Imperial Valley press., 1932-08-18
Daily Report Of
Stock Markets

NEW YORK. Aug. 18. U.H : A
rally of 2 cents a bushel in wheat
sent the stock market up fractions
to more than 2 points late today
following earlier irregularity.
Aside from the late advance, the
feature of the way was the rela-
tive dullness. Sales were about
one-half of yesterdays total IL
100000 shares.
The market opened irregular, de-
clined for a time and then rallied
around noon. Further irregularity
came in the afternoon until the
last hour when prices turned up.
Wheats comeback was the out
standing influence. Cotton joined
the upturn after holding barely
steady through most of the session.
Commodities generally were helped
by reports the commodity finance
corporation, new organization
planned to aid corporations and in
dividuals in purchasing supplies of
commodities, was nearing last
stages in formation.
Farm equipment shares jumped
ahead when wheat rose. Case,
which at one time sold at 40, came
back to 542s, up 2ss net, while In
ternational Harvester moved up
from 271s to 29A, up IL.
Aviation shares exhibited better
demand with Aviation Corporation
reaching a new high for the year.
Timken Roller Bearing was up
nearly points in the motor equip
mentS.
Leading industrials were near
the previous close as the end of
the day neared. They were down
in the early trading, but none was
under pressure. Steel common
touched 39lA and then rallied To
around the previous t-oSe of 40A.
Railroad shares as a group made
a good showing around noon and
again near the close. Southern Pa
cific spurted to the lead, rising to
%, where it was up 3la points.
Others of the group were up frac-
tions to more than points. Help
ing the carriers were indications
that car loadings would increase
seasonably from now on. A rise
in the loadingS total was antici-
pated in the weekly report due
Saturday.
American Telephone moved Up
easily late in the day after touch
ing 1922, off IL net earlier. Con-
solidated Gas was a strong spot
all day in the utilities. 1t reached
582s, up 21s, and held. Steadiness
in the figures on production of
electricity as reported by the Ma
tional Electric Light association
aided the utilities, most of which
closed higher.
There was little in the days news
aside from the expected formation
of the so-called commodity pool.
According to preliminary calcu-
lation the Dow-Jones 81 Co. indus
trial average stood at 6795, up "A;
rails 1892, up 1.6; utilities 1925,
up so.
Sales totaled 100000 shares,
compared with 100000 shares yes
terday.
Aggregate market value of 10
leading stocks was s5,968, ,477, 1854
against s5,928, ,075, an increase
of $40,463, ,7S9.
LOS ANGELES, Aug. 18. OPP
Slow trading brought advances to
most issues on the Los Angeles
stock exchange today.
Transamerica was the most ac-
tive, selling 1900 shares at So, un-
changed.
Southern Pacific advanced Ia
points to 21A on sales of 400 shares.
Southern California Edison sold 300
shares at 277s, up a. Pacific Mu-
tual was unchanged at 80 on sales
of 400 shares.
Standard Oil sold 300 shares at
26h, down Is. Union Associates
was unchanged at II on sales of
200 shares. Union Oil also was
unchanged, selling 200 shares at
1917.
L. A. STOCKS
Bid Asked
.................-. 5A SIS
Secllrity-First National so 50k