Salt Lake Tribune | 1919-05-24 | Page 16 | Quiet Confidence Feature of Day's Security Session

QUIET CONFIDENCE FEATURE OF DAY'S SECURITY SESSION Upward Movement Is General, Though Focused Chiefly Around Steels and Kindred Shares. NEW YORK, May 23. Optimistic trade prosjwets entertained by leaders of Industry, f crt her rclu tut Ion of money rates and pros-pi-ttvp modification of the peace treaty were the niuNt noteworthy com ribu lions to today's act lv and strong Block market. tntil the final hour, when the upswing of pri'-os borjiiTT1 more penenil, the session was in most esspiitialb u duplicate of the precedliiR day. The undertone was one of quiet confidence, con-fidence, and, aside i rom the cyra t ions of ti few spociultleb, tlie advance was almost continuous. continu-ous. The movement fortified lnrfjeiy around the steels and kindred shares, receiving its Kreal-ent Kreal-ent momcntiiin from t he address of Klbert 14. Gary before the American Iron and Steel In-Btitule In-Btitule in which lie predicted prosperous con- 1 dil ions for that Industry. United States Steel rose steadily to 1 07. n , ffiiln of 4 points and Its maximum of the ! year, the independent proup gaining 2 to b' 1 points. Motors, which depend on the trend of the steel market, also recorded many substantial sub-stantial advances, extending to 15 points in Chandler. Kails were iiirmntr I lie leadrrs in point of net iviry and strength h I one period of the session, a 1 1 hough their rNe was ruin para t i vely moderate, hut shippings aud oil denoted further selling for profits. Proposed legislation of a protective character char-acter was h-dpfnl to the chemical shares, fond issues rising in sympathy. Metnls, 1-urliers and tobaccos were nmre restricted hi their niovemein, hut utilities derived further stren'h fmm the express company division, in which gross Advances of '2 to K point s were iiarl ly cancelled. Sales amounted to 1.3."H.niH shares. Bonds, as a wlmle, were firm , but some of t he speeulat i ve rn i Is made modem t e concessions conces-sions on Kin all offerings. Total bales tpur value) aggregated SlO.STo.fK'U. 01d United States bonds were unaltered on call.