Salt Lake Telegram | 1937-02-19 | Page 27 | War Supplies Soar on Mart

WAR SUPPLIES ' -SOARJ):i!.!ART- By ELMER C. WA1ZKB '" 'United Free Financial Editor NEW YORK, Feb. 1 Armament stocks soared Friday to keep pace with demanda for war materials in many countries. U. 8. steel and Bethlehem mad new high since 1931, gaining more than 4 points. All nonferrous metal shares except gold, were buoyant. Electric boat was a favoriU, reaching reach-ing a new high for the year at a gain of mora than a point The rail average reached a new high for the year. Utilities were better. Soma oils mad new highs. There was considerable profit-taking profit-taking under cover of strength In some shares. American Can met selling and lost more than a point. Case waa off -mora than point. Motor shares were barely steady. Paramount, Montgomery Ward and Douglas Aircraft had losses af fractions frac-tions to more than a point. American Smelting gained mora than point and new higha were made by Anaconda, American Zlno issues, Phelps Dodge, How Sound, International Nickel,. Kennecott, Patlno Mines, St Joseph Lead and U. S. Smelting. Stock of metal fab- " ricatora also were in demand with new .tops In International Silver Issues, Bridgeport Brass and Revere Copper ft Braaa A. Crucible Steel Jumped 4tt points to a new high at 71 V while National mada a new high at M14, up 1. Youngstown Sheet ft Tuba nd Republic Re-public gained a point Wheeling Suet was up mora than a point American Telephone mada new low for the year at 176 H, but later met support that brought It to above 178, ; against a previous close of 171 tt. Western Union mad a new low at 7414, off 1, and recovered a point Gaa and electric utilities firmed after a aetback that eent Consolidate Consoli-date Edison to a new 1M7 low. Electric Power ft Light American Power ft Light American Waterworks Water-works and American ft Foreign Power were favorite. ' Several rails were carried te new tope. Including Baltimore, ft Ohio, New York Central, Northern Pacific, Pa-cific, Pennsylvania, . Missouri-Kan-aas-Texaa preferred, Erie common and first preferred, Missouri Pacific Kiferred, Lehigh) Valley and Illinois ntral. Bonds mad an Irregular advance. "Retail trad, according to Dun ft Bradetreet, registered gain of 12 to M per cent this week over 1936. Wholesale trad we up 25 to 33 par eent