Salt Lake Telegram | 1932-06-02 | Page 12 | Stocks Climb after Decline

STOCKS CLIMB AFTER DECLINE Advance 1 to 3 Points Turn Comes With Improve ment in Bonds NEW YORK June 2 The IV market was pulled up sharply i in the afternoon trading Thursday along with bonds and principal after a further sinking spell In the morning Shares closed with nui ous advances of 1 to 3 points point Sales approximated shares The turn came with marked in i. i provement in bonds coincident wits with rumors that the projected bond po pool had already started operations a al though this was denied in usually well Informed quarters The market had seemed oversold and th the sort ot persistent liquidation that has been beca flowing in jet of late presumably from bank loan envelopes and Institution suddenly lifted The tobaccos most severely dc de pressed of late rallied vigorously Early losses of 1 to 3 points were recovered and shares closing 2 t to more than 3 above yesterdays yesterday's final prices included American Tob Tobacco and Liggett Myers shares Santa Fe Union Pacific American Can Eastman East man Drug Safeway and others Despite heavy selling of the utilities in the morning they came back strongly Public Service advanced ad- ad 2 2 1 points and National Power Pow Pow- er and Light more than a point American Amer lean ican Telephone converted an earI early loss of 2 into a gain of more than L 1 Oils were unaffected by the breakup of the world conference and closed with small gains