The Waterbury Democrat., 1931-04-13
U. s. Steel and Other Big : Issues We're Very In- active Spanish Peseta Dropped Down 79 Points
 When News of King Was
 Heard
By ELMER c. W.ALZER United Press F1nanciuI Editor.


 New York, April 13.-tUP)--Au- burn Automobile and American To bacco issues were outstanding in to- days dull stock market session. Au- burn made a. new 1891 high at 288 IA up 9. 3-4 from the previous close and up 1S6 3-4 from the low of the year. American Tobacco touched 127 up IA and the E at 13Os3-8 up 4 Is net.
 The foregoing issues made the ex- treme moves on the upside
 Vanadium featured in the other direction, at one time being off 4 points at 51 1-2 and rallying only fractionally.
 Elsewhere movements were nar- row.
 Auburn's spurt was helped by the company's report for the first II days of April when shipments amount to 2.16S cars. This brought shipments for the year to date to 13,888 cars, against 13,693 cars for the entire year of 1880.
 U. s. Steel eased off fractionally from the previous close in the after noon but it was inactive. Westing- house Electric and Radio corporation rallied from early declines. Tobacco shares moved up with American to- bacco issues. Utilities held firm and oils were about steady. Railroad shares dipped slightly in light turn over.
 Julius Kayser firmed up fraction ally to IT following action of direc- tors in reducing the dividend from $2 to $1 annually. This stock has been hammered down in recent ses- sions in anticipation of adverse divi- dend action.
 Vanadium's weakness wes in ad- vance of the dividend meeting Wednesday when slashing of the pay ment is expected.
 A feature in the financial commun- ity was drop of 79 points to 1928 cents for the Spanish peseta on news from Madrid that the republicans had demanded abdication of the king. To- days decline wiped out all gain made since early April in anticipation of -stabilization of the Spanish currency. Nc official support for the peseta was forthcoming here.
 EARLY TRADING
 New York, April 13.-(UP)-Prices moved narrowly in quiet trading at the opening on the stock exchange to- day.
 Most issues showed small gains Rails were mixed, motors firm, steels irregular, utilities steady.
 American Tobacco rose a point to the high of the. year in their divi- sion. Oils and amusements hoyered around the previous close.
 The first sale on U. $. Steel was al small gains also were noted in West inghouse Electric, American Can Radio Keith, Fox, Union Carbide, Sin clair, Montgomery Ward and Kenne- colt,
 Auburn Automobile opened at 2s0% up 2A. and later rose 2 points from that level. General Motors was firm at 44% up A while Chrysler held unchanged at 22A.., slipping off F points to. 54. Johns urday. firmed up fractionally to-day Aside from, the foregoing weak spots the market lacked feature.
 SPANISH MONEY.
 New York. April 13.-CUP)-The Spanish .peseta dropped more than a half cent in local foreign exchange quoted at 10.49k cents per peseta, of 5a points, against the par value of 19.30 cents. Eat
 Selling of pesetas here followed d peseta was quoted at 45.57 to the pound.
 CITIES SERVICE
 New York, April 13.-(UP)-De spite decline in power sales, con- solfdated net earnings of the Cities Service company and subsidiaries in : creased $i5,1000,000 during 1880 to a total of. $S4,s62.95s. the twenty first annual report of the company. re- vealed to-day.
 company were s215. .oss,oo7. Compared with $1S5,S51 ,053E in the previous year lrefiecting an expansion of activities through existing facilities. Subsidi. aries of the company during last year sold more than 1,4S3 1000, 900 llilowatt hours of electricity to more thar 416,000 customers. i | Total assets of Cities Service com. pany on December 31, 1930. amount. ed to 1.2S2,624,854. compared witt $1 1.090, ,227,31S at the end of 1929. ar 1000. q Security holders of the company rose during the year from 750,000 tt approximately 1000. 900. while tota common stockholders at the end oi 1930 totaleds 460,000 compared witt 35a,000 a year ago..