Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-03-25
STOCKS GO HIGHER
!. IN TRADER MARKET
Rails Join InduStriaIS in Up
swing, but Advance Is
-
Moderate.
nv GEORGE 7. HUGHES.

Special Dispatch to The Star.
NEW YORK, March 25.--In market
dominated by professional activity,
stocks worked upward today. In few
specialties with limited floating sup
ply the gains were large, but for the
most part the advance was moderate.
Railroads recovered with the industr1als.
The gain in the carrier stocks was
made in the face Of another batch OF
unfavorable February earnings state
1nents. in the face Of dividend uncer-
tainties and in the face Of a continued
decline in car loadings, as compared
with a year ago, although loadings were
I'D on the week and showed signify
larger than normal seasonal increase.
Evidently there was q large snort M
terest in the rails, as well as In the
industrials.
Move In Auburn.
leaders in the first half Of the session
Included New York Central, Baltimore
a Ohio. Union Pacific and Southern
Railway, all of which sold higher on
light volume.
The interests sponsoring the move IN
Auburn Auto showed no mercy 10 the
shorts. They had bid the stock up Fl
points on Tuesday, and before noon
today they had advanced 1t IL more
points, putting it to new years high
above $3.50 a share and almost $50
points up from the years low. al
hitting an encouraging trade outlook,
no one supposes that this spectacular
rise reflected anything other than the
manipulation possible in stock with
so small floating supply.
Similar operations, but on a much
smaller scale, went on in Vanadium.
This stock ran up under combination
Of new buying and short covering 70
approximately its best for the year.
Commitments for the decline In j. !.
Case were taken and that stock, too,
pushed ahead.
Investment Stocks.
Coming to the stocks Of investment
rating. the best showing was made by
American Can, which sold within g
fraction of its years best Food and
store stocks were strong at intervals,
with new highs for National Dairy
Products and Woolworth. McKeesport
Tin Plate added to its sharp gains OF
the day before, taking 1t to new high
ground.
While all this was going on in these
selected issues. United States Steel and
General Motors Jagged behind. Traders
were abandoning motors for stocks that
gave them more action" and Steel was
held back by the uncertain tenor OF the
Weekly Trade Review.
Here and there q weak spot appeared
Columbian Carbon was pressed Tor sale
and dropped back 4 or points. Divi-
dend uncertainty and trade conditions
we're blamed for the liquidation. Cop
per stocks were heavy, but held remark
ably we'll in view Of the situation in the
metal market The oils did nothing one
way or the other. In fact it was not g
broad market, the turnover being con-
fined to a comparatively few issues.
Early Market Irregular.
Strength in industrial specialties,
moderate short covering in the rails
and irTegularity elsewhere In the list
characterized early trading.
Buying Of the rails presumably was
based on the increased car loadings re-
ported 10 the weekly statement. 1t
benefited New York Central most, al
though Union Pacific was point or two
higher.
Auburn Auto was bid up again to
another new high, showing a gain Of
points at 249 on top Of its 21-point
advance Of Tuesday. McKeesport Tin
Plate and American Sugar Refining
likewise made new highs in the first
hour.
On the other hand. Westinghouse
Electric was heavy awaiting decision OF
the directors on the dividend. United
States Steel, Consolidated Gas and
American Can we're shade lower and
fresh liquidation IN Columbian Carbon
carried that stock of to new low on
the movement.