The Waterbury Democrat., 1931-12-18

New York, Dec i8--(UP)-- Stocks to-day roared upward to 12 points in the best recovery seen for more than 2 months. Wheat spurted 2 cents a bushel: cotton Grmed up a few points: bank stocks rallied smartly.
 Wall Street rumor turned from the gloomy to the bright side. Re- ports flooded the financial district that railroad brotherhoods had ac- cepted n 10 per cent wage cut and railroad shares scared to gains ranging to II points. the best in Delaware & Hudson which sold at 7b.
 Railroad presidents met this morning at the Biltmore Hotel and after being in session three hours adjourned until after the close of tie stock market. Meantime the reports of tho brotherhood wage cut acceptance were circulated. They were unverihed. but the street hnd been anticipating such move and took the rumors for truth. It WIS assumed in some quarters the executives might make the announcement when they reassembled at g D. m.
 The rise continued without inter- ruption, and around the end of the fourth hour prices were lat the highs of the day.
 Steel after touching SC. a new low since 1908 in the early trading. came back 6 points to 41 where 1t was up a 3-s from the previous close. M
 .American Telephone touched 1131-4 and then rose to l181 81-2. ex-dtvidend, up Q 3-4. New York Central rose from 27 to 30 7-S up 37-8 net; Atlantic Coast Line was at 30 up s! Case 43 up 7-S; Con- soiidated Gas 562 3-4 up 3-4; Am- erican Smeiting 21 IA up 21-2; Auburn 137 up 12 1-4; Chesapeake & Ohio 27 1-2 up 8 3-4; Allied Chemical 70 up 4. and Pennsyl- vania Railroad IS Is up 1 3-S.
 Shortly before 2 D. m. call money rose to 2 per cent. refiecting the year-end demand and to some extent the heavier needs of margin tpurchaars, ... 4o. tt
 As n result of the frmer tone in money, the sensitive United States lows on the movement. The re- VI tHc pVha fisst "s&s s regular with convertible rails squirting along with their stocks. A. better tone generally was ex- hibited in railroad bonds in re- sponse to expectation of railroad wage cut which would ensure in- terest for many issues. payments on which are now in doubt.
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 Boston. Dec l8.-- lUP) --An in- crease in department store and speciality shop business and slack. ened activity in the wool market were reported. in Bradstreeta weekly review of local trade condiI tons to-day.
 Activity ialg the wool market has slaekened as mills for the most part seem to have satisfied most of their current requirements and are therefore content to purchase on a more modest scale," the re- view said.
 Wool values on the whole are holding fairly strong with the ex. ceptioD of sales of distressed mer- chandise.
 Sole leather markets are quiet and prices unchanged. Onal leather has been slightly more ac- tive with no change In price quo- tations. Upper leather generally is quiet but prices are firm. Some movement is reported on tho cheaper grades of side upper leather.
 "ahoe manufacturers .. report limited bookings of new business and continued moderate production prevails tn lower priced lines or women's shoes.
 '"The general demand for jewelry is not equal to 1880 nor is the mar ket for the more expensive grades equal to last year.
 "Jobbers of dry goods report quiet conditions prevailing and this Is also the situation among jobberf of mems furnishings. Very little activity is evident in the mems clothing field and dress and suit jobbers and manufacturers report trade quiet, this being a between season period.
 while business has increased ai the department stores and spe' cinlty shops. buying early In the week was effected somewhat by adverse weather. Collections arc fair to slow" ~
 New York, Dee is.-tUP)--stocki opened irregular to-day In mar A