Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-13
INDUSTRIAL STOCK
| LIST GOES HIGHER
Trading Volume Somewhat
SmaIIer-Leading Issues
Overcome Early Drop.
, BY CHARLES F. SPEARE.

Special Dispatch to The Star.
NEW YORK, February 13.-Under
the leadership of industrials, the stock
market moved slightly higher after q
lower opening today. The caution in
early dealings was overcome somewhat
by news developments which bettered
quotations but failed to bring about an
increase in dealings.
United States Steel was up a small
fraction after its early decline, which
was probably based on the reduction of
steel scrap prices. This development,
however, was offset by gain in steel
operations.
Strong Spots.
Electrical equipments displayed con-
siderable activity, under the marshall
ship of Westinghouse Electrical, which,
after opening off "a, rose more than 4
points and equalled its previous max
imum price for the year. J. l. Case
was one of the most active specialties.
1t was announced that Case directors
would meet February Is to act on divi-
bends payable in April Worthington
Pump ran up several points on a large
volume of dealings.
The opening today was lower, due to
over the-holiday developments. These
included warm session of the Reich
stag, at which demands for cessation of
debt payments we're defeated; Snowden's
speech before Parliament, in which the
seriousness OF British finances was en-
phasized, and an unfavorable monthly
British foreign trade report.
Wall Street also was somewhat fear
ful about the soldiers bonus legislation
and possibilities of an extra session of
Congress. With the London market
weak, on hints of a possible fresh in
crease in taxation, and further declines
In commodity prices here, such as the
gasoline and heavy melting scrap steel
reductions, traders here displayed nerv-
business in the early market dealings.
Coppers opened strong. Anaconda,
Kennecott and Utah Copper early in
the day reached new high levels. st.
Joseph lead later pointed upward. Fol-
lowing the rise of miscellaneous metals,
tobaccos and specialities assumed a
prominent place on the tape The 500
per cent increase in Lorillard profits for
1880 attracted attention to the stock,
with the result that it opened on a
block Of 5000 shares at 171a, up "a
and at new high for the year.
Specialties Active.
Among the Specialties, Borden ran I'D
13s points by midday, If its ex-dividend
quotation be included National Steel
also reached a new top by climbing
1A Foster Wheeler, with a rise of
nearly 8 points, also attained q new
peak price.
The oil shares were dull with the ex-
ception of Barnsdall, which made a new
high. The announcement of new reduc-
tons in gasoline prices in Midwest CEN
tiers. along with the tariff agitation and
reports from the new field in East Texas,
were hardly calculated to create a de-
mand for this group. Special buying
put Mexican Seaboard to a new peak.
Thinker Roller Bearing was the first
stock in the motor division to shatter
its previous maximum price for 1881. It
soon was joined by Electric Auto Lite.
Hupp Motor was off a small fraction
in response to its 1880 report showing
net loss Of 1927, 765 against net profits of
$3,468, 1886 in 1929.
COppers Again Strong.
Strength replaced weakness before the
session had progressed half hour.
The early advance in copper shares
was followed by a rise in public utili-
ties, which were outstandingly strong
These groups, in turn, were emulated
by industrial leaders. Rails, however,
were dull and somewhat lower, which
likewise was true of the oil shares.
Responding to the 1880 earning re-
port showing a gain of 500 per cent in
net profits, block of 5000 shares of
Lorillard opened at IT'S, up "a and
at a new high for the year Vanadium
was up about 2 points after early deal
ings in steel issues indicated heaviness