Evening star., 1933-10-04
STOCKS END DAY
AT HIGHER LEVELS
Finish Just Below Peak.
Reach Near Start of
Final Hour.
By GEORGE T. HUGHES.

Special Dizpetch to The Star.
NEW YORK, October 4-The stock
market finished higher today, though
slightly under the peak attained just
before the final hour, with volume Of
transactions about double that of the
preceding Gay.
Advances in grains and cotton and
numerous favorable domestic and inter
national developments, such as trade
reports, the FTanco-Germ2n trade treaty
amendment, and strength in the dollar
forced early shcrt covering in stocks.
Less insistent market orders" on
the buying side rather than increased
supplies cf stocks accounted for the
slight recession from the midafternoon
peak. One of the outstanding features
in the forenoon was the difficulty in
obtaining stocks near bid prices. A
feature in the afternoon was the eXecu-
tion Of bids for sizable blocks, pre-
sumably representing short covering,
S.cels Score Good Gains.
United States Steel. Bethlehem Steel
and American Can scored God fins.
Yves irghcu-n Elect;i" v-cs dcwl rathor
sharp'v Tie General F'cctric sd-
vcrced- = --dard OIL CT 1!-w J"rs7-'.
soncwhct less active in late deGlir7s.
managed to maintain it. forward m9Ya-
ment Farm implement issues. usually
hal boring a short interest. quickly mir
rored the covering movement long be-
fore grains rose.
Union Pacific which was reported
difficult to buy in the forenoon, ran Up
D,5k1l of
Jersey and American WaterWorks were
good gamers in the final hour.
Neither the lowered price of gold nor
the strength Of the dollar-the later
being due to LOndon't purchases of con-
tinenta, offerings. rs it needs dollars
to pay fer imports at this season-pre-
vented gold shares from pointing up
wards. Homes. axe Mining Cpened neat
its previous peak. as directors O-de1e1
the regular 81 mo1-h'y dividend frd
the usual 81 extra monthly.
American Smelling continued its rise,
based on the payment Of per cert
preferred dividend. Though eE-dividend
today. United States Smelling sur?ed
ahead. Pending copper cere'ocmerts.
rather than silver prizes. which Wers
lower. helped the movement in Ce-ro
De Pasco.
American Telephone responded 70
two bits of news. Chicago Telephcna
installations in September cxceeGaI
disconnections by 5,669 and New YORK
last month had a net gain of 9,913
stations, compared with a loss of 11.167
telephones in the same month year
ago.
North American Up.
North American Co stiff fcned On tbs
announcement that for the first tirns
in four years the electric output of ths
company's subsidiaries showed a gain
in the third quarter over that of the
second quarter. Utility executives were
inclined to interpret the gain in elec-
trical output last Weel, over the pre-
ceding week as encouraging in view
Of the fact that strikes in scattered
sections of the country had lowered in
dustrial production
Alcohol securities quickly mirror6I
VEginia's favorable vote on repeal
Chem cal issues, especially Allied Chem
ical, Dupont. Commercial Solvents
Union Carbide, Columbia Carbon. ard
Air Reduction, surged forward. Though
trade reports for the week indicat 4
decreased purchases b. the heavier ir.
Gus:ries. Rumor5 that alkali pri,
would be higher on contracts about 20
BE- signed were partly responsible for
the buying of chemicals
tCopyright. 1933D