Salt Lake Telegram | 1936-05-02 | Page 13 | Rices Sag Fractions to over Point in Dull Trade

I IlCES ICES SAG FRACTIONS F TO S TO OVER VER POINT IN DULL bULL T TRADE RAPE FRIDAYS FRIDAY'S FRIA YS Y'S GAINS k ARE WIPED OUT i i By fly EIER ELIR C. C United Press ress Financial t Editor Edior NEW YORK May ay 2 Prices 2 Pr Prices y sagged fractions to t more than tan a a. a. a V 4 point in a dull dul short abort session on ou tho to tock stock ex exchange chango Saturday Saturday wiping out Fridays Friday's gains gain V American Telephone was wa wa depressed de- de J pressed presed to within small maU fraction preSed a a mal t of liz its It low for the tho ta year before mod mod- t crato crate support wa was encountered encountered Allied Al- Al A. A lied led Chemical lost the te 3 it 5 gained Friday Fray Du Pont Ponta a was down more than a a point and losses rangIng rang rang- rg- rg A ing ng to 2 points point point or moro more were noted In n Case Cae Midland Steel Steel National Steel Electric I Inter Inter- er- er u JJ national preferred preferred Harvester Hareter and ad U U. S. S Rubber v Autos Hold I f Automobile e Issues lue held beld fairly fairl i well with wih the te leaders off fractionally around aroud closing cosing time Most c of the te railroad shares were were depressed fractions fractions frac frac- tons to a point and the te utilities lost small smal amounts amount Oils Oil slipped off of after earl Airplane issues were easier caster cater with wit United Aircraft of off nearly nearly near near- near ly a point point Douglas regained part part of ofa a loss of than more tan a point point Cop Cop- pers lost fractionally but gold shares were firm Silvers were med mixed with wih American Smelting down a point and U. U S. S Smelting up more than tan a a. point point Radio Corporation held around the previous close despite te despie a poor report for the first quarter Net profit for that tat period amounted to I against in tho the y corresponding period of last It year I Steel shares slipped sUpped back when it was Wa indicated the nations nation's naton's steel operating rate rte might be ho lowered moderately next week The Youngstown Youngs Youngs- town district district it is i expected will willbe willbe wi be reduced about 3 points next week Pittsburgh is s expected to start the new week at 63 per cr cent of capacity a aa a decline of 2 points point from Irom this week r rA rA A year ago ago- ago the Pittsburgh rate was wa 35 per jer cent cert Chicago was wa expected to hold steady at 74 per er cent cent Dealings Light Dealings in the tho main list were exceptionally light even for a Sat Sat- A few timid shorts short covered just before belore the close and their coso buying buy buy- buy buy- buying r ing brought prices up slightly from ro the lows eo Foreign exchange markets market continued con- con dull duJ The French franc t cased eased slightly and was around the i gold export point point Grains were svere were fractionally lower Jower Cotton futures c. c were barely steady as were rubber futures a aThe The market dropped to new loWground low lowground lo ground for tor 1936 this week and th then n met meager support and ad rallied from its it lowest levels leveis The week rounded out the tho month of ot April Apri which in addition to setting setting set set- ting a new low for tor the year marked the years year's high on April Apri 6 Bonds followed the te trend of oC stocks stock Com Com- d. d modUle also receded Business re reports reports re- re ports on the tho average were the te b best t. t since 1930 although there we were e signs of oC a seasonal slackening ing