Salt Lake Telegram | 1921-06-27 | Page 10 | Insistent Liquidation Believed Completed

t NE 27 1921 u INSISTENT liQUIDATION BEliEVED COMPlETED FurnIshed by Harold R. R Smoot Co NEW EW EV YORK Jun June The The fact dart that the stock tock market tension was waa much 1 less lees at th the end nd of the th week than for Cor the first three days day wa was due do to three major de de- e In Jo the th Uc lae the Inc of call more marry to 5 per pr cent ent a rate that had rot ot been quoted nine amos October lUt 1918 w waR shown bon b by the tb midweek statement of the n reserve n bank banks to be M a probable fore tore calt of oC a money situation for eon con time tim to come Thin Then the recovery er cry ery of stock a e as the week It it III do clo clore that Intent liquidation liquida tion tOon which had a prominent part In the beu heavy fall fail at of prices price during daring ilay and the first half of June had been Men completed A third factor In Improving market sentiment senti inset ment was wao the th evident reluctance of bear operA operators op op- op- op erA to con continue their tactics tactIc at least leat until something came Iame forward to show chow whether or not quotation tad rud ad gone far tar In discounting future business uncertainties The conjunction of oC these theae influences Influence brou brought ht I a recovery of stocks stock which If it did noth lOg ing more cave gave Investor opportunity to mea mes- sure aure prices against aSSets and prospect of at the am same time that destructive force forces were called to a halt haIL Herald With Ith money easier r and nd with no Illusion existing as to the state of ot In many I line lines we are Inclined to think that there are nin bargain bargains In the stock tock market Railroad earning earnings chew th the effect of the contraction In business but there I is I. good rood reason to believe that the treasury will loosen on money which I is I. owed tho the roads road thereby tiding them over the lean period which I Is Inevitable Inevitable- Ve We see aee signs of oC a business Improvement nt which we believe bellve will take very definite form before the end of helan Whelan