Salt Lake Telegram | 1932-04-12 | Page 16 | Security Prices in New York Markets

t. t 1 4 I r J JH H SECURITY PRICES I IN NEW EW YORK MARKETS u s. s PRESSURE EASES i If Ife IN STOCK MART I e. e List Closes With Steady Tone Mixture of Losses Gains Noted NEW YORK April 12 While JP-While P While selling sellin was ws not altogether stemmed in Tuesdays Tuesday's stock market marJet pressure presure r re ed marked markedly and the list closed cosed I with n a stead steady tone There was a mixture mixture mix mix- ture of narrow net gains and losses loses Transfers approximated 4 hares shares hares Ji Short covering ering prompted b by vague 9 nors nor of a bullish bulish announcement imA im jm a A ding in Washington caused a tern tern- TO ary JI upturn in the cad early tr trading dins nich lich was lost when a furr flurry of selling selling sell sell- ing developed in the rais rails in the the day The list recovered reco cred I again in the final dealings however nol notably bly the industrials and ad utilities 1 Advance estimates id indicated a mod mod- crate cate decline in the weekly report of 4 V freight car loadings due tomorrow SHOWS snows FLUCTUATION I Santa Fe Fc fluctuated erratically ris ris- ris in ng 2 points point in the moring morning then dropping dropping drop drop- ping pins to show a loss los of 4 4 only to reduce its it loss los to about 2 points at the fin fin- tn M ish sh Union Pacific after selling off of 4 I nearly neary 3 closed cosed off of 1 1 U. U S. S Steel closed cosed a fraction tracton higher hiher and American Amen Ameri 4 can Can Cn American Amerian Telephone Case and Public Service Serice of N. N J J. J managed to t close about a point or more higher Standard of or N N. J. J was a soft soH spot losing los los- ing ig about abut 2 points in response to an estimate of 1931 earnings at less than a share share w rrt snORT SHORT SHRINKAGE It I was wa suggested in some quarters that tat the fresh selling may have ha been in i part a response to the figures on the short position disclosed in fri Washington Wash Wah ington by President Whitney of or the te ter ther r exchange These Thee figures s' s indicated a p moderate shrinkage figr in the number nuber of or shares in short accounts during the first week of or April Apri despite the decline de dc dc- dc dine cline in prices This Ti theoretically at le least t indicated that tat teh cushion of or potential buying by the shorts short had been reduced thus thu weakening the markets market's technical position While brokerage quarters generally I remained rather dubious over the immediate im mi- mediate outlook in the market market some held that the decline had worn wor on so long Iong that a rebound must mut be in m the thc making and advised that the bear ber side be avoided Some even suggested cautious buying Mr Whitneys Whitney's Whiney's statement state ment merit in Washington that recent liquidation lq represented a public effort cron to give the United States away occasioned oc oc- oc considerable favorable comment com corn 1 ment In brokerage quarters quarters Never uncertainty over aveI congressional congre U moves and the belief that further fur fur- then ther sharp reductions in dividends dividend will wi be seen in coming coring months month left lef Wall Wan street in a cautious frame of or mind mid