Salt Lake Telegram | 1930-01-05 | Page 26 | New Year Brings Little Cheer to Stock Market

New Year Brings Little Litle Cheer to Stock Market NEW v rom Jan 4 AP AP- AP NeW APe New New- e Tears Tear's rears week brought brought ilithe lite cheer to tho stock market marke this his ye yeah Trading wa was waa at a a low ebb and nd primarily rc- rc Incident to the l ctr turn of or the time tax year rear cr Pools made a few rather unsuccessful stul ces-stul alit and ant laced faced with highly conservative January 1 bu business bust busi l. l Ie ness hess s forecasts for fur tl tins tIa now iio year cal together lo- lo eth gether r with wih indications o of de- de sPread ti-a ti h-do h ratio lo nn anti l Industrial roces- roces Ion resulting In financial difficulties ties tica tes l fora for r a few tew o of the tile aliens d decided In to withdraw tons Bears also VU pursued a vacillating cu cours e. e Drives 10 mado isolated stocks but limit with wih January reinvestment funds estimated as S as likely to make early arl appearance In tho Iho market markel shorts short were Inclined to be cautious The reinvestment demand for or stocks toek however a was disappointingly disappointing disappointing- ly MJ slow W In iii II appearing apiK The ending of or liquidation to Cs- Cs s- s losses Josses for Income tax lx pur par PObes POIS n n. depressing factor during the pr previous week resulted In lii an aim almost t violent factor allol du m the previous w ck resulted In Iii an au alJo sil- sil Jo t violent upturn on Cli the til final nal nalda I da day o of the tho year Shorts who ho had hadl I l 11 been een en deferring the thc taking of or their lieu profits to avoid paying lu taxes g on or I them until 1931 11 hurried to cover cocron on oIl l December 31 1 as S trades of or that thai date would not be le cleared until after af at af- af ter er tho ho holiday Thur Thursday I the tim tim-si t fh L day o of th time the new year brought I a moderate reaction followed h by a amid IL L mild mid rally 1 Fia and Saturday The composite Index o of 30 0 lU leading 7 stocks ended ende the the week eek at a t net gain 11 for tor tho thu week of or G I 1 C 1 points Th The Tho year ear ar end ent credit rc S wera met with wih an un ease case which cop i tr trusted markedly inam with wih time the pinch 0 of f a l rII U ago 10 Call Cal money went vent nt ni nid no I d her thun than 5 per cent tant cent on Friday J I that reflected th time dl temporary ir g up of or funds at Limit th 1 hank nl S Interest t ana atia dividend dividen LI tsi t. t 0 v be J J checks rather than tho the d be- be ginning o of tho Limo January relaxation Time Tho horter maturities 18 of or acceptances however er were ea easier ler loans rose I during tho last Jast week weel of or the time year yea practically cancelling tio tilo re I earlier in JI I it December Furthermore c tnt tnt-mu nu tier banks made little or ui no mit I 10 progress during th the month In vc c C their loans during JoanI to customers on un I security r ii hi h 4 normally a month of marked markN relax relax- with In nc rl Q however QI I. I ant aud ut i slackened business and ant PI l CC- CC ulal t activity ul- ul thin hits time lime rates S should pursue their normal co course I That no favorable l S exist W was by the receivership receiver ship for or Stutz Motors und and ll- ll ties in iii effecting a reorganization Ii tot for the time lox ox theatre and anil film ant Cm Interests Inter Inter- ests but gradual Ironing aiming out 0 of oC f thc thc-sio seems probable Gold GOd continued to flow row to tu France rance shipped tuch being today car car III tho ho lot total current curent e or I movement above c OO lx 1 change 1 rte rates for leading n 0 currencies eased Casell m markedly I U tho thu end ld of or the year cal both anti and lr French Frencht francs going below tim the e gold sold export gains gains' but foreign orel n exchanges ex cx changes normally ag sag tb during Oh flit OIl C. C first few days day ayS o of Januar January and rH rail rally later in tn the month Bankers both both In New e York an and I Important l c Ctt rs look loo i ook for Cor or timer further exports of or gold trot from Tm New ew Yot YOlk The fe federal erl reserve b k- k i tern tem however has luia ter been able aule to r re re- re I lease leaM adequate credit to offset uRet the the e effects of uC tho time gold movement ement an and d I Is expected to to continue to do tb so o. o Lower bank rates will whit wi 10 probably prot I- I ably 11 b be he effected before th tho move ment becomes excessive Tho Dank Dankof 1 of B Belgium r reduced reduce Its Hs it rl rate ate thi is week wk and there havo 13 1 been rumors 5 that both tho and ti the me of o IVance I are arc contemplating reductions j I I