The Waterbury Democrat., 1931-08-05
By ELMER c. WALZER nftn<V Draaa Eina p1ofau Ehffn

(Unitcd Press Financial EnitOr.)
 New York, Aug 5.-CUP)--The stock market settled down in Q narrow rut in the afternoon trad ing to-day with prices holding fra actions to more than 2 points url- der the previous close.
 Earlier in the day selling had been rather severe, but 1t dried upon around noon and prices firm ed up slightly from the lows. Sup port was not sufficient to bring a sharp rally anywhere, however, and trading turned extremely dull.
 At 1:30 p. m. the Dow-Jones in- dustrial average was at 134.39 off 2.11; railroad 72.21 off 0.61 and utility 55.85 off O.72.
 Sales to 1890 D. m. were 500,000 shares, the same as yesterday.
 A few bright spots were noted, including Aviation Corporation which rose i IA to 5-8 in active turnover and Newport company which made a new high for the year. Gold Dust rose 1-8 and Packard held at the previous close of 6 7-8 despite deficit for the second quarter.
 As the time of the General Mo- tors dividend meeting approached, traders sold the stock and 1t eased off nearly a point to 37 1-2. Khrys- Ter held around 24 against a prev ious close of 24 1-8. Auburn was little changed at 140 1-2.
 Steel common came back to around 85 from a low for the day of S4 1-8. American Telephone re- covered more than a point from its low of 1@" where 1t was off 3 3-4 points. Case made a new low at 51 1-4 off 5-8 and then rallied to around the previous close. New York Central touched 71 3-4 where 1t was off 1 3-8. Rails generally were slow to recover.
 Around the end of the fourth hour, losses of point or. more were noted in Anaconda. Ameri- can Smelling. North American, Eastman Kodak.American Can, Westinghouse. Illinois Central. Fox. Electric Auto-Lite, American To. bacco, Electric Power and Light. Baltimore and Ohio and allied chemical.
 EARLY TRADING
 New York. Aug 5.-UP)-Ad- brought selling into the stock mar ket at the opening to-day. Trad ing appeared to be slightly more active than in recent sessions, sev- eral sizeable blocks turning oyer.
 Pressure so,e was exerted rte erst aga.asi. .aie being at 1874 off 2h on a block of 5000 shares. Bears sold this issue on the theory that 30 dividend was in danger, despite the fact earn ings in the first half covered the Railroad shares were again de; pressed with New York Central doyn T & gtseI gH,nt op.nea s5 1sG at s4% on 1M from the previous close following reports from the industry that steel operations had declined to 90 per cent of capacity from S2 per cent.
 Pig iron production ,oD, droppea pdccard do ing to the Iron Age. Prices were
 Other leading industrials sold off with U. s. Steel. American Can dip ped to 90 off 1N from the previous close; Westinghouse Electric ssM sq R,sjo ,S cfnsral i7% off Esetrie and i0 9ohns 9 me General Motors eased off < to s7% despite belief tho directors. meeting after the close to.day' would declare the regular divid-
 Oil shares presented a. fairly steady tone. Standard of Callfor- mia rose X to 56% on declaration of the regular dividend which was not earned. Standard of New York made small gain and other IS. sues of the group held near the previous close, helped by another drop in gasoline stocks. Crude oil production gained on account or output by force in Oklahoma seemed