Salt Lake Telegram | 1934-09-10 | Page 17 | Silver Issues Drop Sharply

SILVER ISSUES Y Morro Castle Stocks Br Break 4 to 8 B Points Point Main V j List Declines I By ELMER ELlIE C. C 1 WALTER ALZ Or nied Press Financial Financil Editor Edior NEW YORK YORK Sept Sept 10 Wall 10 Wall street sold old stocks stock Monday as a traders await await ed cd word of the Maine aine election electon result The center of the reaction was WiS again U. U S. S Smelting which broke more than 7 1 points in the afternoon dealings Last week the issue was driven down from its ils record high of to Today-it Today got down to around which compared with last weeks week's close of 1214 Other silver shares broke with U.S. U.S. U.S. U. U S. S Smelting Gold miners were al al- to a lesser degree Coppers were st steadied by bV action of Kenne Kenne- cott in continuing its dividend of 15 cents a share The main list declined although losses losse were relatively small except In the railroads railroad where Union Pacific Pa- Pa chic declined more tha than 3 poin points Motor Motor Motor Mo Mo- tor shares hares were depressed as w were r rubbers building issues and wet stocks V Weakness Weakness' in the rails rail paralleled led led several fairly good car loadings re re- re- re ports The widest decline was in New lleW York Chicago St. St Louis Nickel NickelPlate NickelPlate Plate which was driven down 3 5 points to 18 V Steel shares share weakened in the face faca of ot two favorable news Dews items Operations Operations Opera Opera- lor forthe the country rose 25 points pOint to per cent of ot capacity according according accord accord- ing bIg to the American Iron and Steel institute U. U S. S Steel corporations corporation's shipments of finished steel products rose tons Reflecting the pessimism in the street was the sale of I two stock ex ex exchange ch change memberships at and respectively The previous sale was V V Today for the first time the street str t. t reacted toward the Morro Castle dis dis- dis- dis aster Atlantic Gulf West Indies stock stock- company owns o the Morro V Castle broke 4 points to 8