Courtesy of Swen, Culbertson & Frits, Quotation by Reuters.
Shanghai Nov. 9.
Further strength has been mani ested by stock prices during the past week and all three of the Dow-Fones averages show moderate gains. Over the Weekend the market was somewhat irregular but after the close.G of trading on Monday General Motors not only declared its regular quarterly payment of 50 cents but increased ts extra dividend from 25 cents to 50 cents. As a result, when trading was resumed on Wednesday after the off year elections on Tuesday, General Molors opened 2% points higher and after some hesitation the majority of stocks also moved upward in response} to the election returns which were generally interpreted as a rebuke to the New Deal. Industria reached 8 new high since August 1931 while rails and. utilities established new peel peaks since September and August this year respectively. Public participation increased and the day's volume of more than three million shares Put was the largest since July 1994. The] Radi advance continued during the early trading on Thursday but heavy profits taking late in the session caused Socony-mott stocks to close below their highs for the day though both the industrial and utility aver gains, After the New York market closed, a lower court decision declar-spurt in utility issue Coast exchanges.
Commodities held steady and quota-lon moved within a range. The busi- Uy ness news was generally constructive and the New York Times composite] Index attained its best level for the year. The cold wave is stimulating jogging retail business and holiday sales are expected to be the best since 1980, "Industrial activity 1s also gaining momentum. The election results were somewhat inconclusive though odds on President Roosevelt's re-election dropped from last wee! 'AAgure of 10 to 1 to as low as 2 to 1.
The market in Figures:
Thursday Oct.3t Nov.7 Change)
130.74 14340 up 3.68
348 up 89)
2830 up 9644 up 20] get up a olms-Manvilte, 90% up 8 ry
Commodity Prices: Thursday Oct. Nov. 7 Ehleago Wheat s... BO" CONE ne 20 248
Business:
Previous Latest Times index 3 912 Stee! operations (9% of capacity) 19 209! Garloadings (carloads) 733,000 100,00 Blactrle power prow duction (k.w.hrs) 1,808,000 #4,207,000 Automobite output (cars) 201s 16,100) Average dally elf Production \(bbs.) 2,708,000 2,700,009 To00 omitted Stock Outlook: Investment demand for securities from both at home and abroad appears to be increasing and much of the current influx of gold is Vased on the belief held by foreigners that the United States {sin the beginnings of a major_ business recovery and that President Roosevelt will do no more money tinkering but will seek to cut down emergency Sovernmental expenditures. The market will be exposed to increased profit-taking and wider reactions as prices move upward but as one of the large investment advisory services recently declared "Clients should not, however, lose the longer term perspective." Regardless of these intermediate ups and downs. cyclical recovery is under way and has a long distance stil Saturday's Closing Quotations Nov. 8 itimare & Onto
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