Salt Lake Telegram | 1932-01-28 | Page 14 | Security Prices in New York Markets

j SECURITY SECURITY L U 1 I PRICES IN NEW YORK Y OR RK ET S Ji I I I I II I RAIL MEETINGS E HELP STOCKS I I Market Encouraged by Reports Reports Reports Re Re- ports From Conference On Wages B Br A JO l ted Press NEW YORK Jan 28 28 The The stock market was slightly encouraged by br reports from the railway wage wac conference con conS ference in Chicago during Thursday afternoon trading and a sag of at 1 to 2 points was largely recovered although al although though there was a little hangover selling in the last few minutes The market closed cosed barely stead steady with wit leading stocks in the main unchanged to a point lower The turnover ap approximated shares A few ew issues showed wider losses with wih Coca Cola losing 2 points point and nd Southern Souther Paci cand American Aerian Telephone Tele Tec Tel phone nearly as ns much much Conclusion of the railway wage negotiations hasben has been ben te awaited so long that some traders traders trad trade ers thought it might prompt as much news buying buy buy- selling on the good as S ing although an upward response has been generally expected PEW ISSUES SAGGED Issues losing about a point Included ed General Motors New York Central Central Cen Cen- Genera Case and nd Woolworth Bethle Bethlehem trl hem sagged a point to 16 then recovered recovered re rc re- re covered slightly pint U. U S S. S Steel likewise sagged more than tha a point but recovered ered cred partially General Electric and ad Standard of N. N J. J dipped fractionally fractional fractional- ly to new bear market lows but the thc former recovered Financial quarters took some comfort comfort com fort Cort in the Washington news that the Democratic members of the ways and means committee had agreed that the forthcoming tax bill bi would not be retroactive but this failed to stin stimulate sti the stock market market EXPRESS OPTIMISM finance fi 1 News that the reconstruction f nance corporation would take over the functions of the te national credit corporation was wa in jn n keeping wih with expectations ex cx- in several sc quarters and ad banking executives expressed encouragement en en- over ove unofficial reports report from Washington that the reconstruction tion corporation would pursue a lib Jib liberal lb ton eral policy in I extending credit credit Wallstreet Wall Vall street is s inclined to expect a vigorous campaign to restore confidence and check hoarding as the te re reconstruction reconstruction re- re re construction corporation begins to function With Wih its it much broader powers and more ample funds It i is 15 power expected to be much more effective han ihan the credit corporation has been In the meantime high financial quarters more inter interested ted in inthe inthe inthe the bond market than in stocks and felt fel that the improved outlook for new financing was encouraging i Credit conditions remained about stationary with wih federal federl funds showing show show- I ing lag a little firmer tendency