Stock prices registered further net gains during the period under review aad all three of the Dow-Jones averages early in the week reached new highs since the April reaction though profit-taking Wednesday and Thursday caused some subsequent irregularity. Utilities were the best performers and on Tuesday touched their peak levels since Distllers Corp, Scazrams February. Steels led the industrials bhut weakened when it was rumoured that wages would be increased 10 per cent. to forestall attempts to unionize their workers. Spending of the bonus money helped mercantiles and autos. Gold Dust [Several individual issues rose sharply, [Case jumping over 9 points on Tuesday and Schenley 3% points on Wednesday when dividends were Initiated on its common stock.
Interest in commodities is broaden Ing. Cotton reached its peak for the inno' year on good domestic and foreign trade buying. Wheat remained 3 weather market and firmed on reports Jof drought damage in the northwest fern part of the United States though good rains were reported in the three Net: Power [Canadian wheat provinces. Rubber moved narrowly and displayed a [somewhat hesitant tone.
The business news was encouraging. Steel operations Improved though the weakness in scrap prices was inter- Pen preted in some quarters as indicating put a possible decline in activity within the next sixty days. Electricity output was at a new high for the year and the carloadings report for the week.
also expected to be the largest for 1936, The outlook for railroad traffic Secon; Jover the summer is the best since 1931, Congress reconvened after its recess for the Republican Convention. and hopes to clear up the Tax Bill, as to permit adjournment before
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