Salt Lake Telegram | 1936-09-25 | Page 25 | Uneasiness in Foreign Exchange Depresses Stock Mart

ESS IN INu FOREIGN N EX EXCHANGE ANGE DEPRESSES DEPRESS S STOCK MART SELLING BURST T TAXES AXES TICKERS By Dy ELMER ELl C. C V ALzER United Pre Press Prell Financial Editor NEW YORK Sept Marketa 25 reacted Friday to a crisis 1 ia h tho to fr franc frano no situation Stocks Stock lost fractions to moro more tan than 2 points poin In ft a burst of soiling that tat cus caused d tickers tickers' to t lag throe minutes min nin- utes utu in tho the lato late morning Thereafter There Ther- Ther after ater the list quieted somewhat and Ma leaders camo cao back bak from the tho lows U. U S. S government government- bonds were de depressed depressed de- de pressed presed and French government bonds bonde dropped as a much a as 9 points points' but Fren French lj railroad bonds rosa rose oso Th Tho dollar doUar soared soared The franc tank sank far below its gold od point ad vast vat mount amounts ourt of gold were enga engaged d for shipment nt to New York Action Acton leading toward d devaluation of ot the ta franc week was wa wa anticipated over aver the th Rails 11 lilt Hit Ht First Railroad shares h har word were the first to decline and some ome of the the- te W was wM said jo to t bo be coming from for lor- eigners Losses Loes extended to more moro than 2 points in Atchison Losses Losea Les Lesot of ot a point or more were made mado by by Now New York Central Union Pacific Southern Pacific Southern Railway Railway Rail Rail- Rai way and ad Illinois Central Johns Manville lost 2 points D Declines De D. clines of ot 1 to 2 points poInt were we're- made by American Can C American Car C Foundry A Auburn burn Auto Chrysler Chrs- Chrs Chrys Chrys- ler Bethlehem Betlehem Steel Briggs U. U S. S Steel Case Cae Celanese Du Pont Pont General General General Gen Gen- eral Motors International Nickel Nickel Loewe Lews Montgomery Montgomer Ward National Na lonal Cash Register Pullman Pullan Standard of New Jersey U. U S. S SmeltIng Smelting Smelt Smelt- ing W Western storn Union V Westinghouse Air Brake and U. U S. S Pipe Foun Foun- dry Few I Issues ues' ues Strong A few stocks were strong Colorado Cl Cot Col orado Fuel issues h held ld gains tho the d making maing a 1 n new high at 37 up 3 38 points on a a favorable favorable favorable favor favor- favor favor- able earnings report report Yellow Truck Truc Wright CurU A A. Anaconda Anaconda Wire Cable Marshall Field and ad Mid Mid- continent Petroleum made mado gains gans of fractions to m more re than ta a point and ad held p rt of tho the rise Trading picked up tp again near the te close and many of the tho to loading leading lening Issues is issues Is Is- sues which had recovered in the thelast thelast ta talat last lat half halt hour sagged again to t new v lows for the session While VUc the tho to action of tho the New York market reflected concer concern over the tac tran experts believed that its it devaluation devaluation de de- de valuation has been amply aply discount discount- discount ed The stock unloading today was today was done by nervous folders The market market market mar mar- ket weathered without a qualm qua the te abandonment of the gold standard by Great Britain five years yea ago to to- to day On te the Paris Pal bourse prices prices' shot up and traders traders' bought for tor cash cah t when bourse off officials lais eliminated margin dealings French nationals nation nation- als 1 bought as a a 1 hedge against agist possible possible possible pos- pos sible devaluation lon