Salt Lake Tribune | 1918-03-06 | Page 12 | Upheaval Foreseen in Rail Control

UPHEAVAL FORESEEN III MAWM. Buying Is Under Way by Banking Interests in Standard Groups. J. A. Hogle : Co., 169 South Main street, furnish the following digest of financial news, received over their private wires: Dow Jones says; It can be stated that good buying is under way in the standard rail group by banking interests. These interests look for a revolutionary change in railroad management and control through the government agencies within the next six months. American Woolen unfilled orders at the close of the year were $50,000,000, against $40,000,000 last year. The rise in Mexican Petroleum was associated with the oil conference now-going now-going on in New York. Oil directors have called on forty oil producers of the country coun-try tor data on production of refining oil and oil in storage. The Yukon Gold company declared a dividend of 2 per cent, payable March 30 on stock of record March S. New York Stcck Letter: No happenings of significance occurred today, and the firmness is attributed to strength of the technical position of tlie market. Stock offerings were in meager volume and it did not require much buying power to better tho price levels. Notwithstanding federal tax and increased operating costs. earnings of industrial enterprises for 191 compared very favorably with 101(3, and some corporations show better net earnings. earn-ings. As a result, many corporations are j firmly established as to equities and their financial status much improved. On this assumption there has been a mod- I erate amount of buying in favored issues, I which accounts for the strength in many 1 specialties. It seems logical to anticipate that a resumption of activity on the up 1 side in certain groups will be the order 1 of things in the stock market from j now on. N I The remarks of an Illinois legislator, Intimating In-timating that the passage of the railroad ! bill and the war finance bill will probably stabilize security prices, was commented ' on freelv in iocal circle. j New York Curb letter: The motors ; were prominent today, being infiuenred bv strength in General Motors. Chevrolet j was traded '.n at 121 to HM. and United j Motors moved up to 27:'i. Standard Mo- ! torn moved- up to 2T34. Standard Motors, ex-dividend -0 per cent, sold at 10li to 104. The contest in prospect at the annual meeting of Aetna Explosives was responsible for buying of that stock, which advanced to Submarino was steady, selling at 13 and ll!7i. Independent Independ-ent oils generally lower, with Houston selling from 4tPs to 4." and Cosden 7S and 71'.. Mining shares were steady, with most Tnterest In Hig Ledgo, which sold at IV Huylng attributed to the appearance appear-ance of new interests in control of the propfM'tv. The stork also was tnlluenced bv favo'rable dispatches n-garding mining developments at tho Henrietta mine and also the But ternnt mine. CurtisH was strong, advancing to .TS. and Wright in good demand at 7Va and TV t ?"ve,r, Sdc 4- Lead (New York) .$7.70(ff 7.75 - Spelter (St. Louis) - ."?7.70 -f - Silver in London 42y2d - -MH-M"4: NEW YORK, March 5. Metal exchange ex-change quotes lead, easier; spot, $7.70 7.75. Spelter, duil; East St. Louis delivery, spot, offered at $7.70. London quotations: Spot copper. 110- futures, 110;xclec-trolytic, 110;xclec-trolytic, 123. Spot tin. 319; future's, 315 10s. Lead Spot, 29 10s; futures, 2S 10s. Spelter Spot, 54; futures, 50.