Imperial Valley press., 1932-07-28
Daily Report Of
Stock Markets

NEW YORK, July %. U.R =
Many millions of dollars In value
were added to stocks today in one
of the most impressive buying DEM
onstrations of the year.
Activity swelled close to the
three million share mark, as the
stock market marched into the
highest ground 1t has attained in
nearly three months. Gains were
general throughout the list, ranging
from l to points among the ac-
tive stocks.
The advance was carried along
by the rising tide of public inter-
est in the market rather than by
any important outside news de-
velopment. Market observers be-
lieved the public at last had been
coaxed into the proceedings with
widely advertised stock bargains y
Trading was at the most rapid
pace of the year, exceeding slightly
the 100000 share turnover on
February 10. Some confusion was
caused in brokerage houses by the
sudden, swelling of turnover as
many of them had been geared for
the million share sessions of early
this summer.
The main force of today's buying
movement was centered on the first
four hours of trading, the final
hour being given over to digestion
of the days gains. Activity dwin-
died toward the close but prices
held firmly around their best levels
of the day.
Among the better gains at the
peak of the buying movement were
American Telephone at 88, up 51a
Union Pacific at 464s, up AS; Al
lied Chemical at SOS, up 41s;
Atchison at 33as, up AS; American
Can at 39B, up 29s; Dupont al
29A, up 35s, and United States
Steel at 281s, up rs. These levels
were shaded somewhat near the
close.
Other markets moved upward
with stocks, bonds, especially the
United States government issues
reaching new highs for the year
Wheat scored it's third successive
rise, while cotton moved ahead
moderately.
About the only important news
item overhanging the market was
The directors meeting of the Beth
lehem Steel corporation scheduled
for after the close of the market
at which the preferred dividend
was to. come up for action. Thc
stock held steady around 26%.
Sales totaled 2,700,000 shares
compared with 100000 share;
yesterday.
LOS ANGELES, July %. W.P) =
Fairly active trading prevailed
during a rising market on the Lo.
Angeles stock exchange today.
Standard Oil was the most &C.
tivt, selling 24OO shares at ISIS
up B. Union Oil sold HOO shares
at IL, down h; Union Associates
advanced X to 9% on sales of 7Ot
shares; Rio Grande was un.
changed at 3 on sales of TOO shares
Richfield common declined 7s tt
n on sales of 300 shares; RichfielC
preferred was unchanged at u OF
sales of 500 shares.
Transamerica advanced u to AZ
during sales of 2400 shares; Chrys.
Ter Motors climbed u to 8zs or
sales of 300 shares; Southern Pa
cific advanced IL to IL on a sale
of 100 shares.
Southern California Edison sole
300 shares at 229s, up rs; Edison
z per cent preferred sold 600 shares
at 24k, up n.
NEW YORK, July %. (U.P) -
Directors of the Bethlehem Steel
corporation today omitted dividends
on the, preferred stock, previously
paid at the rate of 81 annually.
L. A. STOCKS
Bid Asked
Security First National. 40 43
Transamerica .................... 4 Al
l.. A. HAY
LOS ANGELES, July %. U.P) -
Hay prices unchanged. Today's re-
ceipts, Is carloads.
M Adnn Addroccoc