Salt Lake Telegram | 1937-07-13 | Page 21 | Stocks Turn Irregular after Rise Paced by Steels

STOCKS TURN IRREGULAR AFTER RISE PACED BY STEELS GASOLIIIE I1IXE LIFTSOIL LIST By ELMER C WALZF.R United Prase Financial Editor NEW YORK, Juy II Stocks settled set-tled down to quiet Irregularity Tuesdsy while grains soared, with wheat up the limit of fluctuation. United Bute Steel led stocks higher In early trading when H reached a new high for the movement move-ment at 113 S-S. It later declined ' to 111 3-4 and other Issues eased with It Before the close) Steel cam back to above 111. A rise In gasoline price in the east aided oil shares. The European Euro-pean situation and far eastern trouble apparently were ignored. Traders hoped for a high rat of steel operation, but none anticipated antici-pated a rise to the high of the year set April 36 at 62.3 per cent erf capacity. ca-pacity. Chemicals Advance Chemical issues and some special stock Joined oil on the apeide. Aviations, u till ties, farm share and amusements were mixed. On the downside were coppers, railroad Issues, Is-sues, motors, tobacco and rubbr. -A- fir mount -of birying eeme-Into eeme-Into Newport Industries, which mounted to 35, up 1 1-2. Demand for packing Issues, together to-gether with firmness In oil, provided pro-vided the only Interest. Packer were expected to profit from higher high-er prices. Armour and Wilson gained fractionally. Among other gainer were American Amer-ican Can, Du Pont, Phillips Petroleum, Petro-leum, which mad a new high: Radio, Ra-dio, Texas Corporation and Union Pacific. Beach Higher Level U. 8. Gypsum gained more than 2. Sloes Sheffield was up at Hs high, but lost half the gain. Budd Manufacturing preferred spurted T point on a single sale. Chrysler touched 103, off t 1-4, but met support. General Motors at its low was off nearly a point Atchison was down mora than a point. Fractional losses were noted In New York Central. Baltimore Bal-timore Ohio, Pennsylvania and Southern Pacific. Late trading waa very dull hut American Can Jumped mar than I point Just before the final gong.