Salt Lake Telegram | 1935-05-09 | Page 19 | Market Shares Gain 3 Points

MARKET SHARES GAIN 3 POINTS By ELMER C. C United Press Financial Editor NEW YORK May 9 UP Gains UP-Gains Gains of fractions to 3 points were made by bya a majority of issues on the stock ex exchange exchange ex- ex change Thursday with trading well above a million shares The heaviest volume was in the oils which made hew highs for the year Electrical equipments were heavily traded along with several specialties coppers and building shares Automobile issues did not perform as well because of strike uncertain uncertain- tics Steels made small gains RaiLs Rail also were higher but gains were not as well sustained as in other sections Silvers rallied from an early decline Several coppers made new highs for lor he the year Chemicals were strong Utilities turned irregular late in the day Grains made small gains with wheat up 8 3 to cent a bushel and others up to 8 7 cent Cotton fu futures fu- fu tures gained 10 lOb to 25 points on word the government pool would adjust its market operations to raise futures prices Shorts covered in railroad shares Atchison touched 41 7 3 up 1 8 3 union Pacific was up 2 points The group eased from the highs Consolidated Oil led activity In the petroleum division It touched a new 1935 high at 9 up S. 5 Other oils to make new tops for the year or longer included Amerada Atlantic Refining Continental Ohio Oil Phillips Phil Phil- lips Shell Union Pure Oil issues Standards of California and New Jersey Jersey Jer Jer- sey and Texas corporation Pure Oil 3 8 per cent preferred gained 83 points to 10 70 a new top American Telephone and Telegraph Tele graph capital stock made a new high for the year year year-at at 8 5 up 2 8 3 points Toward the close moderate profit tak tak- jog ing brought it down from the high Buying was from investment sources It is anticipated in the street that the regular quarterly dividend will be retained