The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1933-07-06
Market Leaped High
When News Arrived
Roosevelt Had Won
Stocks Jumped Sharply Under the Lead Of Rails =
Corn Leaped Cents Bushel and All the Othef
Grains Were in Line
BY ELMER C. wALzER
'(rnitctl Press Financial EditOr)

BY EIsMER c. WALLER
'(rnitcd Press Financial EditOrl
New York, July e--(UPl-De-
cision to continue the world econ
omlc conference was favorably re-
fiected today In American markets.
stocks rose sharply under lead Of
rails; corn jumped more than 2
cents bushel and other grains
followed; cotton rallied from an
carly decline: silver futures rose a
half cent. The American dollar re-
sumed It's decline.
During the early part OF the ses-
sion when the life Of the confer
encc was In doubt, tho market
moved crraticaliy. Heavy proht
came into various sections OF
the list. Then the rails turned
up on indications OF higher car
loadings and outlook that many
roads would earn their nxed
charges In the first half OF the
year.
ia.7 per cent over 1892 In the
country's electricity output. Auto
mobile shares made now highs on
favorable reports including one
from Chevrolet which registered an
increase OF more than 100 per
cent In Juno as compared with
juno, 1889, and one from REQ
showing, June output at 1880 units,
against 7l2 In June, 1882,
There were many other indica.
tions of business improvement.
Bank ciearings for the week ended
July were s.6 per cent above a
year ago; business failures for the
past week were the lowest since
october, 1929; the Bradstreet week.
" food index advanced to $i.96, tho
highest level since December, 2S,
1881; several companies In New
York increased cement prices fol-
lowing advances In copper, steel,
and oil prices; the employment In
dex In Detroit on June 80 was ut
60 compared with 62.5 on May 81
and 72,2 on June 80, 1892.
The railroad group made the
most consistent gains. New highs
were made by such issues of New
York Central, Pennsylvania, New
Haven, Southern Railroad, South
ern Pacific, Iilionis Central, Lack
awana, Delaware q Hudson, Atch.
ison, and Central OF New Jersey.
The latter gained 10 points; the
others / to 4 points.
Farm equipments shot upward
late In the day a. the grain mar.
ket scared upward. j. ]. Case made
nearly Q points and new high.
Deere q Co. Ailis Chalmers, and
International Harvester also made
substantial gains. Mall order shares
were bid up.
United States Steel crossed to o.
and into new high territory since
1891, Just before tho close and
other steels followed II upward. In
ternational Shoe led q rise In It's
division, All the tobaccos were
strong at gains Of to more than
3 points.
Oils were In demand through
out the session on increased gas
oiine and crude oil prices. Many OF
the oils including Standard OF Now
Jersey, Standard Of California,
Texas Corporation, Continental and
Consolidated, made new tops for
the year or longer. Nr
Utilities were featured by broad
gains In Consolidated Gas and
heavy turnover in Columbia gas.
American Telephone approached its
high In the communications whore
Western Union also was In de-.
mand.
General Motors rose a. point to
O new top and good gains were
noted In other sections OF the au-
tomobile group. The wet" group
was, less conspicuous than recently
at small gains. Johns Manville was
up moro thar, g points In strong
building group. S1&e'ity Uhenix
was up nearly g points In the In
surance division. Copper shares
were steady to Arm. Many special
issues were In demand.
Sterling shot up. to $4.b6, a rise
Of Q cents and q new high since
England abandoned gold.
stocks developed tremendous ac-
tiyity near the close and tickers
Sans until SAT- to catch up. Most
Of them closed around the highs Of
TIA DIV FI r.. ',tN M