Salt Lake Telegram | 1935-11-19 | Page 23 | Stock Marketa Pushes Higher

STOCK MARKET PUSHES HIGHER By ELMER C. C United Press Financial NEW v p YORK Nov 10 The 10 Tho stock market pushed into further new high ground Tuesday on gains rangIng rang rang- ing to four points Scores Score's of new highs high fan the year or longer longet were made as the list gave a remarkable demonstration of power over the persistent taking profit which had resulted In losses ranging to 2 points in Mondays Monday's market Trading was waa not so active but underlying strength was apparent from initial quotations The rise accompanied a strong movement In bonds where speculative specula specula- tive rails and utilities advanced sharply in good turnover with some special issues turning in sharply higher prices Wheat was about 8 3 cent higher at the tho close corn was vas higher jon on tight cash position while cotton was mixed with near months f firm irm Ti The rising trend of prices in stocks and bonds accompanied an avalanche of favorable dividend re returns returns re- re turns several companies adding to their disbursements to ers In addition it was announced in Washington that value of residential resi resi- building permits in October showed an increase of 7 10 per percent percent cent over October 1931 1934 while value of all construction for which permits permits per per- mits were issued showed a gain of per cent over the 1934 month and 76 per cent over September This favorable industrial background background back back- ground erased some of the tho specula specula- reactionary tendency In trading trading trad trad- ing circles and served to minimize the caution some traders feel over the French economic situation which has resulted in let forward quotations quotations quo quo- on the franc going lower with expectation of considerable more shipment of gold from France to the United States Communications issues furnished the feature with Radio corporation common the most ac active active ac- ac tive stock advancing more than a point to the highest level since 1933 American Telephone went above for a new high and two points gain Copper issues strengthened both Anaconda and going to new highs as directors directors- increased the tho dividend payment to 20 cents cents' a share from 15 cents High priced industrial shares were strong American Can reaching for 4 points advance while Du Pont at was 31 points higher port Tin Plate turned active and reached for 4 points points' gain a anew anew new 1935 high lending strength to other steel issues Union Pacific led the rails with more than 2 points advance ties turned strong led by Peoples People's Gas which was more than 2 points higher Liquor shares snapped back after break Schenley going almost to 53 for almost 3 points advance Electrical equip ments were cro higher higher General General Electric Elec Eloc trio and Westinghouse hitting new highs highs and and there was som buying of railroad equipment shares