New York, Jan. 14
After ruling quietly lower, stock prices in Wall Street rallied on President Roosevelt's address at the Press Conference to-day, in which he stated that he was seeking the elimination of all holding companies, and especially mentioned bank holding companies. The Administration, he added, was trying to workout a satisfactory arrangement with the local utility companies in areas where there were Federal Power developments, and, moreover, declared that no more funds would be available for Federal loans or grants on new municipal power plant construction. The Chief Executive indicated that in his opinion the general trend of business would be better. The turn-Over to-day amounted to 850,000 shares. UNA
Text read from the printed page and cleaned; old type leaves the occasional error.