The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1930-03-22
STOCK BUYING
is HEAVY: OIL
= LEADER IN RISE
! Steel. Climbs to High for
1890; InduStriaIS Are =
on Upgrade.
Average Stock Prices

Average Of thirty industrials Tor Thurs
nay was 30 Il. up l.53. Average Of
twenty rails vas 1879. up 81. Aver
age ~ tweDty utilities was l0l.13, up Y
Average OF forty bonds was 1916. up 80
NEW YORK. March 2l.-On
shares again turned upward on the
stock exchange today, helping bring
the list out Of a period Of rea-tion.
5 United States Steel rose to new nigh
ground for the year, above 100 near
che close, and other industICls
picked up. Coppers improved on
short covering.
Sales broke all records for the
year, totaling 4615,500, exclusive OF
rights or odd lot transactions. This
compares with the previous record
of 4,470030 shares, made March II.
During the greater part OF the
session the majority of stocks held
gains. There was heavy selling,
however, in small list Of special
issues. National Cash Register A
was driven down more than z points
10 a new 1890 low and vide losses
were sustained in Simmons, Gillette,
Montgomery Ward and Sears-ROe-
buck. These issues rallied late in
the day.
New high records were macs by
many issues and a moderate mum
Der made new lows. Trading was
so active that tickers for time
ran forty minutes behind. They
caught up when selling was it its
height and then fell behind again
near the close on heavy buying or
ders.
Standard Features Oils
Standard Oil of New Jersey fea-
tured the Oil group, mounting to
the best levels of the year around
60. compared with the previous close
OF COS.
Gains ranging from fractions to 6
points we're made by Houston Oil,
General Asphalt, Phillips, Mexican
Seaboard, Atlantic Refining Indian
Refining. Mid Continent Petroleum
and Texas Corporation.
A few Of the utilities mounted to
new peaks for the year. led by
American Telephone and Telegraph
United Aircraft met new buying and
made a new 1880 high at 74A, up
g..
United Carbon hit a new top at
70. up more than 9 points. and held
most of the gain. Vanadim was a
strong spot in the steel group, SELL
ing above 1O1 for the first time this
year.
News of the day centered about
the money market. Call money rose
to AZ per cent as banks withdrew
100000, 900. Brokers loans adj
vanced s121 100000 and the federal
reserve maintained its Sc per cent
retIi ScOunt rate.
On the other hand, business out
look for the future took on a more
optimistic tinge. Employment was
reported as having turned upward
from its low point and predictions
we're made that steel production
would show an advance next week;
that building was about to pick up
in active fashion, and that automO-
bile production also would be speed
cd up.
The lows for the year were IL
the minority, but where they &C.
CURED sharp losses were scored.
American Car mad Foundry dipped
to 66. off 6, and then recovered
partially. National Cash Register
A descended "a points to 6494 on
a short sale tip before meeting OPP
position. Simmons broke to 46 8, off
D. and Gillette Safety Razor got
down to 81. where it was off 39s.
New Highs Registered
Among the new highs for the
year. in addition to United States
Steel, were American Telephone at
49,. up a.: Atlas Powder, 104%,
ND 50; Bohn Aluminium. 587s. up
81: Coca Cola. 1T. up 4is; Elec-
trio Auto Lite. 1922, up 81; Elec-
trio Power & Light. 81&. up 81;
General Motors, 49,. up IS; Good
rich. SOS, up 31s: Goodyear, 952s.
I'D Is; International Hydro Electric,
Asa, up Is; Maytag, 21i., up is;
Moon Motor, IS, up IS; National
Biscuit New. 9O7s, up =; North
American. 123, up IS; Public
Service. 1913, up 22s: Spang Chal-
FAINT. 80. up u; Underwood Elliott
Fisher, 1873, up l.; Union Carbide,
1905. up IS: United Biscuit, 127
zip 9; United Carbon. 72, up 97s,