Imperial Valley press., 1932-09-07
Daily Report Of
Stock Markets

NEW YORK. Sept. Z u.P) - A
sensational buying movement in
the automobile shares put new life
into the stock market today and
! prices quickly resumed the recovery
interrupted by yesterdays realizing
movement.
After a morning of irregular price
movements, the entire market swung
upward toward noon, picking up
momentum on the advance Before
the close gains of l to nearly 10
points were established in a long
list of stocks.
Motor shares furnished strong
leadership for the market after
many months of inactivity. Bring
ing forward of these stocks quickly
kindled speculative enthusiasm and
the entire market doomed toward
the close, sharp rises occurring
throughout the list.
Other groups showed impressive
strength. coppers, utilities, COM
munications and aviation issues
rising sharply. While leaders like
United States Steel, American Can
and Allied Chemical were strong,
interest centered on low price is
sues, indicating the growing out
side participation in the market.
The appearance of a sale of
$4,000 shares of General Motors at
10 in the early afternoon, gain
of p points, was the signal for the
flood of buying in the automobile
shares, in which most of the equip
ment issues participated. Later a
sale of 5000 shares of General
Motors took place at 10 after which
the stock continued its rise. Au-
burn was again the largest point
gamer, rising 10 points to 7014 on
operations of a powerful pool.
Laggards Move
Laggards like Packard, Hupp,
Hudson and Graham-Paige sprung
into activity, large blocks of these
stocks changing hands at frac-
tionally higher levels. The pool in
Chrysler found the going easy, the
stock rising more than a point to
a new high for the year at 207s.
Along with the automobile shares,
United Aircraft climbed several
points, Dupont, which has large
investments in General Motors.
rose more than points.
Many of the low-priced favoriteS
like Radio Corporation. Montgom-
cry Ward. International Telephone
and Adams Express were turned
over in large blocks, all of them
reaching new high levels for the
year.
According to preliminary calcu-
lations, the Dow-Jones & Co. in
dustrial average stood at 1891, up
2.63 points; railroad 1905, up LOG,
and utility 36.11, up los.
Sales were 4,200,000 shares COM
pared with 100000 shares yester-
day. OF today's total, 100000
shares were traded in the last hour
when heavy trading put tickers
four minutes behind the actual
market.
A5sACSdtC uldlhtl Ndlue OI ~
leading stocks was S6,879. .488, ,101
against s6,599, ,6S2 ,649 yesterday, an
advance of s289. .9O5, ,452.
LOS ANGELES, Sept. 7. U.P)-
Advances of fractions to points
were reported by most issues dur
ing fairly active session of the
Los Angeles stock exchange today.
Union Oil was the most active
stock, selling 2600 shares at las,
up a; Bolsa CaIca sold 2200 shares
at 3a4, up IS; Union Associates ad-
4 to 1872 on sales of 1000
shares; Standard Oil sold 900
shares at 81, up Y; Pacific West
ern advanced i to 54 on sales of
300 shares: Hancock struck a new
high for the year when 400 shares
sold at 90, up IS.
Transamerica sold 2400 shares at
61s, up Is, Southern California Edi-
son advanced l point to 80 on sales
Of 400 shares.