Salt Lake Tribune | 1919-12-28 | Page 31 | Weekly Financial Review

Weekly Financial Keview. NlW YORK', Pei-. C7. Announcenient that the transportation systems of the country are to be turned hack to private pri-vate operation on March nrst easily ovor-shadowed ovor-shadowed all other developments in what was virtually the last week of a memorable, memor-able, year in the stock market. To "that extent, is was argued, uncer-taintv uncer-taintv rewarding the future of the railroads rail-roads lias been dispelled, i 'peratniL; officials of-ficials anil bankers eoneurr, d, however, in the opinion that notnin less than definite remedial legislation would restore the railroads to tho confidence ol investors. in-vestors. ,. . The only other outstandinff features were the recurrent tluhteniuK of the call loan market, the dearth of timo money and another reaction in foieiitn exchange. Theso were due to such patent causes as the recent deficit In local hank reserves, re-serves, "window dressinK'' over the year-end year-end and further delay in the several plans to establish international credits. It Is known that a number of foreisn financial projects are under active negotiation ne-gotiation here, nomo of them lor larfte amounts, but their actual flotation Is faid to be, contingent upon the attitude uf the . government at Washington. The moderate advance in acceptances ordered by the federal reserve hank was regarded as significant in the sense that it seems to be the purpose of that institution in-stitution to maintain its rates on a parity with those of the open market.