Salt Lake Telegram | 1928-01-04 | Page 13 | Wall Street's Close is Firm

Wall Streets Street's I 1 Close Is Firm 1 Markets at a Glance YORK M rk firm Studebaker highest since 1925 1025 steady Denver Rio Bio Grande Western Is active at new 5 Cotton trade rade buying Sugar pH easy r Cuban tiling i Coffee steady European support CHICAGO vi Wheat barely steady increased vi- vi r T Corn firms exporters buying baying attIc lower Irregular Irre-gular NEW YORK Jan 4 AP AP Stock prices continued to work higher Iri today's to- to days day market Some irregularity developed developed devel devel- during the morning when selling inspired by price cuts broke out in some sona of the motor shares but the whole market swung upward when the call money rate was lowered from 5 SU to S Sper Sper per cent Banks reported a heavy flow of funds here bere from the Interior interior- Steel shares failed to make much progress buying apparently being held jack back pending more definite advices on en he the course cours of trade The weekly steel trade ra le reviews reported good specific specific- lions for sheets bars plates and structural tural material In the last ten days of December Copper shares continued to respond to reports of improving trade conditions although the gains were small Greene Oreene Cananea which Is re reported to- to ported to harbor a a. large short interest rallied S 'S 5 poInts point to a new record high at by early afternoon 1 Public utilities which quieted down on the announcement of a proposed U. U S S. S senate investigation Into recent public utility financing and superpower Project gathered strength under tinder the tho lead of Brooklyn Union Gas Brooklyn Edison and American Express some of the gains running as high as S points Adams Express soared points ona on op opa a small turnover General asphalt Air Reduction Cudahy Cud Cud- shy Packing Allied Chemical and Marine Matine Ma Ma- tine rine preferred all recorded substantial gains glins New York tractions traction were weak Rapid Transit and Third Avenue Aye Ave flue nue Railway selling at the prices In years Except for the establishment of a anew anew new high price since 1916 by New NewHaven NewHaven Haven rails were quiet but steady The Tho closing was firm Squeezing of the short Interest In General Motors which had been created by the competition in the lo ov priced field carried the price up to tho since It broke to last latt Oc October Oc- Oc tober Studebaker was at Its best t price since 1025 and Armour issues were accumulated in round amounts American Sugar suddenly dropped t S points and Green Cananea Copper re relinquished Its earlier Advance of as much Total sales approximated shares