Closing Quotations New York, June 29.
Stock prices on Wall Street today finished with mostly gains ranging from 1 to 6 points, After a quiet opening, however, the market resumed last week's explosive buoyancy, rising briskly and practically uninterrupted, with demand again nation wide encouraged by the market's staying power during the last two days which is also maintained to be still upward, while heavy buying of industrial issues was of a speculative character on hopes of an early industrial expansion. On the other hand, selective accumulation by investment trusts was in evidence. It 053] is believed that many speculators became tired awaiting a. reaction. Realizing was exceptionally, well absorbed, with many issues finishing virtually at the day best levels. Many new highs for the year were recorded, while the dustrial average reached the highest point since last November. The substantial buying wave, both domestic and foreign. caused tickers to lag occasionally for more than three minutes, The main factors for the advance were the fur-, ther improvement in business and industry, notably in the steels, the building industry, electric power production and retail sales. Otherwise, there was little concrete news, except indications that speculators and investers are confident of early good gains in business and industry, in view of the fact that the stock market has not suffered any substantial reaction, despite recent profit-taking. Some Wall Street tors are watching the Government's attitude towards the stock market, ing the fact in 1935/36 the Administration interrupted the upward movement of the market. Such action, however, is held to be very unlikely, because of the approaching election. The turnover today amoünted to 2,680,000 shares.—Reuter, Dow-Jones Averages 30 Indust. 20 Rails 15 Utilities 40 Bonds 11 Commod.
Adams Express Alleghany Steel Ca. Allis Chalmers Amer.
Can Amer.
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