Salt Lake Telegram | 1935-07-27 | Page 15 | Motor Shares Advance Again

MOTOR S SHARES ADVANCE AGAIN By ELMER C. C WALTER United Press Financial Editor NEW YORK July 27 27 bile lle utility and steel etcel shares were vere favored in another advance Saturday Saturday Satur Satur- day on the stock exchange Tr Trading dl g was light with many absent the street for a long week end holi hoU- day The market opened firm and continued con con- to advance in the early trad- trad ing ng A few issues lost ground contrary con con- to the general trend including United Fruit which was off 2 points and American Can off a point Resumption of strong leadership however however- was encouraging to the inclined and buying spread after the opening Consolidated Gas featured in activity equaling its Its- high for the year Chrysler and General Gen oral eral Motors were next with the former at a new 1935 top and General Gen oral eral Motors equaling its high Motor equipments farm implements and electrical equipments were relatively relative ly active A few special issues in including In eluding corporation and Union Bag and Paper were the most heavily traded issues In the utility division new new- highs were made by Electric Power and Light issues Peoples Gas and Standard Stand Stand- ard Gas 6 per cent preferred Amer American lean ican Light issues American Amer lean ican Water Works and Public Ser Service Ser Ser-J vice of New Jersey were firm The better tone in utility shares was ascribed to hopes the Wheeler Wheeler- Rayburn bill in its final form would not contain the death sentence for utility holding companies Indications of advances in steel operations in various major centers cen cei- for the coming week brought a a- better market for steel shares U. U S. S Steel approached its high for the year at 41 while Bethlehem rose rosemore rosemore more than a point and others gained fractions to a point Youngs Youngstown town Sheet and Tube made a new high for the year A rise of more than 3 points to toa toa a new 1935 top in Warner Brothers Pictures preferred was a feature in inthe the amusement division Loews Loew's met some selling and slipped back frac frac- Manville Johns made another new high in the building section Murray Murray Mur Mur- ray corporation was at its best price of the year in the motor equipments Both General Electric and Westinghouse Westinghouse house made highs in the electrical equipments Deere and Case were at new tops in the farm division Montgomery Ward Vard exceeded its for for- former mer h gh in the mall mail order group