Salt Lake Telegram | 1934-05-22 | Page 1 | Break in Metals Follows Message

BREAK IN METALS FOLLOWS MESSAGE Stocks Depending OI on 01 Silver Fall Off i NEW YORK Ma May 22 UP UP Metal Metal shares particularly those depending mainly on silver production broke sharply today after aCter President nt Roosevelt's Roosevelt's Roose Roose- velt's silver message message lo to congress Weakness 3 in fn the metal shares led lcd to general selling at lower prices prices' inthe inthe in inthe the entire list Trading picked up U U. S S. S Smelting which had been easing ensIng ens- ens ing off oU all day suddenly broke more than 2 points and was G C points net lower at American Smelting showed 3 points loss at ot 39 39 Howe Sound was off 3 S i points at 49 and Cerro de Pasco dropped more than 2 points at 34 I Silver futures w which h hie i c hi h showed strength earlier in the day broke to to losses of ot 12 to 33 points I The more conservative element clement in inthe inthe inthe the financial district was highly pleased with the last paragraph of President Roosevelt's message indicating indi cating eating efforts were being made toward toward to to- ward international stabilization of currencies minded Inflation stock and commodity com corn traders especially those with positions in silver metal were disa pointed