Salt Lake Telegram | 1912-04-06 | Page 8 | Market Hesitates, Then Resumes Rise

MARKET HESITATES THEN RESUMES RISE V NEV YORK ORK April f C. C After After Arter SEn several days das of he hesitation and comparative a tion the stock market ket thi this week cek re re- re the rise which began beltan In th the preceding pre pie ceding month The The- movement nt differs differed from tram the earl early period however in that tha the activity converged largely around Bround th the standard railway stocks tocks and United States Steel with less 1158 prominence In coppers anti and the metal shares s It appeared to ha have haas as its basis bash an In increasing In- In cre creating creasing h belief In the betterment nt of or t buil bul rises ness conditions this thin fc feeling lIng b being ln burns borne out b by the increase in bank exchange f e find and advice received by th time mtr mercantile agencies 8 On the other hand there thero W were tiers a a. number num num- her bor of ot adverse de development including the disastrous floods in the w west t and southwest nett no immediate prospects of ot a of our anthracite coal strike and nd n. n decided d stiffening In call mone money rates rutes Ix of this sort were ere listed at 5 r per r cent on Thursday the highest st rate te since last December and the further drain on local financial institutions point to another deficit In re reserves re- re serves es this week All An these conditions had no effect on quoted d values however hOW man many active i is- is I sues sites rUIng rising to the tho hl highest hest prices of or the I year ear with United States Slates Steel selling a aIts dt at Its best beet since Inca lust last Sept September Th The Tho rise In th the security was os undoubtedly undoubtedly ed edly helped d lJ by the large largA short interest which is believed ed to exist and the de demand do- do mand inand for or the tho of or the corpora corpora- lions lion's 5 per cent subsidiary bonds which were eagerly erh taken Railroad earnings most mod of which were extremely favorable also gave ave Impetus to tho advance nd