The Waterbury Democrat., 1933-01-30
Railroad Shares In The Market To-day
 Led Slight Rally
Foreign News Took Up More Interest Than Did Deal- ings in the Local Market-SOme Bad News From Across Water

clamped down restrictions on for eign exchange transactions and the Danish kroner in New York crashed 90 points. In Johannes burg gold mining stocks scared in o big boom following recent aben- donment of the gold standard there.,
 The Berlin Bourse at first re- acted favorably to the Hitler ap- pointment, then sol doff. German bonds in London were depressed moderately. Prices of the Paris Bourse were irregular.
 The best news of local signifi- canoe fo the market was in the railroad division. December re- ports continued to reflect the up' trend as compared with 1881. The first GA roads to report for that month had net operating income of $2S,749,000, against $25,264,0O0 in December, 1881, an increase of 13.7 per cent.
 Gains of a point or so were made by long list of railroad shares, including Atchison, Chesapeake Corporation, Union Pacific, and New York, Ontario and Western. Delaware and Hudson rose nearly 2 points. Canadian Pacific rallied more than point following weak ness last week. Strength in the latter issue was based largely upon another wage reduction for enn- ployes. The cut will bring wages 20 per cent below the base or 10 per cent below the present rate.
 Steel common and preferred is- sues rallied after early weakness. lao AAA the previous close. Other steel operations for the country as n whole were estimated by the maga- zine "steep. at 19 per cent of cap- acity, rise of @ point from the preceding week. Despite recent improvement, the magazine added, "the market situation continues eX- tremely spotty. Strike difficulties in the Detroit area are not con- sidered in this weeks estimate, and 1t is expected they will take q toll in the next compilation, especially in the Cleveland district.
 Fractional gains wero made by American Can, Allied Chemical, Westinghouse Electric, Du Pont, United Aircraft, International Harvester and Case. Special issues like Commercial Investment Trust and Holland Furnace jumped more than point.
 General Motors moved up frac- tlonally when 1t was announced Chevrolet sales were the best since June. Chrysler held around the previous close while Auburn eased slightly. Briggs Mfg was slightly lower on strike difficulties.
 Some of the late buying was by shorts, coveding in advance of the U. s. Steel corporation meeting tomorrow after the close. It is considered practically certain the dividend on steel preferred will be changed. The nature of the change is still in doubt, however, and # a payment of $1 quarterly is ordered 1t is thought 1t would be bullish factor. In some quar- ters, it was said elimination of the payment would bring in buy- ing now withheld by uncertainty. The dividend is cumulative at the rate of $7 annually.
 | WOOL MARKET ... Boston, Jan 30-(UP)-The local daily wool market report issued to- day by the Boston U. S. agriculture department bureau follows:
 "The volume of business in wool Is somewhat smaller than early In January, but sales include more of the grades below 64s which helps to take up some of the slack cre- ated by q slower demand for fine wools. Inquiries are being received on 5ss, eos us well as on 56s and 4Ss, 60s qualities with quotations generally unchanged from last week. The receipts of domestci wool at Boston during the week ending January 2s, estimated by the Boston grain and flour ex- change, amounted to BS9,400 pounds, as compared with 7S4,O0O pounds during the previous week."