Salt Lake Telegram | 1932-08-01 | Page 12 | Stock Market Upturn Halts

STOCK MARKET UPTURN HALTS Selling of Rails Rais Puts Check Checkon on New Climb Extreme Gains Are Reduced NEW YORK Aug 1 Selling of rails the strong group in July recovery recovery ery cry rais checked a fresh freh upsurge in the stock market Monday and wiped out much of extreme gains gais of 1 to more than 4 points point Much of the list closed with wih net gains of fractions to a couple of points point but bul some som of of the rails rais' rais were lower The Te closing tone was irregular Sales Sale approximated shares Much of the speculative fraternity had been awaiting a technical reaction tion some feeling that it was long past due ton and there was a n rush to take profits when the rails rais began to slip The carrier carier issues had been sluggish from rom the start of the thc day The list had lad been hesitant in the early trading tading but ut surged up swiftly for tora fora a time in the afternoon Prices began to slip in the thelast thelast last ast half hal hour American Amerian Telephone was wa a buoyant buoyant buoyant buoy buoy- ant feature up more than 4 but it i fell teU back 3 Allied Alid Chemical lost most of a point 3 rise U. U S. S Steel Steel lost lost all allut allbut al but ut a traction fraction of a gain of f 1 11 2 2 1 and American Can moved similarly American Tobacco B lost half al of an extreme rise ric of nearly 4 In the rails raUs Union Pacific and Santa Sant' Sant Fc Fe lost 2 points net and New York Central about 1 Auburn Aubur fluctuated widely converting an extreme rise of 01 4 into a loss of lk like extent International Business Machines Machies shot up 6 6 then lost part of or its Is gain Oils Oils' Ois' Ois were heavily bought ought for tor a time but advances adv of a point in Standard of New Jersey and Cloria California and Atlantic Refining were Refining were cut to fractions