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Salt Lake Telegram | 1932-06-04 | Page 12 | Market Makes Further Gains

Type issue
Date 1932-06-04
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Rights No Copyright - United States (NoC-US)
Publisher Digitized by J. Willard Marriott Library, University of Utah
ARK ark:/87278/s6fb69v6
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6fb69v6

Page Metadata

Article Title Market Makes Further Gains
Type article
Date 1932-06-04
Paper Salt Lake Telegram
Language eng
City Salt Lake City
County Salt Lake
Page 12
OCR Text MARKET MAKES FURTHER GAINS Leading Stocks Push Up One Oneto Oneto to More Than Four FourPoints FourPoints Points NEW YORK June 4 PJ A further substantial restoration of quoted va lies brought the week in the seq tics market to a close Saturday Stocks pushed up 1 I to more than 4 points joints for many of the leaders and sends bonds scored impressive advances for the second successive day Stocks closed near their best levels to yield in the late dealings p as did yesterday Late profit taking WM ws easily absorbed and the final tone was strong The turnover for the short session was about shar shares Formation of the American ties Investing Corporation off officially announced after the close of vester yester days day's markets was still the ing influence in the markets the corporation has not yet st started operations Furthermore there was nothing to dampen the high hopes o of prompt enactment of the federal tax measure Rail shares forged rapidly ahead in sympathy with the tho improvement to it railroad bonds and such recently de pressed groups as the utilities cos foods and chemicals made nota ble progress For a number of issue the tho rebound from the midweek los lo's has been striking amounting to from 10 to 20 per cent of their value Issues closing about 2 to 4 po points higher included Santa Fc Fe Union Pacific Pa Pa- Baltimore Ohio New York Central Norfolk Western New Ha Ha- yen ven U. U S S. Steel American Telephone Consolidated Gas Peoples People's Gas Pub lie Service of New Jersey American America Tobacco and Liggett and Myers clasi B shares National Biscuit Wrigley Woolworth Case Hershey Auburn Macy and others while advances advance of a point or so were numerous embracing ing General Electric Bethlehem Southern Pacific United Gas Improvement Union Carbide and others Oils and coppers were wert about the only groups failing to make notable progress In commodities cotton which ha hal been a weak feature early in th the week enjoyed a substantial recovery closing with net gains of 95 cents t ta a bale Bar silver was up j a fraction but the dollar remained at s a disadvantage against some of the lead ing continental gold currencies in the thi foreign The florin and the Swiss franc more mon than a point and the French franc frani was just a shade higher Sterling wa was about steady
Reference URL https://newspapers.lib.utah.edu/ark:/87278/s6fb69v6/15849919