The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-11-19
BY ELMER C. WALLER
United Press Financial Editor

NEW YORK, Nov. 19.-Failure OF
a drop of 81, 200 cars in the weekly
car loadings report to upset rail-
road shares helped restore conf
dence on the Stock Exchange to-
DAY and prices moved up easily ul-
der head of the recognized leaders.
Trading started off light and did
not pick up to any extent until
near the close, when there was a
brief furry Of short covering and
prices reached their best levels Of
the season. The list was mixed at
the outset, slipping back in the
early trading. Firm wheat prices
contributed to the upswing and sew
eral other favorable news items ap-
peared as the session wore on.
Considerable interest was mani
tested in the October foreign trade
figures, which registered the third
successive increase in both imports
and exports. The increase in ex-
ports for October of nearly $2l,-
100000 was the second largest for
the year and were close to the
high for the year.
Steel Operations Up
Word from youngstown showed
steel operations there rising at II
per cent of rated capacity, against
II per cent this week That helped
push United States Steel across 36,
against a previous close of 35A.
American Telephone and Tele-
graph appeared to be giving be-
lated recognition to the declara-
tho Of the regular dividend several
days ago. 1t rose to around no,
against a previous close Of 1071z.
Utilities generally were steady to
firm.
Railroad shares moved up when
the car loadings report was issued,
indicating that the decline had been
anticipated correctly and discounted.
The loadings were for the week
ended last Saturday, which in
cluded the election day holiday
throughout the country and the Ar
mistice day holiday celebrated in
several states.
Oil Shares Strong
Atchison and Union Pacific each
rose more than points and other
issues were up fractions to more
than point.
Activity came into Mcintyre Por-
cupine and the issue rose to new
high for the year at 2O5s, up rs.
Buying was said to be coming from
Canadian sources. Strength in Nc
Intyre helped gold mining shares
for a time, but they failed to fol-
low the issue through the session,
Oil shares gave a demonstration
of strength near the close. Sea-
beard Oil featured with long
string that carried the price from
17la to 1877, where it closed. That
was new high for the year and a
rise of rs points over the previous
close. Texas Corporation and
Standard Oil of New Jersey also
were in demand.
Fear Debt Conference
j. I. Case followed wheat into
higher ground. Chrysler was a fea-
ture of the automobile group, aided
by pool operations. Heavy dealings
relatively were again recorded in
Montgomery Ward and the issue
closed at 14l$, up q for the day.
Gains of to more than 2 points
were registered in Eastman Kodak,
Allied Chemical, United Aircraft,
Johns Manville, and Columbian
Carbon.
Not little of today's short COW
ering was done by traders afraid to
remain short as the time APP
preached for the conference on war
debts between President Elect
Roosevelt and President Hoover
next Tuesday. Any method to alle~
viate the debt burden at this time
would be considered highly bullish
for the stock market. according to
Wall Street experts.