Stock Prices Move To Higher Ground For The Fourth Consecutive Day
W ADVir/1
BUYING POWER IS
AGAIN IN EVIDENCE
IN DATS TRADING
NEW YORK, August 17.—Good
buying: power was again in evidence
In today’s stock market with the re
sult that prices moved to higher
ground for the fourth consecutive
day. There was a slight lessening
of activity, but the ability of the
market to continue its upward
course in the face of unfavorable
news developments, including the
overnight disclosure of a- new dead
lock in the coal negotiations, was
regarded as a constructive feature.
Resumption of pool operations in
some of the leading industrials after
a long period of inactivity brought
Sboct some sharp gains in that
group. Outside speculators and In
vestors, apparently convinced that
the recent reactionary trend had
; boon definitely checked, also exhibit
ed more interest, although this buy
ing is still of relatively small pro
portions.
The usual W' k-end profit taking
took place during the afternoon but
these offerings were well absorbed
and prices generally closed around
their best levels of the day.
Oorn Products was one of the out
standing features, dosing 4% points
r higher at 127. Gains of 3 to 4 points
*• also were recorded by Federal Mln
* ing and Smelting preferred, Fisher
Body, Nash Motors, DuPont ana
“Woolworth, the last named closing
at 261 after touching a new top for
ail time at 253.
Transactions in Baldwin, Stude
bsker and American pan comprised
more than one-tenth of the total
i volume of business, each closing
i more than a point above yesterday’s
I final quotation* General Motors and
• United States Steel also were quite
' active, each gaining % on the day.
