Imperial Valley press., 1932-08-22
Daily Report Of
Stock Markets

NEW YORK, Aug. %. W.R =
Stocks and bonds today were car
ried into new high ground on thi
recovery with gains ranging to
points in the stock market.
Cotton swung up to new high!
for the year Wheat rallied after
brief setback and closed frac.
tionally higher.
Stocks were strong, the advance
gathering momentum until the
market was boiling in the last few
minutes of trading.
Steel shares took the lead in the
early trading and again near tbs
close. Railroads experienced q
sharp advance; utilities strength
ened; chemicals were bid up; to-
baccos shot ahead despite lower
demand for most items in that
line; Case jumped more than
points in the farm equipments;
pools continued to push their IA
yorites into higher ground.
Dupont boosted the price of its
rayon yarns and the stick i'm
mediately shot up, at one time reg
istering a gain of nearly points
Coal output rose 100000 tons in
the week ended August 13 as COM
pared with the previous week, re-
flecting increased seasonal demand.
Increases from now on were
looked for in car loadings despite
the fact the Atchison report for the
week ended August 20 showed a
decline.
Of considerable Importance in
bringing out heavy short covering
near the close was the publication
Of the names of the borrowers from
the Reconstruction Finance Cor
poration.
Just before the close, United
States Steel reached rs where it
was up Al points net and equal to
its high of the present movement.
Sharp advances were made in other
steel shares, including Bethlehem,
Republican issues, Youngstown
Sheet and Tube and Ludlum.
Union Pacific spurted more than
8 points and gains of 2 to points
were noted in Canadian Pacific,
Atchison, Delaware and Hudson,
Missouri Pacific preferred, New
York Central and Nickel Plate pre-
ferred. Others of the group rose
fractions to 2 points.
Auburn Auto spurted more than
6 points; Allied Chemical more
than 6; American Tobacco "B" 5;
American Can more than 8, and
Westinghouse Electric 2. New highs
we're made by long list of special
issues, including Adams Express,
Remington Rand, Rossia Insurance
and Postal Telegraph preferred.
American Telephone scared to
1855, up Ga, and held most of the
gain. Utilities generally were
strong, Consolidated Gas rising
more than 2 points. Western Union
stocks and bonds were in demand
all day.
According to preliminary calcu-
lation, the Dow-JoneS & Co. indus
trial average stood at 7090, up 3.72;
railroads 1920, up 3.O6, and utilities
31.70, up 200
Sales totaled 100000 shares,
compared with 100000 last Friday
Aggregate market value of 10
leading stocks totaled S6,252, ,891 1862
against S5,908, 1854, $50, an advance of
S344, ,O37, 7,312.
LOS ANGELES, Aug. %. U.P)-
Quiet trading prevailed as most is
sues advanced fractionally on the
Los Angeles stock exchange today.
Standard Oil was the most ac-
tive, selling 1900 shares at 5%,
unchanged. Security First Ma
tional Bank advanced 3 points to
81 on sales of $50 shares. Pacific
Mutual climbed rs to 3112 on sales
of $50 shares.
Union Oil sold 700 shares at 125k
up Il. Standard Oil advanced y
to PTS on sales of 600 shares.
Southern California Edison {
per cent preferred sold 300 share.
at %, down a Edison common ad.
vanced a to 281s on sales of 5OC
shares. Southern Pacific sold 1OC
shares at 24A, up Is.
L. A. STOCKS
Bid ASKED
Transamerica .................... 5