The Waterbury Democrat., 1931-09-16
z BY EMIL c. WALZER United Press Financial Editor

GIE6S AAAtAAANAtAk AStA&AONY
 New York, Sept 16.-(UP)-- Stocks moved irregularly in the afternoon trading to-day as traders tested out the vulnerability of the general list on the theory rally was due.
 The issues to succumb to pres sure were isolated and selling in them was mostly for special req sons such as adverse dividend news. The main body of stocks made a good showing. Railroad shares were bolstering influence most of the group making moder- ate gains and resisting pressure.
 As the market turned into the fifth hour shorts were covering again. They had a bad fright in the early trading when Westing- house Electric declared quarter ly dividend of 62 1-2 cents when an omission had been anticipated in the ranks of the Bears.
 Sales were much different from yesterday. At 1880 they totaled 1,3OO,O0O shares, against 100000 in the corresponding period of the previous session. At that time the averages were practically un- changed from yesterdays close.
 Considerable interest was at- tracted by a small group of stocks which lost to more than points. Kansas City Southern eliminated the dividend and the stock prompt ly dropped to a new low at IA off 51k. Dividend omission was re- sponsible for a drop to new low at 4 off 3-y in Madison Square Garden.
 Westinghouse common and pre- ferred issues made new lows the common at A Is and the prefer red at 78 1-S. After the dividend declarations, these issues rallied smartly, the common holding ? points of a 3 point advance. The preferred had been at S6. It jump ed more than points from it's low and around p. m. was at 80 3-S off 2 5-8.
 Louisville and Nashville, which yesterday lost points to 55 drop ped 4 points to-day to 51. West ern Union dropped to 99 1-8 off 8 3-4; Case preferred hit 53 off Is 3-4 and then came back to 60; Pittsbury and West Virginia drop ped to a new low at IS off 12; Minneapolis Honeywell 29 off 6; Wiliys- overland preferred 26 of 6 1-2, the latter on dividend on1is- sion; and Liquid Carbonic IS 1-2 off 2 1-2.
 At the end of the fourth hour steel common was at so 1-2 off 5-S; New York Central 61 up l; Delaware and Hudson 105 up 4 1-2; Reading AS 3-4 up 1 1-S; Case 46 off 1 IA and General Electric 33 7-S off 1-2.
 EARLY TRADING
 New York. Sept 16.-(UP)-Sen- ing was resumed at the opening. on the stock exchange to-day. Prices reacted fractions to more than point. A few stocks worked against the trend, but their gains were con fined to fractions.
 Steel common opened at S0M on + but later met support. Selling went ahead in the electrical equip- ments where small losses were re- corded to General Electric and Westinghouse Electric. Directors of Westinghouse were to meet at II o'clock for dividend action and the street looked for omission or the VI annual payment.
 
 last night at new lows for the year or longer, only small declines were nece ssafy to bring them to new minimum levels to-day.
 Among the issues making new lows or equaling their lows were Union Pacific at 124 O: lh; Ameri. can and Foreign Power preferred 65N off k; American and Foreign Power 6 per cent preferred bS on 1; Erie 13k off A; Alleghany Cor. poration 3A unchanged and Chi cago Northwestern IT unchanged.
 Westinghouse Electric met con siderable pressure in the early trad ing, breaking to a new 10-year low at i4N where 1t was off full point. The issue opened at 45h off x on 5000 shares.
 Atchison broke 3k pNnts to equa! its low at 115M. Railroad shares generally were under pressure, pc. ing influenced adversely by reduced car loadings and continued poor earnings.
 Steel shares failed to respond to omewhat more optimistic reviews of the trade journals published to. day. The Iron Age found the In. dustry unchanged at 30 per cent or capacity. but predicted an upturn next week.
 Copper shares held steady in the face of declines to record lows 'n the price of the metal here and abroad. Utilities slipped lower with Consolidated Gas down nearly uoint al Q1N Aermcian Telephone