The Waterbury Democrat., 1931-01-21
All Were Hit With the Ex= ceptiOn of Railroads Which Made Good ShOw= ing-A Few Industrial Shares Did Very We'll
BY ELMER z. WALZER United Press Financial Editor

New York. Jan 21.-UP). Trad ing on the stock market exchange lapsed into another dull and tedious to force a resumption of the for
 ward movement which developed yesterday. Y.
 After a brief display of strength.
 pressure on the list increased and early fractional gains were substi- tuted with losses of similar amount in all but the railroad division. Lead CTS in the latter group gave a good account of themselves. making gains of a fraction to several points
 A few industrial shares also were
 able to move against the trend.
 Auburn held at 1-2 point advance
 through the greater part of the ses-
 sion and small gains were made by
 Fox, Worthington Pump, Air Re-
 duction and Lambert. Shares such as
 Steel common, Westinghouse Elec-
 tric American Can and Union Car
 bide sold off substantially to below
 their previous closing levels. Losses,
 however, were limited to several
 points.
 Most of to-day's unsettlement was
 attributed to the desire on the part
 of traders to take profits offered by
 yesterdays sharp runup in the gen.
 eral market. Some of the profession
 als also seized the opportunity af-
 forded by the improvement to put out fresh short lines in view of the Encouragement over failure of the
 market to resume it's advance during
 the morning trading. Selling also was occasioned by weakness in steel common. which fell more than 2 points from it's early high on publication of estimates of the corporations last quarter earn ings, which indicated that only 30 to 40 cents 8 share might be earned on
 the common stock. Selling pressure was not aggressive, however, and re- sessions were slow.
 There was nothing in the days news to account for renewed activ- ity in the rialroad division, where Atchison ran up several points and Central, Pennsylvania, Alleghany Corporation and Rock Island made good gains.
 EARLY TRADING New York, Jan 21.-(UP)-Stock prices advanced to new high on the | current recovery to-day, ref1ectinS the improved sentiment aroused by
 the impressive rally of the preceding session.
 While gains were small, trading ac- tivity increased sharply, giving inn petus to the buying movement. Lead 1 ing shares such as Steel common American Telephone. Consolidated !, Gas and Warner Brothers made frac- tional gains, while among the more volatile shares. Auburn Auto spurted i 1h points.
 All classes of stocks participated in the forward movement with gains in some of the rails running to substan- tial proportions. Atchison ran up
 more than ? points to 192k, while New York Central gained point to 123. Oils continued their advances
 of the preceding session, leaders like Mexican Seaboard, Texas Corporation
 and Phillips attaining new high ground on the recovery.
 few issues displayed hesitancy, however, Westinghouse losing nearly
 point at the opening on selling at- tracted by it's sharp runup of the previous session. Among the lower priced issues. Commonwealth and Southern and Packard made little progress.
 Steel common was a leader of the nigh grade shares, responding to re- ports of increased operations with a gain of %a point to 141A. Other steels were steady.
 National Biscuit, was under profit taking attracted by publication of its 1880 annual statement. showing new
 record profit for the period.