Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-06-05
RECOVERY IN CURB
PRICES CONTINUES
Utilities and Miscellaneous
IndustriaIs Figure in
Advance.
BY HARRY II. BECKER.

Special Dispatch to The Star,
NEW YORK, June 5.-Recovery pro-
ceeded on the curb exchange but with
frequent Interruptions due TO profit
taking by interests who bought for sup
port purposes during the late break.
The utilities were again the outStand-
ing features and carried their advance
further under new leadership as some
of the former favorites were forced TO
absorb heavy offerings. Although good
resistance was shown by the American
Super Power shares which moved up so
excitedly on Tuesday, they displayed
less buoyancy after reaching new highs
at the opening on the news that stock
holders had approved the plan to eX-
change the old stocks for the new vot-
ing common. Ratification was also
given the plan to merge with Utility
Shares Corporation.
Strength in Industrials.
Among the stocks conspicuous on the
side of advance in the electric power
and light group were United Gas I'M
provement, Penn Ohio Edison, Allied
Power & Light. Electric Investors and
Southeastern Power. all at the best
levels so far and showing substantial
recoyeries from the effects OF recent
realizing. Consolidated Gas of Balti-
more was also higher in the race OF
denial of report that 1t contemplated
a merger with Pennsylvania water az
Power. Central States Electric was not
noticeably affected by the increase IN
the quarterly stock dividend OF Amerl-
can Cities Power & Light b, which
company it controls.
Considerable strength was witnessed
in variety of miscellaneous indus
further Qnnfp-
citation of the excellent first quarter
statement, rose sharply, and interest
revived in Marconi international
Marine in optimistic reports from the
safety-at-sea conference in London. II
opened 2 points higher on transaction
of IL 800 shares and made further i'm
provement later. Canadian Marconl
was not much affected, however. There
was fairly active demand for Thomp-
son Products, which is expanding its
facilities to handle increasing business,
while insurance shares and utilities
equities we're helped by good earnings
statements.
The movement in the oil division lost
much of its momentum, due to the in
crease reported in production Tor the
week ended June !. Humble was weak,
on conflicting news regarding the deal
with Standard of New York. Negotia-
tons IN that connectlon were unOnclaI-
~ said to have been broken of early
in the week, but Washington advices
today stated the WWter was still pend
ing before the Department Of Justice.
Standard of Kentucky, which has been
a disappointment for some time. prob
ably due to the lack of speculative In
terest, displayed moderate firmness.
...s-'
Specialties Advance.
Standard of Indiana held most OF
the recovery from the record low due
to covering There has been no change
in the situation with respect to n1er-
ger with Pan American Petroleum.
Aviation, metal and motor issues
fiuctuated irregular in quiet trading.
Some speculative buying carried Moran
da several points higher. Higher-priced
speciaIties, like Aluminium Corporation,
Deere & Co., Great Atlantic q Pacific
Tea and St. Regis Paper, advanced.