Salt Lake Telegram | 1928-12-07 | Page 20 | Rally Staged in Wall Street

RALLY SI AU iN Prices Rebound Aft Weak Opening Fa S Trading Swamps 5 f. 5 5 Markets at a Glance NEW YORK TORK Y Stock Sleek Radio W Bonds lower Liquid Carbonic e S drop p 15 Points f foreign exchanges easy points 13 15 drop 3 y Ten en Cotton trade trad buying 1 Sugar easy lower spot market f Coffee lower Increased offering i Wheat lower excellent weather southwest 1 I Corn Com ean a r large Argentine ex ports Cattle Hogs firm By STANLEY W. W Associated Press Financial Editor NEW YORK Dec 7 AP Tj AP-Tj stock market which went one of the most sweeping reaction in recent years in in yesterdays yesterday's its sion staged a remarkable come tOi comeback back after a weak opening toda today of 3 to 20 Early declines points wen largely made up by midday md and long list of issues were 2 to 10 points above yesterdays yesterday's j fi final nal quotations in the trading Sales were m in volume with the ticker nearly h an hour behind the market at nut nid day The recovery was stimulated I indications of easing credit cond Although call loans ren renat at 10 per cent the highest ope operate rate in eight years a plentiful sup supply p ply of funds appeared at that fg ure leading to hopes of a a. in the rate Receipt of in cold from Canada coupled TUG jf predictions that the current may reach also help j to turn the the- tide of speculative se sti- Several of the large commissio commiss houses which previously had b bee e advising caution m in the m new w took a buM position on the market on the the ory that yesterdays yesterday's decline had CON c at least temporarily weakened technical position of tI market A brisk demand for developed from the sold o out who had been waiting for a fayo favorable favor favor- able opportunity to get back the market a aRadio Radio which broke M 14 points the opening to rallied to Ward Montgomery rallied front from jito ji 37 to 4 4 1 A. A M. M Byers from lilt t-J t to 4 1933 4 3 International nt 4 2051 4 1 to Rossia Insurance to and Fox Film from to 96 Wright led the the covery by soaring 10 2 2 1 points ahoy yesterdays yesterday's final quotation ard Motors rebounded 9 points aid Allied Chemical the J bacco Issues Associated Dry Goo Commercial Solvents Curtiss A Aeo iJ plane Chile Copper General Eec trie Manville Johns and Motors sold 4 to 7 points above Ii nights night's final prices Rails also took a prominent p pat patin t In the upswing Northern which is expected to Increase annual dividend from 5 to I share this month advanced 5 S and Erie Common 4 The call money rate dropped to toi pox per cent at about 1 I 30 Prices slipped oft off in the fit hour despite the drop m in to 9 per cent in contrast to yesterday yester yester-l day afternoon 12 per cent rate i Ea-i dio after advancing 22 points free Its low point to a net g gaint 8 fell back 26 points to atti loss of 19 points St. St Louis SouthWestern South Southwestern western suffered a a. net loss points and Wright slumped S from its early top Pivotal issa issues q generally sagged 2 to 5 S points fcc their best figures of the day States Steel fell more than 4 under yesterdays yesterday's close The cl 3 ing was heavy Total Tota sales gated shares