Imperial Valley press., 1932-08-10
Daily Report Of
Stock Markets

NEW YORK, Aug. 10. (U.P)LTht
stock market swung l TO S points
upward during today, and kept
most of its gains.
Traders ignored a horde of fac
! tors that in recent times would have
been seized on as bear signs. Pay
ing little or no heed to depressing
news, the marketeers swept mer-
rily on, and sales crossed the
/ 100000 share mark.
/ Helping the share market was 4
/ buoyant bond section where second
grade railroad issues and a long
list of utilities scared.
Cotton spurted S1.50 bale and
held more than half the rise. Rub
Ter moved ahead Further activity
and strength were noted in silver
metal Sugar made new highs Oh
the movement.
News from the steel industry was
still unencouraging but Steel COM
mon and other issues of the group
forged ahead.
Utilities ruled strong in the face
of a decline in electricity output
Automobile shares were in de-
mand.
Oil shares ignored a rise of
"a 400 barrels daily in crude oil pro-
duction for the week ended August
and advanced to new highs on
the movement on a reduction in
gasoline supplies of 1,12l,0O0 bar
rels for the week
Railroad stocks we're higher de-
spite reductions in car loadings by
many roads.
One adverse item that brought
selling was cut from SIS to So an
nually in the Eastman Kodak divi-
dend. Eastman stock broke around
55 against a previous close of CO.,
and for a time the whole market
reacted from the highs with it.
The rise in wheat brought new
buying into the farm equipment
division where International Har-
vester made a new high for the
year at 317s, up 6ss, while J. L.
Case Spurted to So, up 8h points.
Sears Roebuck and Montgomery
Ward, companies which also profit
by higher grain prices, were higher.
Union Pacific was a strong spo.
in the railroad group. 1t touched
So in the early trading, shot up to
701a, being up 5l2 points at that
level. Half the gain was lost be-
fore the close. Colorado and
Southern was carried up more than
IL points while the general carrier
list rose 2 to points.
American Telephone touched l09
in the early trading, rose to 115&s
up al net, and then eased slightly
from the high.
In the automobile division, heavy
trading came into many of the is
sues. Mack trucks made a new
high for the year at 20, up 2@5
while Chrysler was carried UP
nearly points to above ID; Au-
burn more than points to above
n, and General Motors up to Is.
Packard was turned over heavily.
crossing for the first time in
months.
According to preliminary Calcu-
lation, the Dow-Jones & Co. indus
trial average stood at 6938, up
$3.50, and utilities at 1929, up 1.04.
Sales were 100000 shares
against 100000 shares yesterday.
Aggregate market value Of 10
leading stocks was S6,145 ACT ,496
against S5,955, $685. ,491 yesterday, i'll
advance of s189, ,909,o ,o95.
LOS ANGELES, Aug. 10. U.P)
Most issues advanced during active
trading on the Los Angeles stock
exchange today.
Transamerica was the most ac-
tive, selling 84O0 shares at SIS, up
Il. Southern Pacific advanced.
rs points to 203s on transfers OF
200 shares. Chrysler Motors
climbed ~ points to 1885 on sales
of 500 shares.
Standard Oil sold $500 shares al
281s, up Is. Pacific Western
climbed X to Al on sales of 700
shares. Union Oil sold 500 shares
at 13, up ss. Union Associates also
was up 2s, selling 300 shares at
112s.
Southern California Edison sold
500 shares at 26l7, up H.