The Waterbury Democrat., 1932-10-28
Stocks Jumped Up
 In The Last Hour
 Of Trading To-day
They Advance From to Points - But the Volume
 of Trading Continued Very Light

1 hanging the market. Leading
 shares held small gains most of | the time. Steel common ranged
 between 35 3-8 and -3e 3tS after
 2 p. m. when it rose to 37. The
 preferred covered 1-2 point arc touching 76 1-2 up 1-2 and fin-
 ally shot up to 7S where it was
 3 points above the previous close. l Strength in bonds, notably the
 railroad group, was a factor in the
 late stock market rally. Railroad
 shares were strong as group.
 Atchison and Union Pacific jumped
 more than 2 points each, while gains of more than point were
 noted in a long list of others. Strength in the Baltimore & Ohio
 stocks and bonds featured the re- spective markets.
 American Telephone fuctuated
 between 103 3-4 and 104 3-4 until
 near the close when 1t crossed 105.
 Other utilities did the same. Leading industrials scored good gains. National Biscuit, recently
 weak spot, rose more than points. Case National Biscuit, recently Q weak spot, rose more than points. Case gained nearly on steadier prices for wheat. United Aircraft resumed it's advance. AL lied Chemical, Drug, and American Can gained a point or more. .Au-
 burn Auto was bid up points at
 one time.
 Selling came into Studebaker is- sues late in the day as 8 beIated se- quence to the adverse report issued
 by the company in the third quar- ter. The preferred stock dropped points to Al where it was yielding IF per cent. Most of the days meager supply of market news was favorable. The.
 principal item was the federal re- serve report which showed another
 sharp decline in money in circula- tion and a substantial rise in
 monetary gold stocks.
 Weekly business reviews found
 some leveling off in the recent up- trend. Both Dun's and Brad
 streets found steadiness in the fundamental situation. Earnings of oil companies com- pared very favorably with those of year ago, and railroad reports
 also were making a better show
 ing as compared with recent
 months.
 The pound sterling jfirmed up in
 the local foreign exchange trading,
 thereby eliminating for the time
 the unfavorable effect of a drop
 in that currency. Other currrencies
 moved narrowly. The American dollar improved in France.
 + WOOL MARKET Boston, October 28 - (UP) - The local daily wool market re- port issued today by the Boston U. S. Agriculture Department Bu-
 reau follows:
 The wool market continues very quiet. Only a few scattered sales are being closed. Prices are about steady on the. current odd lot bus- mess with some sales slightly lower than quotations on large lines while others are fully up to present prices. The principal offerings of wool continue to be held at quota. tions unchanged from last week. CHICAGO WHEAT Chicago, Oct 28-(UP)-Wheat prices moved up and down on Q Chicago board of trade to-day and
 closed M to 4 cent lower. A mid-morning dip. to h cent
 below yesterdays close was offset Dy d idSt AiiAuto 1diy AAuuCcu Uy firmness in northwestern markets. Short covering aided the slight re- covery. Trading was light through. out.
 At the close, wheat prices were: December 45% off A cent; May 50%, off A. and July 52A, off A cent a bushel.
 Corn and oats strengthened slightly, with corn closing A cent
 higher and oats, unchanged to Y cent higher. Rye was unchanged
 tot h cent lower. 4