Salt Lake Telegram | 1936-01-13 | Page 13 | Rails Advance in Late Trading

RAILS ADVANCE IN LATE TRADING By ELMER CX a aV V A I United Press Financial Editor I NEW YORK Jan 13 JaI 13 Railroad 13 shares led the stock maket market market- higher in the to lato late trading Monday aft after a dulf dull trading Irregular course In Jn the te earl early Higher car loadings and outlook for tor better beter earnings turned attention to the tho group The The- buying began egan after New Haven announced it it would woud pay interest on its It ing obligations Gains ranged to Ito more than 2 points in 1 Athson The latter later in the week ended January Januar 11 1 had total car cr loadings of ot 22 6 against 2321 in the previous week and in the te corresponding week of t last year Nickel Plate preferred tou touched hed 43 3 up 2 Delaware Delware Hudson n 39 up 1 Great Gret 34 14 up 1 Missouri Kansas Texas Tex preferred pre pre preferred ferre up 1 s Missouri Pacific preferred 6 up 1 New York 30 up s 7 Pennsylvania I 3 34 up and Union Pacific 15 up 1 Most o of tte were at or near their highs for more than thana a a year bringing the Dow So Dow Jones Dow eI s railroad average to a new 1934 were bid up in the early earl trading on belc belief the tho supreme court woud would outlaw the TVA T A just as did the AAA a a. a week ago We When the court failed to give a decision some som selling developed and several lead lead- ers ers' lost their gains They rallied near tho close Automobile issues rallied to th the previous close after early Trading was relatively light al although although though Packard was active Sparks Withington firmed to a new high for the year Wilson company was the most active issue and rose to a new high at lO s up 1 14 Armour was a close second in volume and Armour issues made new highs Sugar issues rallied led by Amerlean Amerlean Amer- Amer lean Sugar Refining which touched to's 55 up 1 and held most of the gain Oils were better with sev oral cral at new highs Several special issues including Cluett Peabody a Freeport Texas and Crown Cork and Seal gained 1 to more than 2 points each Bonds were strong and active led by railroad issues which made gains ranging to more than 2 points Cotton Cotton Cot Cot- ton futures depressed in the early trading rallied sharply when the supreme court dismissed a suit on the Bankhead act without deciding on the constitutionality of the act They fluctuated narrowly to the close and ended with small gains