Salt Lake Telegram | 1935-09-06 | Page 23 | Prices Advance on Stock Board

PRICES ADVANCE ON STOCK BOARD By ELMER O. O WALTER United Press Financial Editor NEW YORK Sept 6 Wall 6 Wall Street responded to President Roosevelt's assurance that business would b be accorded a breathing spell epelY and arni prices advanced 1 to more than Z 3 points In heavy volume Friday Heaviest dealings were In the mo moe tar tor shares where Chrysler soared t ta to toa a new high since 1929 above 6 General Motors rained famed more mor a point adding addinE more than to the valuation of its Pont largest holder of General Mo ito Motors toES tors stock gained more than 4 point Steel swung into action with United States Steel making a new high for the year above 48 45 Gains Galna in ut steels ranged above a point in leading issues Steel shares have hav appreciated in value around s a half billion dollars front from their lows of oC the year Many industrial issues made new tops for the year or longer bringing the Jones Dow industrial average into new high ground since 1931 Railroad shares forged ahead late lata latain in the day led by New York Cen Utilities joined the general re recovery re covery Trading active throughout th day picked up further near the tha close as shorts covered and investors tors bid for their favorite Issues General Electric had a heavy turnover on an increase of 5 cents centa in the quarterly dividend payment Electric made a new high for the year at a gain gam ol nearly or-nearly 3 points Motor equipments followed the tha motors with new tops in Murray corporation Mullins Manufacturing and Houdaille Hershey B Deer Deers A Co and Case made new tops in a strong farm implement group National Na Distillers made a new high There were a few exceptions to the trend Safeway Stores de declined de- de dined about a point on a dividend reduction Oil shares were unsettled unset tied by a 5 cent 2 cut in prices on the Pacific coast American Amen Ameri can Telephone slipped to a small ne net lou loss but came back