Salt Lake Telegram | 1923-02-18 | Page 29 | Coppers, Oils Are in Demand

OILS ARE RE IN DEMAND Sterling terling Exchange Reaches Reache New Peak total sales shar shares s. s Dis nel net t Jr enty industrials averaged n LOZ 19 1923 10 23 23 low T enty e nty railroads averaged net flet gain aln LOW 06 High 1 1023 low NEW zw W YORK TORK Fob Feb 17 11 By A. A P. P pera p.-pera- Opera P.-Opera Opera Operator conducted for tor the rise tIBe which have been vigor Igor rot for the last two weeks great lat wIth wih II again Interrupted today by heavy p were the stock market an ar ig ular sales saleH appearance giving Total sales however st st of ot holiday half e sea sIn s- s were the Iari lar any halt Beslon Be- Be months month In recent slon ilon of ot the thO most moat significant developments lone ODe a of a ne new te record e day d was for or sterling the Ir establishment a exchange since fn e the rate ot 5 was waa WI removed by th the pegged government in March arch 1310 10 Demand British sold lold today tor for or 14 ot of a cent bis kills bIlls high which was wu established previous pre above the December and duplicated twice last lust III UK ehl past paCt week The par rate of ot otI I during aurinI iteming Is Ia pat When hen foreign exchange e ste collapsed so 80 disastrously in the tho spring rates rte the rate rale tell fell fel to the lowest recorded ever continue to dominate domi d Domestic the course of ot stock prices little or no lato attention nate b leg Ing paid if to 11 the foreign g lt t pound lol 1 Sales Salo- hJ O of copper opper at 16 15 cents a p another Increase etore 1020 and th crude cents n ft I barrel barel for lor for the advance with burnished speculators speculator In their avance campaign tc to tobO ammunition additional Reports of ot an early advance bO boost lt prices a circulated ted around the also allo were prices district during the day financial Petroleum was tle tho the most moat California vas dropping 2 selling ceiling pressure to presure somewhat toC unconfirmed 4 sellin reports Influenced o of ot the discovery ol of by ot of the California oil oI In some water salt taK Jt Baldwin Bawn win established s sl a new top a ail ai al f feld fields Dald back to HOI HOA at the close dropped l 2 but 1 o off 71 on the day I It W was bee 1 again but was unable to hole hoI hole e crossed gain aln and sagged to 10 Mi I. I oft off on tin the the lift th United St States te Steel also Ilso closed slight lower r demand In the final were in great demand fina Coppers Copper New high records were by at 42 4 H. H Inspiration at at atO at and Ray at do de 46 O OUi Cero their duplicated and Chile while Chie 1 peak prices price of 70 0 and 30 re respectively re- re previous slight concessions taking place of these at the close The net gains In some thee cose I Ime from fractions to a point ranged I General Motors was again active creating Pt wa sates sales exceeding a nw new w top of ot 16 1614 11 on OU 1000 There were several several conspicuous Tube weak preferred spots notably Columbia Brake e Gas G Shoe Gulf ulf Steel ec States t and tU tUG tUe Steel Sears Roebuck and American Locomotive Locomotive tive all off oft 1 to 3 S points point Balls al showed mixed changes changes mostly mOlty up- up ward nard Rals Ann Arbor preferred which advanced advanced ad ad- Tard 2 2 points on a small smal turnover was Wa tie the feature of ot sterling exchange there thero was wa Outside interest and activity in the foreign little JUe France Franc and checks check sold eold around GDS exchange and decline of S points cents cotS an overnight slight light recessions were noted In most ot of theother the theother theother European rates other rate clearing house statement showed increases in- in he in loans discounts and creases of ot loans and In the reserve ot of Investments bank banks In the federal reserve member m demand deposits d decreased tet t time deposits dropped Ag- Ag and excess reserve reserve of totaled oi t 8 3 an 0 Increase r leaving i l of over last lat week