Salt Lake Telegram | 1939-08-29 | Page 20 | Traders Swing to Buying Side as Fears

r TRADERS SWING 3 TO BUYING SIDE AS FEARS FEAR'S DECLINE tl t SHARES MOUNT 1 TO 3 By VICTOn VICrOR Vc EUBANK j I Associated Press Tress Financial NEW NW YORK Aug 29 Ed Elti the European political poker poke g vi still sti under way and the PIa ga seemingly Indisposed to towar r ii war bet Wall Wal Street turn the buying end of the 1 ket Icet Tuesday and lifted stoc BS mal fractions to around 3 points While sentiment improved traders exhibited In Iii Jr boardrooms no mss ma a take on fresh great geat urge Ing further signs sig the the pena powers power would alJ the present conflict to confine a war words wax wax- l 1 st start Dealings re There mere were were slow SW Interim lr front from W The te i letdowns lot In the but final quotations trend tend were neat the nee best te Transfers for tor the five flye ho hours approximated 50 shares shares hour on ont of the smallest turnovers for a full ful session In two weeks week fori Lead Lad Market Higher Steels motors motor rubbers coppex rails raUs utilities and specialties ra about rn neck and In the forward for for- ward The tilt tt early upswing followed 1 I 1 ports port orts from Berlin later that the latest British note to demtd m flit ler was conciliatory and tot the door wide open for an ar a a ment of the Polish dispute to U the liking of the nazis t An offset came In dispatch from England quoting Prime Pre 11 M Ister Chamberlain Chambelain as telling a an emergency meeting of parliament a that his government was wa firm with wih Poland and was wu ready for any eventuality read M Speculative forces consequent ly y could lean either way in d most Interpreted the Items as a more constructive tins than th otherwise Also the opinion wu u widespread that war or no war wa the swing In this country toward business expansion would pick pic op ip momentum In the closing cosing mo months th of 1939 m I 1 Foreign Markets Rise Rie M f The Te New York market to took i cue In the forenoon from front forel centers where as a the reust relt ol ci l i mild mUd revival of optimism over tb 1 tbs international scene price w wert bid up at London Paris Par and ad Am AJ A On the domestic board proof prom J nent stock gainers Included U US S S Steel Bethlehem General Motor ron i Chrysler U. U S. S Rubber Wetz f house General Electric Anc 1 A American Telephone Cnn cd ed Edison Santa Fe Union Cir bide Sears Scars Roebuck Loft Lt Titu I craft Corporation and Douglas Dougla Air A 1 Bonds especially U. U S S. gov govert ments came back Wheat usually aim u. u ally aly up as war clouds dake darken tumbled in world grain gain ill grain At Chicago this cereal was WI Jil off I 8 11 14 to 1 8 5 cents a buhe bushel but bat cp up lP from the lows Corn conceded concede to 1 Cotton Coton In the afternoon was wa up 40 to 55 cents cent a bale fc Advance In Curb J Doing better beter In the curb cub were Electric Bond and Share She Lock Lockheed Loc Lc heed American Gas and Intern Iter tonal Petroleum I IThe The slightly brighter brought an upward rever to h I recently weak sterling exie at London wea and a mark down i i gold bars bar at that center On the home front there u WeB were we- IA plenty of ot cheering business USI it 1 Steel operations at t Pt Pits Pill burgh displayed additional c CURb Indications with purchases i ithe of l Ing wit puces the metal principally from dome dot tic Satisfactory MI HiS tc sources at atad and ad production of were not not overlooked 1 Notice was taken of the CO CM c ments merits of wa Acting Secretary of t u Treasury Hanes in which I stressed Treasur Indications are that B f f. f ther recovery is under uder way way- Loan Lan Figures Noted Noted were the federal res reser banks In ill J II figures from member bank I cities cUes for lor the week end ended d Au Aup 23 disclosing an Increase of 26 J 2 In commercial 00 and ana agricultural loans loan and ad a an do doof of In loans loan to broke Demand deposits were deposit I to have expanded New York City In I O 14 Boston cago In 14 I 2900 00 In Cleveland Ceveland 10 0 each In Philadelphia and Francisco Francsco and In iii I 1 districts t On r the side of rails ranJ was WIS wa t. t statement of the American Railroads operating Income for class I 1 In the first seven ca t S this year totaled against In the time tie last year I i