Salt Lake Telegram | 1923-03-17 | Page 6 | Prices Strong during Week

PRICES STRONG STRUNK DURING WEEK EEK I Profit Taking Fails Fais toI to Weaken Financial Stocks I I NEW YORK March arch 17 De Despite ite In Intermittent In In- intermittent I profit taking and ana short abort selling selling sell sell- eU- eU ing In tn various arlou sections of ot the list the th main loam mai price tendency In this week stock tock market continued upward a with the the In Industrial in- in da I averages again getting t into n new n. n I high bleb ground Railroad averages showed bowed little change chang on th week averages eek although they enjoyed a a. brief period o og midweek activity and strength In response to a continuation of ot record ear car ar loadings Trading was wa on a reduced seals scale tule be b. because be a rants cause raus of ot the Interference with wire wie traffic trat tic fic caused by the he countrywide country de lh storms storm tor While pools 1001 were ere again the dominating factor In the determination of quoted values value alue an enlarged public demand was wa Indicated by the unusually large increases In- In creases in odd lot transactions Equipments and sugar developed im impressive im- im strength virtually all al th the ac active aO- aO 00 tive the Issues ISue In thos groups group Croup establishing new high prices for tor the year yea Equipments Equip Equip- Equipment ment ments ment benefited by the heavy hev railroad buying of ot rolling roiling stock while the esti estimate et- et iII iII- Cuban mate mats of ot a new high price for raw sugar aUlar and a heavy buying of ot that product by British and ad French Fench Import Importers ers fn revived speculative Interest In that group croup Motor motor accessory shipping food tood merchandising and some of ot the utility and oil 01 issues issue also aiso were ere heavily bought at fit various arlous Intervals Interval but out they developed considerable Irregularity In Inthe Inthe inthe the closing days day ot of the week wel Metal Meta shares made a a moderate reap response on to Ta- Ta ports port of unusual unusually heavy copper ship ship- shipments ments ment abroad at prices a s. s 03 a high a 5 U 10 a pound and s-nd ad the stock of ot American Zino stocks ot of tons ton's et at the end ot of February as aa ton tona at the corresponding period hail lat year February cx- cx ced d production by tons tona and d fl th the theU ther a price r pound U ot of t the the he heel metal highest el a e advanced since f dA dAo August to o Jt TH Cents 11 i JO Louisville Si Nashville railroad directors direct director ors ou declared a a stock dividend of oE 61 per cent and a a semiannual cash cub dividend of 2 2 per cent on the new stock equivalent equiv alent to an annual rate of 8 per on the old which had been paying 7 per cent The only other Important declarations were the raising ot of the Magnolia petroleum pe petroleum pe- pe rate from 54 to JB 5 snOt and the th re resumption resumption re- re of payments on Slots Sheffield preferred sod and Warren Brothers Brothers' Tb New York Central directors deferred action ac cc- tion for one month owing to the of a quorum Tho sharp recovery In iii French change which got above cent Cor Corthe or orthe the first time In nearly two months month wa was predicted on reports that negotiations negotiation between the French and the Germans German fOrthe fr fOr the settlement of the Ruhr controversY would be Instituted In the neat near future The sterling rate ret's dropped In reflection of the unusually large volume of bill bills against grain cotton sugar and copper exports export and the payment of Onore than to the United States State a an In Interest terest on the war debt Canadian exchange ex cx- change was also conspicuously heavy