Evening star., 1932-02-08
CURB STOCKS DROP
AS UTILITIES EASE
Weakness Spreads to Gen.
eraI List When Power
Issues Are Sold.
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 8.-Pressure
against public utilities caused stocks on
the Curb Exchange to move steadily
lower today. Volume, however, was less
than in recent sessions.
Electric Bond & Share was off frac-
tionally after several trades in lots of
1000 shares or more appeared on the
tape Cities Service was shade low
er in early dealings. but later recovered.
Standard Oil of Indiana was up small
fraction around midday.
The insult group of power and light
shares encountered offerings from Chi
coga today following week end reports
that some Of the Eastern holdings OF
that utility interest may be sold to an
Eastern utility concern. Middle West
utilities and insult utility investments
were the first of the insult group to
touch new low ground
National Power g. Light preferred
yielded more than a point. After TINS
wave of selling in the power and light
shares some Of the Chicago issues OF
miscellaneous companies began to ap-
pear more frequently on the tape. ThlS
group included Swift International,
Deere & Co. and A. o. Smith Corpora
ton. which suffered setbackS ranging
from fractions to more than two points.
While this Chicago selling was in
creaSirg Wall Street / ard an uncon-
frmed report from Washington that the
Reconstruction Finance Corporation
soon would announce the reopenlng OF
some of the closed banks in Illinois,
Indiana and Ohio.
Great Atlantic & Pacific Tea opened
of 4 points. Van Camp Packing. Car
nation Co. and other food and packing
stocks weakened These movements
followed the softncss of food securities
on the big board, where it was said
most of the selling represented liquida-
ton of estates and came from London.
Sales reports of various restaurant
chains were not encouraging. Bick-
ford's January sales were down Sd per
cent. The drop of more than 10 per
cent in January sales Of Lerner Stores
Corporation was not forecast by the re-
cent advance in that issue.
Shortly after midday offerings of
NeWmOnt Mining increased, causing the
stock to relapse more than point
Previously some of the coppers, like
United Verde and Hudson Bay Mining,
had been higher.
Aluminium Co. of American common
clined , points after Aluminium, Ltd,
yielded 212 points. Pittsburgh Plate
Glass firmed Net loss of S452,816 for
the seven months ended December 81,
1881, was not forecast by the market
action of Globe WerniCke, Though the
declaration of the regular dividend by
Columbia pictures had been indicated
or the tape.
The weakness extended to other sec
tions of the list following the decline
of Commonwealth Edison and the soft
ness of American Cities Power g. Light
A. In the general downward move that
followed Associated Telephone Utilities
lost . points. Cleveland Electric pre-
ferred declined 3 points.
A mixed price trend prevailed at the
opening
Electric Bond & Share on block of
1000 shares opened at 10ls, of Il.
United Light & Power A at 6's and
Middle West Utilities at As were un-
changed but Niagara Hudson Power at
g.. lost l..
Standard Oil of Indiana was slightly
lower at I47s Cities Service at SIS was
of a shade Hudson Bay Mining, how
ever. advanced a trifle to 2is, As did
United Verde Extension at s.. United
Gas at 2,s climbed Is Aluminium Co
of America yielded ?, to Al Aside
from a few trades in Blue Ridge con-
vertible preferred and United Founders
investment trusts Jagged.
The quietneSS that prevailed in early
London dealings was reflected here IN
such shares as Ford Motor Co. Ltd,
and WoolWOrth. Ltd Stutz Motors was
of slightly. Commonwealth Edison
opened down nearly points.