Salt Lake Telegram | 1937-02-16 | Page 31 | Attempt to Push Mart Higher Leaves List Irregular

ATTEMPT TO PUSH MART HIGHER LEAVES LIST IRREGULAR COPPER BOOSTS liliiQ SHARES By ELMER C WALZER ' ' United Fresa FlnatKtal ratter NEW YORK, Feb. 1 WaU Street tried to put the stock market P Tuesday by stimulating activity in several croups, but the set result . was a alight pickup In activity and Irregular price movement Copper shares responded to a one-cent one-cent rise In price o( domeetle copper to 14 cents a pound, a new high smos early 130. Tbea knr-prioed railroad shares war whirled ta new highs on nothing mora eonstractiv than their cheapness. Later utilities developed de-veloped activity and soma mowed higher. Meantime many Individual stocks made gains in selective buying. buy-ing. Selling lightened and tha foreign element seemed ta be resting rest-ing pending -definite determination at Washington on a course to check Influx of foreign funds to American markets. Tha rise In copper price B rough out considerable short covering. - Leading issues Kennecott, Anaconda, Ana-conda, Cairo da Pasco, Howe Sound and Inspiration rose 1 to more than 2 paints and held a fair amount of tha gains. - Lower-priced rails, including New Haven-issues, Chicago 4s Eastern Illinois preferred- Chicago, Milwaukee, Milwau-kee, Stv Paul - Pacific preferred; Chicago Northwestern preferred, Missouri Pacific preferred, and Wabash Wa-bash tuuea made new highs. High-grade High-grade rails were narrow movers. Douglas Aircraft advanced deeptta an unfavorable report for It fiscal rear ended November 80. Boeing was pushed' up mora than point and Curtiss-Wrlght issues mads fair rains. . ... Tha rise In 'Utilities was featured by tha Standard Gas group. Preferred Pre-ferred stocks of that company had gains ran gin gto nearly 8 points. Columbia Gas was active and slightly slight-ly highsr. Electiio' Power and American Power and Light made small gains. Steel shares were depressed as much as 1 8-4) points. U. 8V. Steel touched 104 V4. It ralilad from tha low. Chrysler ran up to 13JV4, up SU. General Motors dipped early and then came back to around the previous previ-ous close. Studebaker mads a new high for the year. Truck atocka made new highs. Nash-Katvinator rose on settlement of the strike In its plants.