The Waterbury Democrat., 1931-02-06
But in General the Trend Was for Lower Marks Some That Had Made Good Gains Did Not GO Clear Back-Mercantile Issues Were in Demand
BY ELMER C. WALLER. United Press Financial Editor)

New York, Feb 6.-(UP)-Profit taking operations by traders who had purchased at yesterdays lows points on the stock market to-day.
 Around 2 p. m., however, the main body of stocks still showed gains in the majority of issues. Auburn, which had advanced 8 points, reacted 2 points from its high for the year of 151 1-2 made earlier. Worthing- ton Pump held 2 IA points of A. point gain; and others were in simi- lar position.
 Among the leading industrials the trend was toward lower levels. Steel common which touched 14O 1-8 was down nearly a point from the high Westinghouse Electric touched 87 up 1 IA and then eased to around 86. American Can, Radio and General Motors also eased from their highs.
 Among the active special issues which retained fair portion of their gains were Diamond Match, Radio Preferred issues. Internation- al Salt, Columbian Carbon and Burroughs Adding Machine.
 Merchantile issues were in de- mand most of the day, featured by the leading mail order shares which made new highs for the year. Cop pers were barely steady on news of a further price cut and publica- ton of earnings of two companies S showing large losses in the last quarter of 1880.
 Weekly business reviews were less optimistic, a factor in the late de- cline. E. G. Dun & Company said:
 Some irregularity. arising from impaired purchasing power in many sections, IS obscuring to some extent the effects of the advancement that is being made slowly"
 Bradstreet finds retail trade re- tarded by unseasonably warm wea- ther, On the one hand, and formal opening Of spring trade through the medium of style shows and the like. This authority also finds some pick up in the automobile business as a result of the warm weather.
 EARLY TRADING
 New York, Feb 6.-UP)-Prices were irregular at the opening on the stock exchange to-day with trad ing dull.
 Changes were fractional and a long list openerd at the previous close U. s Steel met support and opened at 138N up N. Small gains were made by Bethlehem Steel, Stone and Webster. Worthington Pump, Radio Corporation. and Sears Roebuck.
 Amusement shares which had been film in recent markets slid off with Radio Keith -Orpheum at 18BM off F and Fox 33 off ss. New York Gen. tral dipped B to 12A in the rails Coppers were firm despite informa- offering the metal at 9% cents q pound, the lowest since 1896.
 Radio Corporation Preferred B opened at 50A, up IA points,. the widest gain in the initial dealings. Directors of the corporation meet for dividend action to-day.
 Utilities were irregular in a narrow range. Small losses were made by Public Service of New Jersey, Ameri- can and Foreign Power and North American, while United Gas Improve ment held unchanged and American Telephone rose fractionally.
 Bethlehem Steel met selling in the early trading, dipping to 51$ off h from the opening and equaling the previous close. Radio Corporation common yielded it's initial gain and slid below the previous close. Amer U. $ Steel.
 Tickers barely moved after the ini- tial offerings had been disposed of. Bearish pressure which was in evil dence throughout most of yesterdays was lighter to-day and shorts did not appear disposed to push their 
 News of the day was of little inn portance for the market. Word that a compromise bonus plan was being up sentiment. further reduction in brokerage loans had been expected. It amounted to $18,000,000 for the week, the 18th decline in 19 weeks