Imperial Valley press., 1932-08-15
Daily Report Of
Stock Markets

NEW YORK, Aug. Is. (U.P)-Re-
sumption of the rise in wheat TODAY
helped restore confidence in tha
stock market and prices ran up
to more than points, best levels
being reached in the last few min
utes of trading.
The rally was achieved in dull
turnover. Sales in the first half
hour amounted to only 100000
shares, in contrast with 100000 to
100000 for corresponding periods in
recent sessions. BY 2:10 p. m. the
volume was only 100000 shares,
smaller than any day in more than
a week.
Farm equipment shares were
pushed to the leaders. Buying was
stimulated by the rise in wheat
which closed on the highs of the
day at net gains of e to Is cents
a bushel.
j. L. Case was carried up to 52h
up Oh. and International Harves-
ter to 30, up 27s. Mail order shares
joined this rise, since these COM
panies profit by improved farm.
purchasing power.
Several special issues were given
a whirl late in the day on what
appeared to be pool support.
Among these were Holland Furnace
and Johns Manville.
Leading industrials moved I'D /
to more than 3 points, under the
leadership of United States Steel.
Among them were American Can,
General Electric, Westinghouse
Electric, Eastman Kodak and Allied
Chemical. Auburn Auto spurted
more than points on short COW
ering. General Motors rose moro
than a point for the same reason.
DUPONT advanced 2 points follow
ing reduction in the annual divi-
dend from So to So.
American Telephone was the ia
vorite in the communications, ris-
ing more than points, while In
ternational Telephone and Western
Union rose more than a point each.
Gas and electric utilities also
moved up. Reports were circulated,
without confirmation, that direc-
tors of American Telephone would
order the regular S2.25 dividend at
their meeting Wednesday.
New York Central led the rails
into higher ground. 1t rose more
than 3 points as did Atchison and
Union Pacific. Others were up
to more than 2 points, and rail.
road bonds resumed their rise in
the bond section.
Sentiment in the financial COM
continued hopeful of early
in the major industries.
The street looked for gains in car
loadings in the latter part Of
August and signs of improvement
in the steel industry were being
reported although the industry as
a whole was still operating at II
to Is per cent.
Brokers reported inquiries from
all parts of the country for advice
On stocks to buy.
According to preliminary calcu-
lation, the Dow-Jones & Co. indus
trial average stood at 66.51, up 3.32;
railroad, 1929, up 2.75, and utility
28.75, up 1.68. 81
Sales were $1,900,00O shares. COM
pared with 100000 Friday.
Aggregate market value of 10
leading stocks was $5,992, 2,176,316
against S5,609, ,603 1861 Saturday, an
increase of S282,572, ASS.
LOS ANGELES, Aug. Is. U.P)-I
Most issues advanced fractions and |
more than fractions of points dur
ng somewhat dull trading on the
Los Angeles stock exchange today. |
Transamerica was the most ac-
i've, selling 1900 shares at 51s, up
Is. Pacific American Fire Insur-
ance advanced rs to 97s on sale
If 500 shares.
Standard Oil sold TOO shares at
26A, up point. Union Oil ad-
Is to 1917 on sales of 800
shares.
Southern California Edison sold
400 shares at 27as, up 17s points.
Edison 515 per cent preferred ad-
vanced 4 to 21A on sales of 300
shares. Claude Neon was un-
changed at on sales of 200 Shares.
L. A. STOCKS
Bid Asked
Transa noerira 5A 51A