Evening star., 1933-08-03
STOCKS TEND UP
ASSESS|ON CLOSES
TRANSACTIONS ON The NEW YORK STOCK EXCHANGE Y!QS
Most Shares Show Small
Cains-Auor Group
Spurts Near End. =
Special Dispatch to The Star.

special Dispatch TO The BCo1.
NEW YORK, August "a majority
Of the net changes in today's stock
market were on the side Of advance.
but none of them was large or I'M
portant
Practically all Of the time the market
moved as sedately and uninteyeS0nely
as the sternest Of its senatorial critics
could wish.
Toward the close there was q hurrA
in the liquor stocks, with National Dis
tillerS Products the leader and at in
tervals buying was in evidence In the
stocks supposed to benefit from the con-
struction program of the Government,
but volume did not run much abovaS
1000 600 shares for the whole session.
Gold Cut Rumored.
In the late afternoon rumors were
afioat as to the intentions of the ad-
ministration with regard to cutting the
gold content of the dollar. The stock
market was uninf1uenced by them.
Wheat closed fractionally higher after
a day of uncertain fluctuations.
Prices were up fractionally at the
opening, but the gains were not held
and irregularity prevailed throughout
the first few hours. The rally in the
late trading of the day before was
based on reports from Washington that
new and radical inflationary measures
were to be adopted almost Immediately
Overnight reflection on this story did
much to discredit it. In any case il
was not factor at the start today.
The gold shares, which had been sc
strong Wednesday, held only a part oil
the gains made then. On the other
hand they did not react far The price
Of gold in London was higher and Con-
tinental bidders took al offerings q.
premium. Responding to the latest. II.
flation rumors, scerii2g >cscc.c.1aIre openxi
at an advance Of 574 cents, with al
European gold currencies strong in
sympathy, and yet these advances were
not held. All the markets were in as
much doubt as ever as to the real inten.
tionS of the administration.
Interest was taken in the new regula-
tions with regard to margins promul'
gated on the Stock Exchange The gen.
the right direction, although most
houses had been requiring as much pro-
lection for speculative accounts for q
long time
Commodities Mixed.
Among the relatively strong features
were Chrysler, International Nickel,
Montsanto Chemical and Allied Chem
ical. Corn Products was another indus
trial in favor. The liquor stocks were
given a rest. Perhaps speculation in
them, which has been as extravagant as
anywhere else in the list, was toned
down in accord with the spirit of the
new rules. United States Steel COM
mon was heavy and General Motors
dragged. Railroad stocks were neglected.
Commodity markets moved as uncer.
talnly as stocks. Wheat in Chicago re-
acted over cent bushel, but support
was attracted after the decline and it
came back partly. Cotton was lower also
during the morning. On the other hand
silver futures were strong and rubber
was firm. Sugar advanced briskly.
The stock market paid little heed to
the recommendations of the Governor of
New York for special legislation to aid
In bringing about lower rates for gas
and electric service Utility stocks did
not share to any great extent in the
advance which eliminated last month
and were more or less prepared for such
a development.
Copyright. 1881