Salt Lake Telegram | 1932-07-18 | Page 11 | Profit-Taking Drops Prices

TAKING PROFIT DROPS PRIES PRICES Many Leading Iss Issues es Slump One to Three Points in n Trading NEW YORK YORK July 18 ff With the adjournment of ot congress out of the way Wall Wal street saw nothing in i the te the immediate outlook likely to stimulate the stock market market further furher and ad steady taking profit carried many of at the leading issues off 1 to t 3 points The Te market closed with a weak tone The turnover was only about shares The bond market held up fairly well wel and ad principal commodities were about steady stady but shares which had been bid up last week in buying in anticipation of the adjournment gave way easily Further Furher buying was wa deferred deterred de de- de- de pending a clearer view of the outlook for autumn Publication of the preliminary DuPont statement for the second quarter showing earnings earn earn- ear ings of at only 27 2 cents per pcr share of at which 23 cents cent came from its it Investment investment invest Invest- Ivest ment in General Motors hastened the decline in Sn the afternoon trading DuPont dropped more than 3 points point Cola Coca lost about as much and ad issues off or about 2 included American Ameri Amen can Tobacco B B. B Liggett Myers B B. B Santa Sant Fe Allied AUed Chemical Case Cae and Consolidated Gas Ga U. U S. S Steel Stel common cornmon com corn mon lost only a fraction tracton but Issues off a a point or more Included American Amer Amer- ican Telephone American Can Union Pacific Eastman and others Some of ot the gold mining stocks were firm reacted after a 4 2 1 point rise and was up little more than a point at the finish McIntyre Porcupine Por Pore cupine gained a major fraction tracton