Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-22
CURB Up SLIGHTLY
IN TRADING RALLY
Results of Last-Hour Activity
Regarded as Relatively
Unimportant.

NEW YORK, August 22--Rallyini
moderately In the last hour, today
curb exchange left on slightly higher
but the net results were relatively UNI
important as most trading emanatet
from professionals.
The leading utility, Electric Bond a
share, was up about q point near thu
were scored by American Superpower
Eastern States Power B, and Middle
West Utilities.
Aided only by the Pennsylvania
crude oil price advance, which betterec
but few issues. oils slipped. Cities
Service was slightly higher most Of the
day, but Gulf Oil, Cosden, Pacific
Western Oil, and Vacuum were inclined
70 soften.
Specific news detailing expansion
plans or happenings had little effect
the group turned active. Amusements
advanced near the end, Trans-Lux ex.
cepted, which churned on organized
buying.
Copper shares waited until the final
hour to appear in volume. Roam Ante
lope broke W as United Verde and
Hudson Bay came out unchanged and
Noranda fractionally advanced. Radios
Jagged and rails weakened.
pear on the tape until late afternoon
zonite fell to new low on a few sales
Walgreen warrants hit q new low as the
common dipped Metropolitan Chain
Stores equaled its low.
United Light g. Power A and 3 shares
turned active when traders learned
that President william Chamberlain
before sailing on the Olympic tonight
would make an important statement re-
-
Merger Of New York, Rio q BuenoS
Aires Lines, Inc, with Pan-American
Anyways, o subsidiary Of Aviation Cor
poration of America, creating the
worlds biggest air transport line,
stimulated trading In aviation securi-
ties.
New York. Rio q Buenos Aires.
which viii receive one share Of Avia-
ton Corporation for each I'VE and one
ally, while Aviation Corporation was up
. points.
Activity of air shares was further in
creased by proximity Of the opening Of
the Chicago Air show and Govern
ment mail contracts, which are to be
awarded next Monday. Explaining to-
days air issue demand, traders asserted
10 came from the public and not from
ton last year took place simultaneously
with the beginning Of slump from
which the industry 10 Just recovering.
Dayton Airplane d Engine. which Is
undergoing REORGANIZATION, was active
and higher after o lower opening.
Fokker Aircraft opened down o point.
Douglas Aircraft was Up point, reflect
ing gains Ia orders. and Detroit Air
craft, for the same reason, was traction
ally higher.
Alabama Great Southern preferred
tell TO o new low level Of l0e, drop Of
= points. The common, however, was
up a point. Pennroad Corporation was
unchanged.
Standard Motors, one Of the inactive
automobile shares, frequently appeared
on the tape In the second hour Durant
Motors opened I'D fractionally.
Bunker Hill Sullivan, mirroring the
hatterrnent In silver prices, jumped 8
points. Angus Co. preferred A was I'D
the same amount and Moody's partic-
ipating preferred was MP ~. Brighter
outlook for construction was reflected
in Starrett Corporation convertible pre-
ferred. which rose o point.
Some of the lower-priced trusts
moved trreguiarly Federal Capital was
up lN and North American Utility was
up 1M Is Reliance International A lost
about a third Of its gain Of the preced-
ing session.
Mead-Johpson gave shorts another
uncomfortable day as 1t rose to new
peak price. Missouri-Kansas Pipe Line
recorded an initial gain which was not
rights sell for cash today and Saturday.
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