Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-06
.BR|T|SHER BUYING
| AMERICAN STOCKS
Wall Street Traders Inter
eSted in Report of Ex-
pert'S Operations.
BY CHARLES w. STORM.

Editor, The News Service Of Wall Street.
Special Dispatch to The Star.
NEW YORK, April 6.-An English
financier whose ability for Judging the
probable trend of the American stock
market is highly esteemed is now de-
clared to be in the market as a sub
stantisl buyer Of American stocks. This
news was considered significant in the
Street, owing to the wealth of the in
for successful speculation in American
stocks.
It was this report, together with the
strong technical position of the pivotal
stocks, that was responsible for the
stronger undertone in the general
market Saturday.
Auburn Auto continued to be the SEN
sation of the market and advanced
more than % points to q new high
price for this year. Auburn's advance
was accelerated by additional reports Of
increasingly large earnings now being
made. Earnings for the first quarter OF
its fiscal year will not make a good
showing, but the results for the second
quarter are declared to be excellent.
Auburn Auto will do the best business
of any of the motor companies this
stronger due to announcement OF in
creased business for March.
Tobacco Shares Higher.
A better inquiry continued to appear
for the tobacco stocks. American To-
bacco B. which Is the daddy Of the to-
bacco shares, advanced more than three
points.
Buying Of the tobaccos is being slim
ulated by expectation that announce
ment of an increase in the price OF
cigarettes will be made within q fort
night.
Steel Operations.
While official reports from Youngs-
town stated that operations were about
3 per cent lower, unofhcial reports were
current in the Street that the sub
salaries of the United States Steel
Corporation were operating at go per
cent, which would be about ga per cent
above what was reported earlier in the
week.
Rumors were current that a certain
group was contemplating concentrating
their attention on A. M. Byers stock
with view to putting the stock higher.
Alcohol Price Advanced.
The conferences which have been go
ing on with view to stabilizlng the
price of alcohol and eliminating the
ruinous price-cutting, which has been
going on for months, apparently has
had some beneficial results, naSmuch
as the price of alcohol was on Saturday
advanced cents a gallon. This natur-
ally had a stimulating influence on the
price Of u. s. Industrial Alcohol stock,
which advanced more than a point.
Railroad Dividend Changes.
The Street continues to await action
anxiously by number Of Southern rail-
roads on their dividends in the imme-
date future. Cuts are expected by at
least four roads. 1t was encouraging,
however, TO hear on Saturday in re-
sponsible quarters that the Pennsyl-
vania Railroad Co. would at its next
meeting declare the regular dividend
due at this time. Because OF the prom
inent position occupied by the PennSyl-
varia in the transportation world, dec
laration Of the regular dividend would
undoubtedly be q source Of much en-
couragement TO investment holders Of
railroad stocks.
Although the bearishness in the Street
is not as pronounced as it was last De-
cember, the Street is pessimiStic with
regard to the future of the stock mar
ket, owing to the absence of good news
and the probability that there will be
little If anything in the trade news to
warrant optimism on the stock market.
Copyright. 1881. by North American News
paper Al1ance)