Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-23
CURB STOCKS SAG
INLIGHT TURNOVER
Leading Issues Receive Good
Support--UtlIitieS Group
Features Trading.
BY JOHN A. CRoNE.

Special Dispatch to The Star.
NEW YORK, March 23.-Pfices OF
the Curb Exchange opened lower TO-
day, rallied slightly and then slid of
again on small volume OF trading
Pivotal stocks repeatedly resisted sell
ing their action suggesting support.
The leading utility, Electric Bond
Share, was down more than point 81
times. but easily snapped back. Amer.
lean q Foreign Power, its principa
operating subsidiary, was of about 9
half point. Cities Service gradually
declined more than point, but recov-
cred most of this loss within a few
sales.
The break in wheat prices brought
about s0ftness in farm implement ailo
allied shares Selling in this group was
not pronounced because these shares
cue TO their earning outlook, have failed
to show much recovery on the recent
general bulge.
Stock of the new company resulting
from the merger Of Columbia GRAPHIC
phone and Gramaphone Co. made its
bow on. the Curb Exchange today at
1914. In the high-priced industrials
Aluminium, Ltd, and Great Atlantic &
Pacific Tea rose to record high levels in
forenoon trading.
Automatic Voting Machine Corpora
ton responded to its 1880 report, which
showed a net profit Of 5000 ,459. against
S411,261 in 1929 Beneficial Loan
Shares, through their fractional decline
reached q new low.
Cord Manufacturing, in point OF
activity, was feature in motor dealings
because OF the huge orders of its air.
craft unit. In the air share list, how
ever, the general tone was reaetionary
due to profit-taking. The latter devel-
opment took place despite the announce
ment that January air mileage and mail
and passenger business were up about
SO per cent over the same month OF
last year.
A few natural gas shares and some
pipe line issues bettered in forenoon
trading but these groups, as well as
peroleums, were dull and heavy. Saxtet
Co. gas and oil holding firm, rose a
small fraction as it announced plans
to increase common stock from
100000 TO 100000 shares. United
Gas also maintained quotations. Ma
tional Transit jumped points to a
record high price for the year and
Indiana Pipe Line was up a point by
midday. Aside from Cosden OH and
few other low-priced shares, miscel-
laneous oils softened.
Standard Oil of Indiana came within
a small fraction of its years low.
Standard Oil of Ohio dropp.d despite
its acquisition of chain of retail and
bulk stations of Fort Industry Oil Co.
in Toledo and Cleveland. Gulf Oil,
among the high-grade miscellaneous
petroleums. sold of in response to its
1880 report.
Anglo Chilean Nitrate reacted rapidly
on few sales. Noranda Mines, whirled
so vigorously last week on the offieial
statement about its new gold find, lost a
point in the first few hours. Other
metals were inactive but heavy. Re
fiecting the improv: ment in textiles,
Apponaug Co., a bleacher and dyer,
added to its 15-point gain of recent ses-
sions. Speigel May Stern. preferred,
mirroring a pickup in furniture sales,
advanced points to a nsw peak price.
Foreign utilities reacted because of
the weakness in London. Italian Supsf-
power A, which climbed to new high,
was an exception to this trend of trans
atlantic power and 1ight issues In
the Canadian group Montreal Light.
Heat & Power opened unchanged, whils
Bell Telephone Of Canada, despite being
quoted ex dividend today, rose several
DOiflts