Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-09
WALL STREET SEES
TURN FOR BETTER
Traders Believe Political and
Business Conditions Are
Now Improving.
BY CHARLES w. STORM.

Editor the News Service Of Wall Street.
Special Dispatch to The Star.
NEW YORK, March 9-The mag
netism Of advancing prices last week
has convinced Wall Street operators
that there really is an improvement In
worldwide political and business con-
diticns and that while earnings for the
first quarter Of this year will not be
favorable, there has really been a
change for the better and that the
momentum of improvement will be &C
CELEBRATED by an early Easter.
For a short session of two hours: the
general list made rapid Roadway on the
upside on Saturday. The same specu-
lative leaders which led in the sharp
reaction were prominent in the ad-
vances, the gains ranging from to
points in the most active issues. Au-
burn Auto moved in an unusually small
price range, but this was undoubtedly
due to internal conditions which have
arisen in the group which has been
operating in the stock Those who have
been persiStently bullish on Auburn
Auto for months were again prominent
as buyers of the stock.
Nickel 20 Be Raised.
Rumors were current today that the
price of nickel would be advanced. If
such proves to be the case 1t will be-
the first time in several years that the
price of nickel has been changed.
The price OF silver was firm on Sat-
urday and bankers continued to ex-
press the opinion that the price trend
of the white metal Is definitely upward.
They also added that the improvement
in the price of silver would enhance
materially the buying power of those
countries which use the white metal
as the standard of value.
The Improvement in the price Of
silver is also bullish factor in Inter-
national Telephone & Telegraph and
American & Foreign Power shares. A
substantial part of the foreign revenue
of these companies is in silver, so that
improvement in its price means greater
revenues for those companies.
Public Utilities Strong.
Public Utility shares continued 10
show activity and strength under leader
ship of Standard Gas & Electric, United
Corporation, American & Foreign Power,
International Telephone & Telegraph
and Electric Power & Light. Columbia
Gas was also in active demand at higher
prices. A big short interest is declared
to have been caught In American &
Foreign Power.
Motors Strong.
Realization that a substantial part
of the veterans bonus money is going
into automobiles which sell for a low
price, caused resumption of operations
for the rise In that group. Chrysler
Motor was the leader and advanced to
new high price for this movement on
heavy turnover. Reports stated that
the Chrysler business is increasing ap-
preciably and that the company pro-
poses putting out car at a price level
with Ford. General Motors was also
prominent for its strength inasmuch as
its low priced Chevrolet is also favorite
purchase by the veterans.
Merchandising Stocks.
Some of the most prominent bank
ing houses in the street are directing
the attention of their customers to
stocks. These companies
have experienced material change for
the better in sales in most instances.
1t is true that Woolworth showed a
decrease in sales in February, but other
companies have reported expansion. r.
H. Macy &c Co., McCrory and j. C.
Penney are the favored stocks at this
time. These companies have reduced
operating expenses so that their gross
increase in revenues is reflected in a
tWo-fold increase in net
(Copyright, 1881. by North American News
paper Alliance.)