New York, June 24.
Firm conditions prevailed on. Wall Street today, with the majority of stock issues finishing with gains ranging from fractions to about 2 points, while a few stocks recorded losses of fractions. A more hopeful business outlook continued to be the prime motive for the prevailing bullishness, while, at the same time, wage conversations taking place in various industries are being very clos followed, as such a move is pote: tially an important lever in ing a business recovery. The prospective speech by President Roosevelt tonight, however, proved to be a neutral influence. Well-informed circles were unanimously of the opinion that the biggest buying wave of American stocks from abroad seen for sometime was the dominating factor in the sweeping advance since Monday, pointing out that the demand came largely from Britain, while big orders were also reported from Paris, Amsterdam and Brussels, with buying scattered over the entire list and not concentrated in a Single group. While foreign buying was regarded largely as speculative based on the lower levels up to Monday, there is additional back ground, viz: the continued disturbed conditions abroad; periodic war scares; and, evidence that the industrial boom abroad is slowing down, Expectations of a business upturn in the United States, especially in view of the speech with. which the Administration is launching its "Lending and Spending" programme, which is also an inspiring factor. Trading was very active today, with 2,290,000 shares changing hands.
Text read from the printed page and cleaned; old type leaves the occasional error.