Evening star., 1932-09-23
CURB SHARES FIRM
IN UPWARD TREND
Utilities Take Lead in Re-
sumption of Rise-0iIs
Irregular.
BY JOHN A. CRONE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, September 23.-Strong
at the outset today, the Curb Exchange
increased its initial gains Trading,
however, was much slower than on
Thursday.
Electric Bond & Share near midday
was up about 3 points. American Gas
& Electric was up about 2 points.
Cities Service was virtually unchanged.
Standard Oil of Indiana was a shade
lower
Aside from encouraging weekly bank
Ing statistics, such as the greater than
seasonal contraction in currency circu-
lation, the rise of gold reserves and the
drop in brokers' loans, there was little
overnight news of financial Importance.
Moving picture theaters reported higher
box office receipts. Automobile produc-
tion in September, for the first time
since 1925, was higher than in August,
thereby going contrary to seasonal
trends.
Columbia Pictures opened lower.
though later it steadied Earnings for
the fiscal year will top So share. Bet
ter grade films are boosting local box
office receipts, which accounts for the
recent activity in such shares.
Some of the rails, such as Pennroad
and Pittsburgh & Lake Erie, moved
higher. Safety Car Heating & Lighting
climbed to new peak for the year.
Although the radio trade show here has
attracted good business from retailers.
radio manufacturing shares Jagged.
Air shares as a group acted somewhat
tired after their recent stimulus from
the big bookings of foreign orders for
various types of planes 1t was the oil
securities, however. that showed the
most informly heavy and irregular
tendency in an otherwise firm market
during the first three hours.
In an attempt to reduce gasoline in
ventories, retail prices in this section
have been lowered again. This price
revision will result in smaller earnings
for the fourth quarter. The oil industry
also faces many legislative problems
during the coming months. These in
clude increasing efforts to divert gas
taxes from highway maintenance To
other expenditures; laws designed TO
regulate motor truck operation, and an
attempt to separate pipe lines from OIL
company ownership.
Eureka Pipe Line and Southwest
Pennsylvania Pipe Line were weak.
Pure Oil preferred opened down more
than a point Northwestern Yeast.
after squirt Of 16 points late Thurs
dav, opened off 2 points. Food shares
were rather dull in early afternoon
dealings.
The unexpected improvement in re-
tail sales of automobiles in the latter
part of August. as well as the shutdown
of the Ford plants during that period,
caused the stepping up OF September
automotive output. Operations next
month will be governed by sales this
month. but the industry generally is
somewhat more optimistic than the
tape action Of the motors today sug-
gests
New Jersey Zinc declined point on
the first few trades. The price Of zinc,
however, remains unchanged at 3.25
cents a pound. The Midwest Refining
Co. has called special shareholders
meeting October 27 for the purpose OF
selling its assets to Standard Oil Of In
diana and the Standolind Oil e. Gas Co.
Indiana Standard now owns SO 96-l00
of Midwest refining.