Salt Lake Telegram | 1931-04-22 | Page 12 | Weakness in Oils Feature of Curb

IN OILS CURB Trading Proves Dull With Other Issues Showing Tendency to Drop By JOHN L. L COOLEY Associated Press Financial Edit Editor NEW YORK April 22 l ness ess of the oil stocks was a feature of f today's dull curb market T The tendency was toward lower levels j in other ther groups but the petroleum j kues k- k I sties ues were sold in sonic volume on onic the ic distinctly unfavorable turn in ti the statistical position Until recently the oils had given evidence of being thoroughly liquid ted However the flow in the ne new East Cast Texas field which may prove to o be th the largest ever found in the United states has added to the al at ready eady formidable problems confront confront- Ing ng the industry There was sor some consolation in the weekly figures for gasoline stocks were reduced reflect reflect- I lag the seasonal Increase In Standard r ng T. iIi s c s I I I j t I JI i waa resistance level yesterday Bagged about a point Vacuum an and Gulf were equally heavy Cities Service Ser vice rice eased cased to a new low for the delime deline de- de line lime but was still more than a poi above the years year's minimum Utilities were rather uneasy Early Eary elling was succeeded by an interval of firmness but the chipping process proc ess cas was resumed and prices avera averaged not lot far from the 1931 lows American Gas Ga and Electric and United corpa atlon atton warrants were particularly soft Low and medium priced industrials did little Some specialties ng rig Insurance Company of North America A. A 0 O. O Smith and Mining weakened Todd Shipyards and Deere Improved turned over in some vol ume holding steady Investment trusts were quiet Call money renewed on the curb at 2 per cent 4 4