Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-04-14
STOCKS IRREGULAR
AFTER EARLY GAIN
Public Utilities Feature Mar
ket-Trading Turns Dull
on Rallies.
BY GEORGE 7. HUGHES.


Special Dispatch TO The Star.
NEW YORK, April 14-Stocks al
much mixed market, trading being
governed not by the outlook for the
whole list, but according to prospects
Of individual issues.
Opening quotations were mostly
higher, In continuation of the recov-
cry in the last hour on Monday, but
after the overnight buying orders had
been executed, weakness cropped out in
various quarters and the list turned
moderate pressure on publication Of
estimates that flrst-quarter earnings
would not cover dividend requirements
for that period. Westinghouse Elec-
trie sold OF again sympathetically.
A. +. q +. Report.
American Telephone b Telegraph re-
ported $2.51 q share for the first three
months Of the year against $2.96 q
year ago. The stock was strong ct the
start, but weakened later B. r. Good
rich was freely offered, the common
dipping 70 new low for 1881. Senti.
ment Yves affected by the drop In the
preferred stock the day before. Good.
rich preferred Is still On the dividend
weak, with q new low for the pre-
ferred stock Of the Delaware company.
Amusement stocks were another
group in disfavor Fox Film and Para
mount-Publix we're the most affected.
The excuse given was that with the
general depression so much prolonged,
earnings on the theatrical shares were
sure TO be sharply curtailed. Oil stocks
were heavy, with . few notable ex-
General Asphalt and for Prairie Pipe
Line. The later Is expected TO benefit
from contracts with the producers In
the MAST Texas field. The rank and
ME OF the oil shares were heavy, re-
decting an increase In crude OUTPUT
for the week ending April IL and the
obstacles that the proration movement
II fneeting.
Against all these declines was the
relative strength in the motor shares.
General Motors made new high on
the movement up point and less than
3 points from the best Of the year.
Auburn went to new high, although
al the gain was not held. New highs
were made by the American Tobacco,
shareS, while Columbian Carbon and
Pullman rallied from their recent lows.
Opinion was more optimistic as to the
Pullman dividend.
There was little change in the rail-
road list. Missouri Pacific preferred
1SN0NCAN4 = VI tOAltO 0A10 EJOAbAlCLA
Railway about as much. New Haven,
N. Y. Central and Union Pacific were
. shade higher, but Louisville 81 NASH
vile lost ground and Lackawanna made
3 new low.
Early Gains.
The market in trading somewhat
more active than In recent sessions,
held its opening gains for the most part
early today, though there were q few
exceptions where special fNctors ex-
listed.
Vanadium, which was affected by
the inaminence OF the directors meet
ing for dividend action, dropped to Q
new low on the movement ct 4o3z. In
the rails LAckawanna hit o new bot
tom for the year. Elsewhere the list
followed the motors into higher ground.
General Motors temporarily assumed
leadership Of the market with o new
high for the movement. Other strong
Automotive shares were Auburn which
touched new top for the year; Nash
and Hudson. United States Steel was
comparatively inactive and about un-
changed. During the first half hour
there were 800, 900 shares traded against
100000 on Monday.