Salt Lake Telegram | 1935-06-07 | Page 23 | A. T. & T. Markes Two-Point Gain

A. A T T MAKES TWO POINT GAIN By ELMER C. C United Press Financial Editor NEW YORK June 7 UP UP-A UP A 2 point rise in American Telephone and nd Telegraph capital stock that took ook it to a new high for the the- year and nd a better tone In other high grade issues steadied the stock market Friday but brought no in in- crease rease in volume The list was irregular and dull most of the day Selective buying vent ahead in recent favorites Big traders were still wary vary accounting for or the lightness of transactions Investors favored Telephone on belief clief It would retain Its 9 annual dividend rate and on indications its business was improving A fairly large amount of buying came into National Biscuit on Improved earnings outlook since he the company raised prices of some products Rails were better motors steady teady utilities firm and oils changed Rand Remington-Rand issues picked up with gains to 5 points in the tho second preferred when the company won a asuit asuit suit Involving infringement of ono one of its basic patents American Can Allied Chemical Liggett Myers B and Owens Illinois Illi nois Glass each gained more than thana a point Evans was Products in de do mand Improved earnings helped Shell Union Oil Spiegel May Stern responded to tots ts its May sales report the report the best ay ayin in its history Other mercantile issues were better bet bet- ter aided by improved business re re- re ports American Crystal Sugar preferred pre pre- erred sold off on profit taking fol following Lol- Lol lowing declaration of a 3 dividend the first since 1926 The common stock also dipped and sugars generally gen emily were quieter than in recent sessions Buying was noted in utility preferred pre pee erred issues notably Consolidated Gas which rose more than a point Gains of more than a point were noted in the best railroad issues in including in- in eluding Union Pacific and Norfolk Western Railroad equipments firmed further Silvers firmed slightly in dull turnover