Salt Lake Telegram | 1936-10-15 | Page 25 | Stock Market Featured by Buying of Metal Shares

S STOCK M MARKE T FEATURED BY BUYING OF METAL SHARE bil i GENERAL LIST t tENDS ENDS IRREGULAR fly q 1 By y ELMER C. C I. I United Press Tress Financial Editor t NEW YORK Oct 15 UP The UP U Te The stock swung about ner Thursday featured only by steady buying in metal shares on reports re reports re- re 1 ports of increased armament activity ity abroad f t F Trading quieted and in only one oI period period shorty shortly after 2 p. p m. m when I the professionals swept into acton action i was there any resemblance of the trading pace maintained last week The general list finished irregular i iI with most losses within a Q point I range I Strength in metal shares came came after the export copper price rose to ton to J 10 cents cents cents' a pound the highest level J since 1931 In addition additon reports j I reached New York of an expansion 1 of 5 points in the production rate rat 1 of foreign producers These both both- boUl j were traced to heavy demand th the bulk of which came from armament makers J Foreigners reportedly were fairly j heavy purchasers of American metal j shares Anaconda Cerro Cerro de Pasco Paco American Smelting Phelps Dodge all al rose to new highs for the year j jon on gains ranging ranging to more than 31 points Most of the advances were maintained J I. I Railroad shares were in early trading the averages pushing into new ne highs for the year but later I these dipped to show irregularity irregularity Pennsylvania made a new high at 44 and Atchison Topeka SantaFe Santa Santi Sante Sant- Sant cc Fe e was almost 2 points higher Later they declined to fractional losses losse losseS losseS' n r i Baltimore Ohio was weak on on rumors that the New York Central coi would divert traffic to Baltimore to the Pennsylvania instead of over the theBO B. B O. O 1 Industrial issues were mixed U.S. U.S. U.S. U. U S. S Steel held fractionally below t the ti u gl i previous close through the entire session as did Bethlehem while Chrysler dropped almost a point and General Motors eased fractionally I Utilities held fairly steady Ameri Amer can Telephone remaining around th the s previous close despite the quarterly earnings report which showed the I. I I 5 dividend earned for the te first tm time timi tb since 1931 Schenley featured dis distillery distillery tillery tiery issues by rising to a r new new high J I rU e ehigh G J. J I. I Case jumped to for 4 f points gain after showing an early b fractional loss while Deere Co showed more than a point gain at 9 92 c