The Waterbury Democrat., 1931-06-30
BY ELMER 0. WALZER United Press Financial EditOr)


 New York, June 30 (UP) - oil shares featured transactions on the Stock Exchange today. rising fractions to more than 2 points. In- dustrial issues made up early losses ranging to points and held steady at small gains. Utilities also were up, while rails sagged point or so in dull turnover.
 Business was on a small scale. News was scarce and there was no change in the French situation as regards the Hoover moratorium pro- posal.
 Narrowness of the movements in the afternoon is seen In the indus trial and utility averages which were up 24-10O ad 44-100 point re- spectively. The railroad average dipped 1.10 to 85.18 on selling fol- lowing announcement that the freight rate increase hearings were not to start until mid-July.
 Buying in the oil shares was helped by improved statistics in the industry showing a sharp falling off in production, and by expectation of further curtailment in the East Texas area. Sinclair was active around II up l, while Houston rose tc 46 IA up ? 1-4; Mexican Sea- 4 Trust II IA up 3-4. Others were up fractions to a point.
 Tn the industrial list J. I. Case scared 5-8 to 93 and held most of the gain. U. s. Steel moved up more than 2 points from it's low and held around the previous close. Gains of 1 to more than 2 points were made by Westinghouse Elec- tric, Auburn Auto and a few oth- CTS. In the utilities American Wa ter Works and Consolidated Gas furnished the features.
 Grains made sharp iecoveries, with the June position soaring 8 cents bushel to 77> cents a bush el. Other positions firmed up to around the previous close. Cotton futures rallied after an early dip.
 EARLY TRADING.
 New York, June 30.-(UP)-Con- the foreign markets, prices were ir- regularly lower at the opening to-day on the New York Stock Exchange.
 An excited period of buying just before the close brought the Berlin bourse into higher ground. while the and the London market rose after . weak opening.
 However, the profit-taking opera tions in progress in New York yes- terday, continued to-day, hastened somewhat by the uncertainty over- hanging the Franco o-American negoti- ations on the Hoover moratorium proposal. .
 Steel common opened at 101A of on 5000 shares; International Tele- phone 33 off 1M on 1000 shares; Bendix Aviation 19ss off k on 1000 shares. Bethlehem Steel, American Can, Columbia Gas. Standard of New Jersey and Allied Chemical lost a point or more. Other active issues were down fractions to a point.
 Among issues running counter to the trend were Gold Dust, Packard, Auburn Auto, Union Pacific and In- ternational Nickel, all showing frac- tional advances.
 During the early trading steel slipped below the iO1- level. Copper shares maintained a better tone with Kennecott slightly higher. Coppers were helped by word that leading copper producers were discussing further curtaiiment of world output on 10000 tons month.
 Aside from steel and few other high grade issues, prices held wall near the opening levels. Volume was curtailed as compared with last week.
 Some of the special issues such as Worthington Pump were depressed z points or so. J. I. Case, yesterdays favorite strong spot in a weak mar ket, eased fractionally and then firm ed up from the initial level of 87%