Salt Lake Telegram | 1936-03-02 | Page 15 | Rally Headed by U. S. Steel

I RALLY HALLY HEADED BY U U. U S. S STEEL By EL ELMER IER C. C V ALZER United Press Financial Editor NEW V YORK March 2 UP Us- Us Stocks rallied Monday under the the lead ead of or U. U S S. Steel common stock which made a a. pew V high Bines 1933 Rails Ralls were slow alow getting into line since ince the they were hampered by the I. I C. C C. C order to cut passenger fares ares but hub they joined the recovery recovery recover just before the close Utilities also swung forward with Columbia Columbi Gas Gal Gasa a favorite International Nickel Nickell featured tho mines with a gain of more than titan a a. point Best Beat performance however was wasn In n tho the industrial division U. U S. S Steel crossed 65 against a previous close of 63 1 18 Bethlehem of New of-New New Jersey Jersey- made a a. new high for the year Demand Increased when the American Iron Steel Institute announced announced announced an an- scheduled operations for forthe forthe forthe the industry this week at 53 per percent percent er- er cent of capacity against per percent percent percent cent last we week k and per cent a year ago J. J I. I Case Jumped 5 points to to- toa anew a new high in a strong farm implement ment meat section and held more than half of it The decision of f the administration ad ad- ministration to keep farm relief reBel running running running run run- ning by a new tax tat levy induced traders to buy farm shares on the tha theory farmers would buy Implements mple- mple meats ments with their government funds Oliver Farm jumped 3 points to a a. anew anew new top and International Har Bar Harvester Harvester vester was in demand Sugars wera bid up with willi new highs in American Great Western and South Porto Rico Refined sugar prices are aro strengthening and nd tho the futures market firmed Some Somo circles talked a 8 shortage of sugar in sugar in inthe the offing with consumption now outstripping because of artificial restraints Detroit Interests were reportedly buying automobile shares New New- demand was noted for Chrysler Chrysl r Auburn Au burn General Motors and Stude- Stude baker The last made a new high and others other were up fractions to more than 2 points point the best gain in Chrysler Activity and strength also aLQ were noted in Nash and Packard Automobile output gained last week and further increases are looked for foe this week weck Pure Oil rose to a new high at 21 8 7 up 1 8 7 to head a firm oil group Improved earnings bought buying Owens Illinois Glass soared oared more than 7 points to a n. new top American Can jumped 4 points American Zinc preferred was up more than 8 points at its high and held most of it IL Douglas led a a. rally in the tho Mercantile shares improved with Marshall Field and Nati National nal Department Stores preferred at new highs Schenley eased after its favorable earnings report was made public