Imperial Valley press., 1932-09-21
Daily Report OF
Stock Markets

NEW YORK, Sept. 81. U.P)-Al
markets roared upward today.
Stocks scared l to more than 10
points; bonds. l to points; curb
/ stocks, l to II points; bank stocks.
to Is; wheat, 2la to 99s cents
bushel; cotton, more than 81 a
bale. Coffee, wool. silk, rubber and
silver also were higher.
Trading in the share market be-
/ gan at fast clip with blocks of
] 100 to 5000 shares appearing. Tick
ers fell behind then and at inter-
walls during the day. Volume eX-
panded from the recent million
share pace to around 100000
shares, or the largest since Septem-
Der Is when 100000 shares, or
the largest since September 13
when 100000 shares were trans
acted
Before the New York opening, the
London and Paris markets were
strong and active Their rise was
predicated to some extent on the
recovery here yesterday and the
continuation of the rise on the
coast after the New York markets
closed.
Steel shares were the features to-
day. Pressure lifted from Steel
Preferred in the early trading and
it went up more than 10 points.
Better reports from the steel in
dustry and revision of the recent
estimates that the steel corporation
would eliminate the preferred divi-
dend were factors in the rise. Steel
Common was up more than 6
points.
A long list of industrial issues
rose or 6 points and few made
wider gains. Short covering pro-
viding much of the impetus.
Case shot up more than 9 points
with the spirited recovery in wheat.
Auburn scared more than 8 points
to head an active automobile
group.
Chrysler Fayorits
Chrysler was the active favorite
in the automobile division. 1t rose
more than 2 points. General Elec-
tric rose more than 2 in the elec-
trical equipment division where
Westinghouse Electric gained 4
points. Douglas Aircraft made
new high for the year at 1872 up
21s.
Tobacco shares experienced one
of their best sessions for that group
this year. American Tobacco is
sues led the rise with gains eX-
ceeding 5 points on expectation OF
improved earnings.
Railroad shares furnished a good
feature throughout the day. Lack
wanna and Union Pacific gained
more than 6 points each; Atchison
and Norfolk & Western more than
5 each; New York Central 4 and
Southern Pacific and Pennsylvania !
more than 2 each.
American Telephone crossed lis |
for a gain above points.
Utilities were strong.
According to preliminary calcu-
lation, the Dow, Jones & Co. In
dustrial average stood at 75.l6, up
767 points, railroad 36.l3, up 3.65
and utility 1901, up $50.
Sales were 100000 shares COM
pared with 100000 shares yester-
Gay.
Aggregate market value of 10
leading stocks was 6,444, ,766, ,439,
against $780, ,747,3 $3.50 yesterday, an
advance of 88,019, ,109.
LOS ANGELES, Sept. 2l.-(U.D
issues advanced fractions to
more than three points during
fairly active trading on the Los An
geles stock exchange today. The
rise was in response to markets
throughout the nation.
Transamerica continued to be
the leading stock, selling $500
shares at Ga, up IS. Security First
National Bank advanced about l
point to Sc on sales of $50 shares.
Standard Oil sold 1900 shares at
%, up IA; Union Oil sold HOO
shares at 13, up q; Union Asso-
ciates advanced l point to II on
sales of 300 shares.
Southern California Edison sold
300 shares to advance rs points
to 291s. Southern Pacific advanced
3i2 points to 31la on sales of 200
shares. Douglas Aircraft hit new
high for the year when 300 shares
sold at 1874, up ~ points.