Salt Lake Telegram | 1930-02-16 | Page 25 | Powerful Operators Keep Selective Bull Move under Way in Wall Street

ERFUL OPERATORS KEEP SELECTIVE BULL BOLL MOVE UNDER WAY IN WALL STREET Reaction Develops In Final Session of Week When Traders Hurry to Take Profits Two Score Leading Industrials and Utilities and a afew ne e few Rails Bid Up to New High Levels for Current Recovery Trading Carried On in Moderate Volume Credit Conditions Easy k By CLAUDE A. A JAGGER Associated Press Prees Financial Writer gw W YORK Fe Feb 15 Ap AP-A AP A movement wae in n w operators for tho advance despite constant bY tot i the he stock market during the past week N two coro leading Indus o utilities and a it few mils nilis is fl d levels for UP UI t to new and the thc wc net gains t dc profit Those These were ere largely off off- lWe ji in the list by Index of ninety lending r closed tho week practically eks after narrow t Index of twenty leading The j. j showed a net nets however s o 8 1 Tim Tho of ot otty air rails was as off oU nearly a point ty off that hit of ot fifty Industrials re i thin 2 points he ie tins final session of the thc week saw reaction as many jers hurried to take profits In response to precautionary lets lees by several commission L es which for everni days lia Ind technical n It uneasy o OVET er the the thc market alls shifted their point of attack tho week n a m groUp up to group as uc re-uc 3 and many observers in- in eted the tho success of their as Indicating that tho ket was In strong hinds hands Others recalled that tac- tac hive ave at various times that thit distribution was In progress ilIa r. r however held to moderate portions the thc dally daily turnover for averaging less than iCO t shares redi conditions continued to e Tg For two days of call money was available t I pr cent nil all day The Thc rate was ped pp d up to 4 Friday afternoon funds were withdrawn to meet disbursements Tho Dos Eos- Find nd Kansas Kantas City federal r rt t Vt banks Joined the New York YorkI I I Chicago Institutions In reducing 1 Ir rediscount rates to 4 per cent h weekly brokerage loan figures d an Increase of 47 top of the thc previous weeks week's p up- up sot of but traders paid to the thc loan figures sting out that stock prices had hadady tty ady rallied out of all proportion the gain caln in loans indicating a ae ae e measure of cash buying exchanges generally je I. I although with the the Spanish peseta which k sharply movements were row The peseta was Influenced the thc uncertain political situation Spain Sterling and French Frenchs s to new low levels for It was reported that spans were again Investing In Inck Ink ck k hi in this market and the of funds to New York for fort or ort t purpose appeared t to be de dewing de- de wing the exchange rates