Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-02-03
STOCK PRICE index
AT HIGHER LEVEL
Recovery of Last Week Re.
suits in New Tops Since
Break.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW HAVEN, Conn, February s.
The amazing recovery in U. S. Steel, as
revealed in earnings for 1929 of SCI .18 a
common share, against $3.50 in 1928.
and the rapid increase in operations of
the larger mills with sharp gains in auto
steels produced a genuine groundswell
IN the stock market last week For the
nrst time since the panic the specula-
i've and speculative groups forged
ahead OF the first-grade stocks, which,
IN turn, rose more rapidly than during
the preceding week. The whole market
turned soundly upward toward the pri-
mary peak, after the break. with added
turnover of stocks and an increase in
brokers loans supported, not by cor
porations, but by the banks. Heavy
proht-taking failed to lower the market
averages, which increased in the all-in-
dustrials group by 2.42 per cent.
Extent of Recovery.
Steels rose 3.3 points above the peak
since the November break, rails, OIL per
cent above the poSt-November peak,
while preferred stocks held the same
level at that peak. Coppers closed
last week 1.3 points below November 10
low, but So points above the secondary
low OF January II. The largest increase
IN the major groups was shown in auto
accessories. which increased by per
cent over the preceding week; motors
BY per cent, utilities by 1.9 per cent.
foods by II per cent and coppers, oils,
stores, rails and preferred stocks by less
than l per cent.
Among the minor groups remarkable
increases were recorded Electrical
equipment rose last week by 10 per cent,
with Westinghouse Electric II points up
and General Electric New 4 points up.
Office equipment rose by per cent, with
Underwood Elliott-FiSher points I'D.
Chemicals gained 434 per cent. with
Columbian Carbon making II points,
and Allied Chemical and Dye points.
Agricultural equipment gained Az per
cent, with Case Thrashing Machine
20 points. Radio, theaters and tobaccos
made little more than per cent, the
rest OF the minor groups rising less than
/ per cent
Foreign Prices Sag.
Stock prices on foreign exchanges
sagged last week Berlin prices fell .
per cent. Paris and London fell less
than l per cent.
The sounder tone of the American
stock market was reflected last week in
tne higher value OF tradings for indus
trlaI stocks. These rose on the New
York Stock Exchange by S136, zoe, 900,
as against SIS, 100000 in the preceding
week, increasing by 10 per cent. The
value OF trad1ngs on all stocks rose IS
per cent to S177,300. 600 The average
oRily tradings of industrial stocks last
week we're the highest since the week
ending December H.
OF the 20 groups, 10 rose in values
traded last week Office equipment ag-
ricultural equipment, steels, accessories.
other miscellaneous, electrical, chemical
and oils rose, showing an increase by
more than 100 per cent over the pre-
ceding week. Motors rose by 81 per
cent; machinery, "a per cent: rails,
50 per cent; stores, So per cent; utili-
ties, 40 per cent; household products,
IS per cent; foods, IS per cent, and
coppers, 80 per cent The remaining
groups showed slight increases, while
radios. the only group to fall in trad.
ings. lost per cent.
The compact survey of New York
Stock Exchange movements of common
Industrial shares is given below in price
indexes 1926=100). There are two in
dexes Of market price movement. The