The Waterbury Democrat., 1931-02-18
General Asphalt Gained 6 Points for a New High of 43H-National Power X Light Was Leader in Utilities
BY ELMER c. WALZER. United Press Financial EditOr)

New York, Feb 1S.-(UP)-Stocks advanced l to more than points to-day, slowed down in turnover and held the majority of gains as the end of the fourth hour approached.
 Persistent buying of the leading issues including U. s. Steel Westing- house Electric, American Can, Gen. eral Electric and National Biscuit was outstanding. The volatile per- formers of the recent sessions-
 Warrington Pump, Vanadium, Case and Auburn were quieter.
 Utility shares made distinctly better showing, while coppers made a quick turn about from an easier position. Department store shares swung into line in the afternoon. Morning operations were dominated by automobile and automobile equip- ment shares, most of which rose to new highs for the year on buying based on improvement in the auto mobile business set forth in the weekly steel reviews.
 General Asphalt scared 6 points to new high for the year at 43 1-2. The remainder of the oil list made no progress either way in dull turn over.
 Affecting General Asphalt was
 VOAo AAOAl A[Ou0Oh LAIdJ LIlS COIIl- pany had won a suit against Anglo Saxon Petroleum company on claims about Venezuela concessions.
 Loew's rallied nearly 3 points to 62 3-8 to feature the amusements. Food shares were enlivened by strength in National Biscuit and Standard brands. Air Reduction was up nearly points in the chemicals.
 National Power & Light continued the leader in the utilities. Rails were firm with the exception of St Louis- and San Francisco which lost l IA points to 58 3-4. Atchison rose 2 points to 200 and Pennsylvania gained fraction to 61 1-2.
 EARLY TRADING
 New York, Feb 18.-(UP)-Optimis- tic outlook for the steel industry ed the downward movement in pro- gress on the stock exchange in the late dealings yesterday.
 At the opening prices were up frac- steel issues were in demand. General Motors led It's division, opening on a sale of 5000 shares at AZ up Y. Auburn Auto rose 2A to 191 while Worthington Pump point to 94N. Motor shares rose on increased busi- ness in that industry. Amusements were mixed with Fox off 4 at S6. Utilities improved. oon.;,a 0iis held steady: a under the lead of Briggs and Murray Corporation.
 The Iron Age statement on the steel industry was a surprise to the the industry yesterday showing U. s. Steel Corporation operating on 8 re-
 According to the Iron Age, "a more ns aa t9ns both in s rea o further slight expansion in business and more definite promise of larger and more diversified demands with the coming of open weather" motor car industry has helped bol- ster up the industry. It has been so sudden that the Iron Age remark ed There is doubt whether it IS in the motor car business."
 optimistic statement on the automo- bile business ssa by Walter Mo+ora Garys,er: cnm: panv, which tempered poor earnings report of his company. Chrysier earned only s cents a share in 1880, against $4.94 a share in 1929.
 Pennsylvania Railroad company ans Sl75,OO0, 900 in two and one half years instead of four years as originally planned to complete extensive im- provement projects, including elec- trification of lines and building pas-
 Other railroad news included de- cline in car loadings and poor show. ing by New York Central for 1930 when the company earned only $721 a share, against $16.70 share In
 During the early trading prices con. tinued to move. Steel moved toward l16 and General Motors rose nearly a point Chrysler sold off at the opening on its poor earnings state. ment, but quickly rallied and Joined the general advance in the uatomo- bile division, reaching new 1881 peak. bile equipment group, which respond ed to improvement in the automobile industry. Briggs Manufacturing rose to 20M up IS; Murray Corporation 16N up 2; Borg Warner 2S& up 1A; and Electric Auto-Lite 60H up A. :.
 Vanadium opened at 69A up and quickly rose to above 72. Other steel shares were strong.