Salt Lake Telegram | 1937-07-30 | Page 25 | Demand for Steels Features Stock Market Activity

DEMAND FOR STEELS FEATURES STOCK .MARKET ACTIVITY SHARE ADVAI1GE j IS IRREGULAR By ELMEB C WALZTB . Fnltetl Preee FtasatcaaJ TxMar NEW YORK, July SO Stocka end bonds made an irrwruiar advance Fridsy in light trading, while trsine , were mixed and cotton rallied slightly. 1 Features In the share market Included In-cluded ftrmneas In alee la, activity in oils, weakness In Yellenr Truck, new highs In Loew'a, Bocony Vacuum Vac-uum and Wheeling Steel piorened and new lowe for the year in Mun-singwear, Mun-singwear, McCa.ll conMaraticag and Reliance Manufacturing. The latur declined 4H points to 17. , Demand for steels was aa early feeturo, baaed an favorable reports from leading steel cocnpenlao U. 8. Steel reached 11. 5-e, up l -s; Wheeling 5 T-8. up 1, and its pre. ; ferred 121, up ti; Bethlehem M 1-, up 14, and National M, trp 4. Steels led the market higher for a time, but when railroad Issues turned down in the early afternoon the general market dipped (ram the highs. The carrier group had losses ranging to nearly a point A smaller than expected rise in oaur loadings and uncertainties ever the railroad wage question affected the stocks. Automobile issues made amaO advances. ad-vances. Heaviest trading was done in Yellow Truck, which dropped to 21 4. off 1. The company reported first half earnings equal to only M cents a share, against Tl easts a , share In 156. Active oils were Tide WeUr Associated, As-sociated, Booony Vacuum, Pure Oil and Texas corporation. AH had small gains. Phillips rose a point. Electric Power at Light led utilities utili-ties higher. It reached 14 for a gain of nearly 1 points. American Rolling Mill continued to respond te Its earnings report, which set a new record. Anaconda, Johna-Manville, Case, St Joseph Lead, American Tobacco B, Flintkote and Otis Elevator Ele-vator were up a point or more each. Union Bag Paper gained 4 points to 1$. Baldwin preferred Jumped (Vt to SS en 200 chares. Illinois Illi-nois Central preferred lost 4 points to 4L Mercantile Issues were firm.