Salt Lake Telegram | 1934-05-10 | Page 20 | Grain Upturn Helps Stocks

ORAIN Market Steadies Alter Ranging Up to 4 Points Close Is Lower By ELMER C. C United Press Financial fl NEW YORK May Thursday descended to the year at losses ranging more than 4 poInts in the Isn 14 points in and r. r I j I 1 I 1 carried It up of 5 cents a bushel for the day in steadying the market rat lied from the lows but closed most instances Dozens of leading issues made na lows for the year or longer Among them were 73 S. S sc which touched 42 off 2 Western Union 41 off 3 Electric off 2 Allied off American Cn 94 ott 2 AmerIcan Smelting 35 Bethlehem Steel 33 off 3 40 off 3 du Pont off 2 General Motors 31 off 1 issues rallied fractions to 2 the lows Railroad issues were hard b 4 the decline with Union Pacific tou lag off Atchison 54 cu 4 points and New York off The latter was a new loi for the year Selling in the raiLs was heavy on fears of a wheat shortage which would reduce of those carriers considerably Despite the sensational j wheat and strength in other grain farm equipment shares were de pressed Case at one time sold t tott ott 4 points Mali order issues weak ened then rallied with the market I Silver issues declined for a when silver futures were At the low U. U S. S Smelting was at ill off 3 points It later rallied to for a gain and other sliver stocks followed Rubbers were down with rubber futures which lost about cent pound Sugars were quiet as reacted downward on taking Oils were dull p formed better than most groups though the average made a new since December 27 Near the close several special issues pushed through their previous leveLs Included were Spiegel May Stern which lost 8 points yesterday Radio corporation preferred B and American Telephone 1 Stock sales approximated shares against shares Wednesday Curb sales were shares against shares Wednes day