Salt Lake Telegram | 1935-01-07 | Page 15 | Stock Market Rises Slightly

STOCK MARKET RISES SLiGHTLY Wall Street Construes Roosevelt Roose Rooe- velt Budget Message as Favorable By ELMER C. C United Press Financial Editor NEW YORK Jan 7 A 7 A majority of issues on the stock market rose roser fractions actions r to 2 points in Mondays Monday's sos ses- ion sion with railroad shares leading Wall street construed the pros presidents president's dents dent's budget message a as favorable for the market Some trader were displeased with the announcement he the 1936 budget would not balance but offsetting that was the presidents presidents president's dents dent's statement he did not contemplate plate any new taxes at this time Steel news wa was highly favorable with sIth the country's rate of operations soaring to per cent of capacity up per cent from Irom the preceding weck Steel shares moved higher on the news Automobile issues were active and so were the equipments Mail order shares mounted on sharply higher sales Utilities eased cased Many special issues were higher Hope for early aid for the railroads railroad helped them Spiegel May Stern rose more than 2 points point Montgomery Ward was active ac ac- active tive and strong Sears Roebuck eased Other mercantile issues were mixed