Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-06
STOCKS IN RALLY
ON LIGHT TURNOVER
LoWer.Priced Stocks Fa-
vored by Buyers-MotorS
Are Active.
BY GEORGE t. HUGHES.

Special Dispatch to The Star.
NEW YORK, February 6.-Again re-
versing its course, the stock market to-
day rallied almost as much as it had
declined Thursday. Perhaps the gains
were not as large as the losses had been
on Thursday, taking the list as a whole,
but the upward movement looked more
substantial than the downward trend
had appeared.
It was the lower priced stocks which
were the most conspicuous in the early
trading. One of TIE features was Dia-
mond Match, which made new high
for the year, selling over 3 points above
where it was at the beginning of the
week. International Match preferred
was in demand, but whether the two
movements had anything in common
could not be learned.
Radio Advances.
Radio was bid up to a new years
high and United States Pipe & Foundry
pushed along into new high ground. In
these low-priced issues there is little
opposition to pool operations from the
bear element, which nowadays concen-
trates all its efforts on what used to
be the blue chip stocks, but now look
more like red chips.
Auburn Auto was the leader of the
volatile type and was bid up to a new
high above $50 share. This is al
most so points above its low for this
year. Checker Cab Manufacturing went
to a new high to the accompaniment
of reports of important trade develop
mentS. General Motors, during the
morning hours, duplicated its previous
high. The local fractions we're out
standingly strong, with Brooklyn-Man-
haitian Transit and marlborough Rapid
Transit both at new peak prices.
Other Changes.
Elsewhere in the list Eastman Kodak
responded to the announcement of a
new film-making process with a rise of
several points, United States Steel rail-
lied point or so and Bethlehem Steel
was higher, as was Coca Cola. On the
other hand, selling broke out in Ameri-
can Rolling Mills and that stock dipped
to new years low. j. I. Case, which
is supposed to harbor large short in
terest, was noticeably steady.
The market took it's cue from bonds
and from the Washington dispatches
forecasting a compromise on the bonus
extra session. The improvement in the
grain markets was also helpful 1t did
not obtain any inspiration from trade
sources. Estimates of railway earnings
for January. which will not begin to
come out publicly for couple of weeks,
we're discouraging. There was nothing
good from the copper metal market and
the same could be said about the steel
industry. Nevertheless, the impressive
feature, to traders at least, was the abil-
ity of the market to ignore the bad
news and TO reflect the good.
Early Market Firmer.
The market turned firm after lower
opening. Neither the initial losses nor
the subsequent advances were large
and the trading was the slowest of any
opening this year.
The pressure on United States Steel,
which was a feature of Thursdays
trading. seemed to have lifted, and the
price advanced Ia points above its low
for the year Bethlehem Steel also was
higher, though Republic Iron & Steel
and Vanadium were unchanged. Money
renewed at 112 per cent, unchanged,
During the first half hour trading
amounted to about 100000 shares.