Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-25
CURB SHARES GAIN
IN ACTIVE MARKET
Utilities Group Furnishes
Leadership as Trading
Volume Picks Up.
BY JOHN A. CRoNE.

Special Dispatch TO The star.
NEW YORK, November 26.-A batch
Of favorable news developments turned
an early dull curb session into an
active and advancing market today.
The market leader, Electric Bond IL
Share, rose only fractionally, but gains
Of a point or more were recorded By
American Gas & Electric, Utilities
Power q Light B, and other active
power and light issues. Cities Service
was up slightly on increased volume.
Public utilities, especially nterna-
tional issues opened strong ~ . result
of firmer markets in London and Paris,
but news Of the weakness OF the
Milan BouIse slackened the advance.
italian utilities were under pressure
because Of the governments tnsiStence
upon lowered rates.
Utilities Power g. Light B, which
operates here and in Great Britain,
gained Q point in response 10 Ine
declaration Of an extra dividend. The
increase IN Middle West Utility snare
from the standpoint of activity.
Trading in the forenoon, totAmg
225, 200 shares, compared with lSS,SOO
shares Monday, was featured by gains
in some Of the leading trusts, natural
gas shares, radios, motors and avlatlon
Issues. AmusementS were reactionary
and oils relatively inactive.
Goldman Sachs Trading Corporation
featured the opening with an Initial
sale of 1000 shares at 1ii2, up y from
its previous close and points above its
recent low. From its opening deal the
stock ran UP to IS In the f1rst two
hours before meeting resistance. Inc
recovery in Goldman Sachs, partly que
to covering by shorts, was In the nam
occasioned by the successful completion
of the four-ply bank merger mere. Inc
trading corporation owns approximately
81 per cent Of the outstanding caplCaA
stock Of the Manufacturers Trust Co.,
one Of the parties to the merger agree"
ment. ,,,
This movement, however, had little
effect on Blue Ridge or Shenandoah.
Selected Industries preferred was on
point, but the participating certircateS
were I'D 9. small fraction.
Motion picture shares, with few ex-
ceptions, were Sympatheticaly weak
with specific issues mentioned In the
Supreme Courts antitrust decision;
Technicolor, an exception to the general
trend, was up nearly q point.
Northern Pipe Line opened on 3h
points on 100 shares. Sullivan Ma
chinery Co. with Q drop Of S points
proved an exception TO the general trend
Of steel and iron and allied industries
securities.
Natural gas shares responded to both
general and specific developments. Nu-
merous mergers are under negotiation,
the industry Is entering its busiest sea-
son, and the gas stocks harbor large
short interest. There have also been
specific corporate developments, such
as United Gas Corporations purchase
of Southern Natural Gas Branch Pipe
Line, the expansion plans Of Allegheny
Gas and increased sales reported by APP
palachian Gas and Memphis Natural
Gas, which proved market factors today.
The rally in radios, based on optimis-
tic reports Of seasonal sales, extended
to allied trades. The group movement
included Crocker-Wheeler Electrical,
Eisler Electrical, Canadian Marconi and
Dubilier Condenser. Some Of the morn
ing gains were reduced or wiped out
in the early afternoon.