Salt Lake Telegram | 1928-09-19 | Page 8 | Traders on Big Board Nervous

TRADERS ON N BIG B BOARDNER ARU U Buying and Selling Waves Wave Sweep Market as Call Cl Mon Money y Advances By VICTOR SCALES Associated Press Prel Financial Editor Edior NEW NW YORK Sept Sept 19 1 AP- AP Waves Waves ot of buying ing and welling eUn alter alter- ater- ater natel l' l swept through the te stack ma- ma maket ket today toay with price fluctuations running as a high as a 5 and GO 6 points points The Te nervous activity It acU ot of the tle market mar mar- ma- ma maket ket reflected renewed apprehension ap- ap ap- ap apI I over the money situation heightened by the te rise in call cl rates from rm the renewal of 7 1 per cent first to 7 1 and then to S 8 p per cent cent Banks Baks lied hd called cle upwards ot of In loans oy by nn and In early ely afternoon after after- ater- ater noon rOn prices s generally began workIng working work work- Ing toward lower levels le Some consideration appeared to have bave been given house advices g en lightening or of speculative commitments but the tho did not deter extensive pool pol These were ere mOt most effective the tive in a wide assortment of stocks selling between 20 0 and ad 50 50 per share and many ot of these previously n neglected rose to 2 to 6 to new high prices for tile the year er Among them were Kelsey Hayes Wheel tich moved up 6 points point t to 43 and Walworth company up 4 points to 23 also alo a new peak pek Gains of oC 2 to a 3 points pints were ere to- to Corded by St St. Sl Joseph Joeph Lead Ld Amen Amen- Aeri- Aeri can Zinc U. U S. S SmeltIng American Metal Reading Philadelphia Coal end ond Iron American Woolen olen and l Products Temporary outbursts outbursts out out- bursts ot of buying carried Freeport leeport Te Texas a up S 5 points General Generl Aerl- Aerl can cn Tank C Ctr r responded to announcement announcement an- an an- an that stockholders stockholder will willbe wl be gl given gln n the opportunity tomorrow to subscribe to stock stok on favorable terms by soaring more 7 1 points to 90 a a new 1928 1923 peak pek Official announcement ot of an important development In the corn corn- cm- cm offering PlIny's affairs is i to accompany the te ot of strength also were hown by Radio Montgomery ont omer Ward ad U. U S. S Cast Cat Iron Pipe Curtiss Aero and A A. A tl I. I Beyers during the te fore fore- noon Among mong the Issues hit rather hard ha by this tl waves wa-s wa wa Case Cae Threshing Machine which lost 9 points Cerro de Pasco U. U S. S Steel General Motors and asco American Smelting Smelt Smelt- ing were among pivotal Industrials that yielded a a point or more ot of their recent advances advance The coln closing was irregular Some of the earlier weak features reversed their course in the final hOur when accumulation appeared to be under underway way again in of the influential shares Atlantic Refining reached highest since the per cent stock dividend was declared in 1922 Fleischmann at sly was much the best of pros pros- ent stock and rails were inclined to follow up the rise in St St. Louis Louis- Southwestern and Lehigh Vale Vale- Extensive Oelling however was going go- go ing on in other sections of the list after a further rise in call money to 8 per cent highest since July 2 Total sales approximated 2700 shares