The Waterbury Democrat., 1931-04-15
Stock Exchange Much
 Unsettled To-day As
 Weakness Was Shown
Industrial and Railroad Shares Had No Strength and Many New Lows For Year Developed

division were suffered by Vanadiun1 and Allied Chemical, both of which sold at new lows. Heavy selling of vanadium followed omission of the
 company's $3 annual dividend, the stock breaking more than 6 points Industrial shares were affected little by the afternoon selling in the
 railroad group, although United
 States Steel sold fractionally below A few shares resisted the selling ing pressure. Auburn met strong sup port at los of only few points after gaining 3 points at one time | In the early dealings. J. I. Case ral- lied to its previous close on several readings. J. I. Case shrdluetaoin-- occasions and Alaska Juneau, Radio and North American Aviation gave ground reluctantly.
 Pressure against the rails reflect ed the prevailing pessimism over
 stocks of this type induced by their recent unfavorable market action and the renewed strong box liqui- dation of these issues. Fears of
 dividend reductions also were fac- tors.
 EARLY TRADING N | New York, April 15.-(UPl--Stocks displayed a weak tone in the initial trading to-day on renewal of sell ing pressure of the preceding session,
 which sent the market to lower Selling orders accumulated in fair. l ly large volume overnight and initial prices, in some instances, showed
 addition to the disappointed selling, | the market was forced to contend
 with increasingly pesslmistic news
 from the steel industry.
 Steel common and Bethlehem were offered in large blocks at their low
 est levels of the current reaction on advances that steel ingot production | in the past week had declined from 53 to 51 per cent of capacity. The
 was reported to have weakened. Further persistent selling continued in shares like Paramount, Nesting
 house Electric, Transamerica, Fox
 Film A and Armour A, all except
 Paramount reaching new 1882 low ground. Auburn quickly lost half . dozen points after opening 3 points
 lower and General Motors lost most of it's buoyancy.
 1 After the initial outburst of selling l the market as whole developed an | Improved tone. Steel common rallied 1 fractiorslly after selling within 2
 fraction of its 1880 low of 134as, and
 J. I. Case, Westinghouse Electric, | Consolidated Gas staged moderate re-
 bounds. The market continued under
 the influence of scattered selling, l A few issues resisted the selling
 and held within a narrow range. lLorillard advanced F point at the lopening and Standard Brands, Penn .
 sylvania Railroad and Alaska Juneau displayed steady tone.
 l New York, April 15.-UP)-The
 brokerage firm, of George H. Burr and
 company, has acquired memberships lin the New York Stock Exchange and
 the New York Curb Exchange, it was announced yesterday. The company was formed in Boston in 1897.
 l Together with general commission
 and investment business. 1t will con Il tinue to transact commercial paper business, in which 1t has figured prominently for many years.
 New York, April 15.-UP)-.Span- ish currency rallied sharply to-day Following the establishment of re- public in that country. At New York
 pesetas rose $.oo5s to $.1o51. compared with yesterdays low of $.0992. A similar advance occurred at Lond0n