Salt Lake Telegram | 1938-10-15 | Page 13 | Elected Industrials and Utilities Climb to 1938 Peaks

INDUSTRIALS AND UTILITIES CLIMB TO 1938 PEAKS PEAKS FRESH BUYING ENTERS MART By VICTOR EUBANK Associated Press Financial Financil Editor NEW YORK Oct 15 Selected 15 Selected industrials and utilities hit the high spots jn in Saturdays Saturday's market on a a rallying fast fast swing that landed nu nu- nu- nu issues in new territory for forthe forthe forthe the last year Business optimism partly party in connection connection con con- necton with roseate expectations of huge government spending for armaments armaments arm arm- aments together with additional signs of greater cooperation between the power companies and the government government government gov gov- helped to bring in fresh buying brokers said Particular strength was exhibit exhibited lt- lt ed by aircrafts which stand to profit extensively if i the national defense program comes up to forecasts Coppers pushed along as mounting mount mount mount-i I ing prices for this metal were fore fore- seen Several specialties were hard to acquire J Jand ains ran to 3 or more points point and notwithstanding insistent prof prof- taking it at atthe the close most favorites cose ended at or or near the te best While the opening opening was a trifle trie mixed bidding soon got under way at a speedy clip and during the initial hour the ticker tape was behind as much as two minutes with the turnover in this period amounting to shares For the brief session transfers approximated shares Steels had their moment as mill mi operations next week were were thought likely to register another another another an an- other other upturn Price cutting in inthis inthis inthis this field feld however was someI somewhat somewhat some some- I what of a retarding influence and most slipped at the finish Motors aJo also held to a slim groove grove fears of future labor troubles in interrupting interrupting in- in expanding output and digging into net earnings acting as asa asa asa a brake on this department Rails Rais generally were a shade under under under un un- un- un der water throughout despite despie satisfactory satisfactory sats sats- satis satis- factory freight traffic increases The wage controversy was still ti a cloud over the carriers Conspicuous on the advance were Douglas Aircraft Boeing Sperry Glenn Genn Martin United Aircraft Consolidated Consolidated Con Con- Edison Electric Power and Light Public Service of New Jersey Anaconda Phelps-Dodge Phelps Westinghouse du Pont Philip Morris Morris Morris Mor Mor- ris and Dow Chemical