Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-17
STOCKS HOLD FIRM
IN. PROFIT TAKING
Market Runs Into Realizing
After Recent Advance
in Prices.
BY GEORGE t. HUGHES.

Special Dispatch to the Star.
NEW YORK, March 17-Strong at
the start, stocks ran into enough real1z-
ing to check the advance in the later
trading of the days market without,
however, uncovering any real weakness
and with volume falling off on the
reaction.
Utilities, food stocks and merchandise
ing shares we're in active demand in the
first hour, with many prominent issues
selling at the highest of the year. The
strong close on Monday brought in over
night buying orders and they We're
executed at advances, fractional for the
most part, but the best for the move
ment.
Among the features we're Consolidated
Gas and the other stocks in its imme+
date group, including Public Service
Of New Jersey and United Corporation,
all three at peak prices for the year.
There was nothing new in this situation,
but the buying seemed to be OF the
Informed" sort.
OF the store stocks, Woolworth, Safe
way Stores and Macy were the most
promir snt, and in the food list National
Dairy Products, Borden Co, General
Foods and National Biscuit were the
leaders. Beatrice Creamery displayed
special strength, up at one time nearly
8 points. All of this was in accord
with the trend of speculative sentiment,
which is all for the distributive shares
and for the package food companies.
Not so easy to understand was the
strength in the copper stocks.
Metal Shares Advance.
Metal sales today were small, with
some lots changing hands at 10 cents
a pound, although the producers were
holding to 1914 cents Howe Sound re-
duced the dividend on its stock from a
"a to a So annual basis. Nevertheless,
Howe Sound advanced after the news
was out, and Anaconda, Kennecott,
American Metal and American Smelling
all advanced, strengthening the convic-
ton in the minds of experienced obSerV-
ers that stocks are easier to sell than
to buy.
The standard industrials were firm
for the most part. Westinghouse Elec-
trio sold of, perhaps rejecting doubt
over next weeks dividend meeting but
United States Steel made a new high
on the movement and General Motors
was steady, less than point under its
high. Shorts in Allied Chemical and
in Auburn Auto thought it wise to cover
and both these stocks advanced, Auburn.
crossing the 200 mark.
There is little to be said about the
rails Most of them, we're heavy but
inactive. WIN Tie railroad SITUATION
so uncertain. the confident buying of
the industrials was all the more i'm
preSsive.
Early Market Irregular.
Though advances were in the maiority
during the morning, there were losses
in isolated spots throughout the list.
The selective tone Of the trading was
attributed to uncertainty over current
trade reports and to short covering in
stocks in which heavy liquidation has
occurred.
Auburn Auto moved up 3l2 points to
above 200 United Corporation. Con-
solidated Gas, Reynolds Tobacco B, Ma
tional Dairy Products and Woolworth
all made new tops fc1 the year. United
States Steel was over a point higher
During the first half hour trading
amounted to 100000 shares, compared
with 300, 900 on Monday. Call money
renewed at IL per cent.
There was particular activity in the
store stocks, especially Montgomery
Ward, Sears-Roebuck and Woolworth.
Standard Brands started off on a 5000
share block and made a gain of nearly
a point Corn Products made a similar
gain. Other industrials were quiet.
Mine shares were slightly better, but in
active. Rail stocks were irregular.