Evening star., 1932-09-03
STOCK PRICES RISE
IN BRISK TRADING
Steel Shares Lead Market
Into Higher Ground-In-
duStriaIS Active.
BY CHARLES F. SPEARE.

Special Dispatch to The Star.
NEW YORK. September 3.-Follow-
ing one of the most active openings on
the current rise, stocks moved steadily
forward today. On the increased
volume many issues over broad por-
tion of the list reached new high prices
for the year.
The steel shares, as group, were the
strongest in early trading, virtually
every active issue in this classification
touching new high ground. Among
these were Bethlehem Steel, Gulf
States Steel, National Steel, Republic
Iron & Steel United States Pipe &
Foundry, Vanadium. American Rolling
Mills and Youngstown Sheet g. Tube.
IndustriaIs Active.
This forward movement of the steels
reflected the sensational advance in
scrap prices. improvement of which
usually precedes an upturn in steel
operations. Then numerous companies,
among them subsidiaries of United
States Steel Corporation, indicated an
expansion of operations next week.
The present average rate of 13 per cent
Tor the country compares with 40 per
cent at this time in 1921. Todays
rate is below actual minimum needs.
The standard induStrials ranked Sec
Chemical, American Can, Westinghouse
and Eastman Kodak gained. Some Of
this group were at new top prices for
the year.
The motor list also surged ahead.
General Motors was up fractionally as
the street heard that its August report
will record improvement, but 1t was not
said whether this betterment came from
economies or increased business. Yel-
low Truck & Coach was the feature of
the group as it was turned over in VOL
ume on rumors of several big orders.
Chrysler scaled new heights, as did
Mack Truck.
The rails quickened, with Delaware &
Hudson setting the pace. After it had
touched new high, Illinois Central
and Central Railroad of New Jersey did
likewise. Great Northern and Southern
Pacific then turned higher.
Du Pont was an outstanding per-
former as its subsidiaries announced
price advances in imitation leather and
rayon. Industrial Rayon was lifted to
a new peak on volume bidding. Com
mercial Solvents and Air Reduction
Stiffened.
Store Issues Higher.
The expectation that next week
would usher in a general retail buying
movement caused bidding up of mer-
chandising shares. This argument was
bolstered by the betterment in COM
modify prices. In August commodities
not only staged their third monthly
consecutive advance, but had the big
gest increase for any similar period
since July, 1925. Mail order shares led
an upswing, with Montgomery Ward at
new high levels. The best gains were
registered by R. H. Macy g. Co. and
F. w. Woolworth.
The food group pace-setters were Ma
tional Biscuit, Safeway Stores, First Ma
tional Stores, Krcger Grocery and
Standard Brands, about in order named.
United Aircraft led the air shares. The
strength in non-ferrous metals resulted
in new highs by American Smelling,
Anaconda Copper, International Nickel
and Noranda Mines.
Western Union was the leader of the
communication shares, in point of ad-
vace, Though it was overshadowed in
point of volume by American Telephone
and Radio North American and CO.
| lunlbia Gas were at new highs. The
latter. in addition to its recent financ-
ing for Dayton subsidiary, may DO
some new financing on its own account
scon, the street heard today.