Salt Lake Telegram | 1933-06-24 | Page 11 | Stock Market Moves Slowly

STOCK MARKET MOVES SLOWLY Mild Rally at Close Lifts Lifts Leaders Fractionally to Over Point NEW YORK June 24 A A rather weary stock market loafed in the tho s of uncertainties Saturday un- un Ui 1 the last half hour of trading when a mild rally lifted some of the leaders lead lead- ers era fractionally to more than a point I t was one of the dullest Saturdays of f the recent upswing The close close was steady teady to firm Transfers approximated mated shares The dollar moved narrowly for in f or- or ign elga exchange markets but grains grains' proved a sustaining factor by getting ip up to new high levels for the year Wheat oats anti and rye were up a cent centor or more mor a bushel Cotton advanced 40 0 to 45 cents a bale Bar silver eased 8 1 8 cent an ounce to 34 4 3 cents Bonds were a trifle irregular Moderate gains were made by ho American Can U U. S. S Industrial Al Alcohol cohol International Harvester National Na Na- Steel General Electric Cela- Cela Du Pont Standard Oil of New Jersey Bethlehem Steel St-Ce Case Na Na- ional Distillers Chrysler General Motors Crown Cork American Woolen Wool Wool- en Western Union and New York York- Central Several large blocks of General Motors and General Electric came out at small advances A rather rath rath- er heavy tone was displayed by American Telephone Santa Fe American Amer ican Tobacco B Allied Chemical Liggett Liggett gett Myers and Lackawanna The report of freight car loadings for the tho week ended June 17 which showed the highest total for any week this year and an Increase of per percent percent cent over the like period in 1932 was pleasant reading for followers ol of the carrier stocks Loadings for the tho week aggregated cars an in increase increase in crease of over the preceding week and above the last years year's totaL Arguments on corrective reactions reactions resistance levels levels' and world prices are engaging Wall Street analysts analysts ana ana- at the moment but outside ot of the consensus that the trend apparently apparently Is upward upward upward-at at least for the long pull opinions and theories arc extremely ex cx- varied While one school of theorists holds that present prices must ultimately adjust themselves to a probable slowIng slow slow- ing down of industrial improvement some time between now and fall fail others others oth oth- ers hold that the country is in the tho early stages of a real cyclical up upswing upswing up- up swing in business which will experience experience ence only temporary and tant halts until the normal operations of 1926 are reached It is pointed out that on a gold dollar basis the present industrial stock averages are actually below the peak of last September and only around the low points of early 1932