Evening star., 1933-11-08
STOCKS UP PBR|SKLY
IN LATE TRADING
All Groups Close Active and
Strong as Dollar Hits
New Lows.
BY GEORGE t. HUGHES.
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK. November S.-Stocks
today closed active and strong for all
groups.
The morning trading had been desuI-
tory. with prices firm but with inac-
tivlty ruling and only fractional ad-
vances. The market hardened in tho
afternoon and advanced vigorously in
the last hour, closing at the best.
The only reasonable explanation of
the strength was the depreciation of the
Collar, which today established a new
low record both in sterling and in
francs. The same influence was evident-
ly at work in commodities Wheat
opened unimportantly changed, but
closed . to 2% cents bushel higher
Cotton was strong al day, up over 81 so
a bale in midafternoon Silver futures
reacted in the early tracing, but mada
UP the loss quickly and then advanced
80 to 40 points above Mondays close.
All Issues Join Climb.
The buying in stocks at the end took
in not only the commodity issues, such
as the copper and gold shares. but the
railroads and standard industrials. Even
the utilities responded to the new mood
Of the Street.
The first response to the develop
ments since business was suspended
Monday night was singularly feeble
The bringing up to the required num-
Der of the States voting for repeal of
prohibition had no effect on the alcohol
stocks. National Distillers opened over
a point lower and the other issues in
the group were equally Indifferent. or
course, repeal had been so certain that
no ole could have doubted the outcome.
but it was thought that some demon
stration might be staged in the liquor
equities. 1t did not appear. however
The extra dividend on General Motors
announced after the close on Monday
had little effect on the shares. The
stock was UP only fraction during the
first two hours. The only reflection of
the election results was in little bet
ter demand for the local fractions.
Early returns on municipal referendums
as to utility ownership and control did
not show in the market for the power
and light stocks
A. T. & T. Reports Gains.
number of trading favorites regis
tered declines. American Tobacco 'B'
sold OF over point, South Puerto
Rico Sugar was lower and Homestake
Mining opened Is points down from
the last previous sale The market as
a whole, however was firm and the ad-
vances outnumbered the declines Prob
ably that was due to the acute weak
ness in the dollar, although stocks no
longer accept unquestioningly the infia-
tionary developments.
The American unit was weak today
in terms Of both sterling and the franc.
Sterling was quoted at the highest since
the outbreak of the World War and the
franc duplicated its previous high early
in the day. Sterling was up 5N cents,
at s4.941z, and the franc up 9A points
at $751; cents. In London the pound
advanced against the franc.
American Telephone e. Telegraph re-
ported September results from opera
tions up substantially from the same
month q year ago In gross, while the
gain in net ran to more than 100 per
cent The exact figures were $701, $50
in September, 1892. and sl,472,647 In
September, 1888. Directors meet for
dividend action a week from today.
The best showing in the morning
trading today was made by. Interna-
tional Nickel, Patino Mines, General
Electric, Mcintyre Mining. American
Smelling & Refining and United States
Steel common. but In none OF these was
the buying sufficient to put the price
Up more than a fraction.
The market hardened in the after
noon, helped by the strength in COM
modities. The General Motors sales
figures, showing deliveries to consumers
in this country of 63,518 cars in Octo-
Der, against 26,941 cars IN that month
a year ago, was favorably received. All
the metal shares were well bought, in
cluding Dome Mines and Mcintyre
Porcupine. American Telephone did
better in the second half of the session.
Eastman Kodak declared the regular
dividend of rs cents q share on the
common stock Electric output for the
week was up 3.8 per cent over that Of
a year ago.
(Copyright. 1887