Salt Lake Telegram | 1934-06-04 | Page 12 | Mining Shares Strong in N. Y.

I SHARES k Feature Dull but Firm Session in Wall Street Gold Rumor Aids Dy By ELMER C C. C United Press Financial Editor NEW YORK June JulIe 4 4 j t mining shares featured a dull ti session on the stock exchange day Stock sales again recorded 10 year 0 year low record at This is the smallest volume June 2 2 1924 Last Tuesday were shares the Previous 1 fi year low record Sales Friday 70 shares Curb sales were the smallest 3 March 30 1933 totaling only and compared with Friday U. U S. S Smelting gained 3 po point and substantial gaIns gams were vere S noted j Alaska Juneau Dome Mines Cerro dc de Pasco American Smelting M and 1 Howe Sound Rising prices in the gold an and silver division followed reports i in Wall street the administration would boost the gold price as soon as congress adjourned to halt price and stern stem business decline Rumors raid gold would be boosted to 37 p per line fine ounce making the dollar worth 55 on the old parity of 2067 for gold and cents on the present parity The stock market ignored the grain graj list where prices were lower Wheat Theat lost 1 8 3 to 1 4 3 cents a busl bushel oa the day Other commodities moved a nar- nar v r M U J t. V m some of the silver positions in futures and in hides Cotton rubber rub rub- ber and copper lost a few points V The dollar was irregular The pound broke to near the dose close of the stock market where It w was of oil 3 cents Stocks opened irregularly higher and quickly moved up net gains in all sections Pressure eased cased from th the steel group despite threats of strikes Motors however advancer advanced anti and held helda a majority of the gains gams Gains of a point or more were er ermade made by Allied Chemical American Commercial Alcohol Steel Chrysler Du Pont Electric Auto Lite Montgomery Ward Na Distillers Pathe A Scars Roe buck and United Aircraft American Telephone firmed to up 1 8 1 points on the report of New York Telephone company showing a gain of telephones In May Rails advanced There was some buying by i a few traders who thought they were picking picking pick pick- ing the markets market's low A few took profits but there was little real demand for any stocks