Ogden Standard-Examiner | 1921-02-27 | Page 3 | Stock Market Trends Lower

STOCK MARKET TRENDS LOWER Diminished Earninas of Railroads Rail-roads and Industries Underlie Decline XKW YORK Feb. 26. Tn the further fur-ther depression of quoted values this week the securities market conformed to the more pronounced depreciation registered by foodstuffs, cotton and other staples. There were occasional indications of greater stability in the money market mar-ket and in the Inquiry for Investment issues, but these wire rsh j dowr tl by the diminished earnings of railroads rail-roads and industrial companies and fresh signs of labor disturbances. HI. . tl F i I R The railroad companies' policy of retrenchment has reduced the working work-ing forces to a level below the average av-erage of the year Immediately preceding pre-ceding ihe war find the production of steel and iron is less than sinew 1014. Crude and refined oils were In further fur-ther price readjustment and various projects which aimed at an expansion of the oil industry have been abandoned aban-doned or at least indefinitely defern d Shares of tne many shipping companies com-panies having oil eonnectlons suf f. : U in the wek' reversal) but In several instances impairment was due less to trade Influences than to their speculative specu-lative position. BANKERS HOPEFUIi. Forecasts of the country's foreign trade for this month offered liitle ground for optimism. Kxtensive shipments ship-ments of gnilns and cotton are expected, ex-pected, however, to effect some Improvement Im-provement over January exports, rhldh disclosed a shrinkage of more than $t6.000.000. Pankers aro hopeful that next week's events the chanjre of administration admin-istration and the reparations confer-ence confer-ence In London will be accompanied by developments of a conservative character.