Salt Lake Telegram | 1932-06-11 | Page 12 | Brisk Upswing in Stocks Lost

BRISK RISK UPSWING IN STOCKS lOST Market Moves Lower as Speculators Lighten Commitments NEW YORK Jan 11 1 P After iP-After i-Atter i After afew a afew few ew morp prods at the retreating bear mor interest in the stock market speculators peculators for the rise began bean to lighten their commitments in advance of the weekend week end Saturday and md a brisk ups in upswing in the first hour was more snore than lost lost Auburn pushed up 9 points on top of the advance of about 30 points in inthe inthe inthe the past two days das then slipped back back Numerous advances of or 1 to 3 points registered in the first hour were lost and a few issues closed a point or counder so co sounder o under yesterdays yesterday's final levels The Te closing tone was slightly heavy The turnover was wa around shares The appearance of reports in brokerage brokerage bro circles that steel operations will wi slacken further next week probably probably ably for a new low for the year apparently apparently ap ap- ap parent put lut a damper on carl early bullish bull bul ish enthusiasm Aggregate operations in the Youngstown area alone however however how how- ho ever e were expected to show slight improvement next week American Amerian Tobacco B and Case Cae converted early gains of 2 points into net losses of I like extent Allied Aled Chemical Chemical Cher Chem Chem- ical and American Telephone advanced ad ad- winced about 3 points point then reacted to close coe fractionally under tinder Fridays Friday's final levels United States Steel and New York Central closed cosed unchanged after advancing more than a point point I Eastman and Santa Fe converted gains ains of 1 2 1 into losses losse of 1 I point point American Can finished off of 2 1 after aUer registering a temporary gain sain of 2 Cola Coca finished more than a point higher after advancing more than 3 Norfolk Western Wester closed cosed up tip 2 2 1 net after selling somewhat hi higher Auburn Auburn Au Au- burn bun at the top was at 76 in contrast contrat contratto to its it recent low of 28 8 3 It I closed cosed unchanged at t 66 3 Fridays Friday's improved tone in commodities com corn was not fully maintained particularly in cotton colon Futures re reacted reacted re- re acted aced 30 to 40 cents a bale Foreign exchanges recovered somewhat against the dollar donar after their sa sag of the past Pst few da days s None of the leading gold currencies save the Swiss franc however was wa above the outgoing gold point from New York The French franc was 5 16 of ofa a po point higher at 5 1 5 Gc for ca ca- ca bles Sterling cables ru ruled cd at 4 1 up 1 1