Salt Lake Tribune | 1917-03-24 | Page 16 | Rail Buoyancy Feature of Stimulated Market

RAIL BUOYANCY FEATURE ' OF STIMULATED MARKET Rise in Prices Concurrent With Advices of Petition Peti-tion to I. C. C. for Rate Advance. NEW YORK, March 23. The most impressive im-pressive feature of today's market a buoyant movement in rails did not develop de-velop until the final hour. The rise in that group, which ran from 2 to 4 points in leading issues, was concurrent with the receipt of advice? that the interstate commerce, commission had been petitioned peti-tioned by the railroads for a general advance ad-vance of 10 to 1 5 per cent to meet increased in-creased operating expenses under the Ada mson law. Strongest of the railway list were Cnion Pacific, Canadian Pacific, Reading, New York Central, New Haven and Erie, with unusual activity in Southern railway, Wabash, Missouri, Kansas & Testis preferred, pre-ferred, Kansas City Southern, Wheeling & lake Erie, Rock Island and Missouri Pacific. Pa-cific. During the forenoon and mid -session United States Steel and marines monopolized monopo-lized trie bulk of the large trading. although steel did not make its best price of 117, a gain of IVi points, until the last fifteen minuter. Bethlehem Steel old stock rose 5'4. to 147, and the new to 1 3 n Marine preferred rose 34, to 95, and the common, 2, to 36, with gains of 1 to over 4 points in Atlantic. Gulf and West Indies, United Fruit and Pacific Mall. Metals and motors made only relatively slight improvement, except for National Lead, which was in steady demand-at a gain of 3, to 63. Oils, papers, sugars, 1 Ceii I rat Leather, Industrial Alcohol and American Woolen kept moderate pace with the advance in other specialties, which was featured by an advance .of SVs, to 72, in Wilson Packing. Utilities moved contrarily, Ohio Gas ris- i ing 3, to 125'i, while People's Gas of Chicago recorded an extreme decline of 4, at 91. Total sales, 1,030,000 .shares.