New Britain herald., 1930-05-13
Efforts Made to Lift Stock List Out of Rut By Use of Oil Shares;
 Dull Opening Followed By Rally
Curtailment of Petroleum Production Starts Brisk Buying in This Field - Business News in Gener- al Moderately Favorable.

New York, May 13 tP-Eforts were made to lift the stock market out of its narrow trading rut today with the oil shares.
 Trading during the first hour was the dullest in several weeks, with only q few of the utility. food and speciality issues showing notable vi tallty. but after midday. a strong buying movement in the petroleum issues began to drag the list up- ward. and were joined by utilities and steels.
 Oils Somewhat Retarded
 The oils have been somewhat re- tarded during the recovery from the latest break, owing 10 renewed dlf- faculties in bringing the smaller producers into line with the conser- vation movement in California, but l. Uas announced today that Santa F. spsinss operators, with the eX- curtail output to 57 per cent Of po- tential capacity. Furthermore a survey Of drilling operations in Cali fornia discloses that major operl- tors have curtailed activity by 4 to 5o per cent.
 There has also been some talk Of further gasoline price increases in the cast. although Wall Street un- derstands leading refiners may 'ls- lay such action for a time, as it ha hl h1 Fnl10usIA hyy zi yanCes in mid continent crude quo t9tions. For the year to date, con- sumption of petroleum products has been running s to 10 per cent ahead Of last year, although earlier in the year it was stated in oil circles that q per cent gain would be satl5- factory.
 Copper Price Raised
 The days business reports were in general moderately favorable, the export copper price was put up to 1880 cents a pound, in response to the advance in the domestic price 10 Is cents yesterday. Wall street however, was inclined 10 regard the copper stocks somewhat cautiously as estimates indicate that production costs are around Il cents q pound reports from the automotiye trade | indicated that sales had picked up appreclably in several lines since the ! first few new models are expected 10 appear around July l, largely ir i the eight cylinder class.
 George Reynolds, chairman Of the 1 Continental Illinois Trust Co, wal 1 quoted as stating on his return tc ! Chicago from a visit to the Pacific coast that business there was slow and for the country in general. h. expected second quarter result would compare unfavorably with las year, but that agricultural condi tIons were satisfactory for this tnn'
 of year and that growing crop
 would soon become a faction in thu outlook. W. F. Warren. president O
 Hall Printing, pointed to an in crease in volume Of large nationa magazines as an indication tha ! conservative optimism IS increaslg. Oils Make Gains
 In the oil5, Standard Of \. J.
 Standard Of Kansas, General As phalt Houston and the Pan Ameri can issues. mounted about to : 1 points. the last named reaching no7 . 1930 peaks. |. S. Steel and A. M . Byers sold up more than points and Michigan Steel curved up sey oral points 10 new high ground.
 Shares gaining about 10 point . included Du Pont, Underwood Fl liott Eastman Kodak, Air Rcduc ton. Allied Chemical, Columbia Gas Coca Cola, Macy, Sears Roebuck i American and Foreign Power, ant , Electric Power and Light.
 Vulcan Dotinning, a lightly tradet issue, shot up more than 70 points Shares gaining 10 or more included ! Case and International Salt. Earn . ings Of the latter are said 10 be run . ming about double the rate Of thi
 time last year, and tho stock ha, . doubled m price since tho first of th' . year.
 H THE MARKET AT 2:15-3:OO P. M