Salt Lake Telegram | 1937-10-06 | Page 1 | N. Y. Stock Market Stages Rally to Overcome Sharp Early Drop

N. Y. Stock Market Stages Rally To Overcome Sharp Early Drop NEW YORK, Oct. (UP) Stocks rallied today after another sharp setback at the opening brought the market into new low ground since 1935. ' Led by steel issues, stocks in all sections recovered and the market averages recorded gains in early afternoon af-ternoon trading. Bonds followed ths course of stocks. Steel stocks made broad recoveries recover-ies from the lows. Farm equipment issues rallied, featured by Deere, which reached 100, up 2 points net from its early low of Texas corporstlon touched 45V. and rallied to 4. up 2 1-8 net. Among the other issues to register gsina were General Motors, rising from U to 47, up 1 3-8; Du Pont from 133 to 130, up 2'4; Montgomery Ward ' 434 to 43, up 7-8; Southern Pacific 27S to 2V4, up : Westinghouse Electric 105', to 110. up ' I Consolidated Consoli-dated Edison 27 3-8 to 28,i, up '-, and Paramount from 13 to 18V, up . NEW YORK! Oct. 8 ( The price of domestic copper dropped to 12 cents a pound today, with a leading lead-ing smelter quoting the new figure. After reaching 17 cents on March 31, the price broke sharply and leveled off at 14 cents from lata in April until September 27, when it broke to 13 cents. From 1175 cents it fell to 12.90 cents yesterday and down to 12 cents today.'