Salt Lake Tribune | 1918-11-15 | Page 10 | Stock Market is Affected by Reconstruction Rumors

ISTOCKMARKET 15 AFFECTED BY RECONSTRUCTION RUM0R5 Influence Noted of Conflicting "Factors Engaging Attention of Finance and Industry. NEW YORK, Nor. 34. The stock market today gave further expression to the many cuuf lie ting factors which have engaged the earnest attention of financial and Industrial Interests In-terests since the-signing of the armistice. Prices were firm to sirong at the beginning, rails, shippings, equipments and oils, together with such specialties us motors and tobaccos, holding their gains of 1 to 3 points throughout the forenoon. Later the entire list fell back, the reversal coinciding with reports from "Washington that i lie war industries board had beeu empowered to cancel war contracts In excess of comparatively compara-tively nominal amounts. There was much discussion in Block mnrket circles as to the ndvlsubillty of removing restrictions re-strictions on bank loans, but the arguments advanced In that quarter received little encouragement encour-agement from financial institutions. The reaction was at its height in the last hour when oils tnd industrials not only forfeited all gains, but pave way to net losses of 1 to 4 points. Motors also yielded easily with klD-dred klD-dred specialties. United States Steel gave promise at the outset out-set of regaining a substantial part of its recent re-cent logs, advancing 1 points, but rellu-quisehd rellu-quisehd all Its advantage and closed at a slight fractional loss. Advances of 1 to 2 points In rails, with Southern Pacific the leading feature, also were soon forfeited, while coppers labored under the handicap of adverse earnings and shippings lost ground on further postponement of the Mercantile Mercan-tile Marine deal. Sales amounted to 015,000 shares. Liberty bonds eased slightly, domestic railway rail-way and industrial issues yielded 1 to 1 per cent and internationals were Irregular. Total sales (par value) aggregated 511,775.000. Old United States bonds were unchanged on call.