STOCKS CLIMB IN WALL STREET

Taranaki Central Press, Volume IV, Issue 375, 5 March 1937, Page 6

STOCKS CLIMB IN WALL STREET

“BULLISH” MARKET FOREIGN BUYING

Labour Conditions Increase Optimism.

Press Association—Copyright, New York, March 4. j | In one of the most ‘"bullish.” de- j I monstrations of recent history stocks i 1 climbed over six points on Wall 1 street to-day as the result of heavy i public buying through groving opt.j- ; mism regarding the labour situation i in tteel and other industries. Brokers • also repented a large increase in for- • eign buying. United States Steel. Allied Chemi- • cal and Chrysler were among the [ stocks which as a whole responded t.o ! 1 the improvement. It is announced that the General | Electric Company has. agreed to hold ; a collective bargaining conference i with the United Electrical and Radio j : Workers’ Union on March 15 to es- ! tablish a formula for a national agree- : rnent on wage policy, union recognj- i tion and working conditions in the i 1 company’s 15 plants.-. Approximately j 60,000 employees are affected. Forty Labour organisers met at j Pittsburgh last night to plan a con- ; 1 certed drive to att’ain a national con- : 1 tract,, with all steel workers for a ; single huge industrial union, which ' 1 ■w’ill rival in size the United Mine ,■ ; Workers’ Union. Those employed as i steel workers now total 550,000. ! ;