Evening star., 1933-10-10
STOCK PRICES EASE
IN QUIET TRADING
Utility Group Is Exception to
Generally Lower Trend
for Day.
Special Dispatch to The Star.

Special DlSpatcn 10 Inc SLar.
NEW YORK, October 10-Stocks.
public utilities excepted. finished lower
today. The volume Of offerings was
light, but demand, aside from that from
professional traders, was negligible.
Public utilities were strong through
out the session. Switching from other
groups, such as metal and motor
shares, explained their strength. This
buying was based on the defeat Of
municipal utility ownership by the
voters Of Birmingham, Ala. The vote
was hailed in utility circles, where it
was pointed out that this was the first
constructive development the utility
shares have enjoyed since mid-Sep-
tember, when they broke badly on a
Government announcement predicting
that cheap" Muscle Shoals power
would be used as a yardstick for rates
throughout the country.
The untitled tonnage statement Of
the United States Steel Corporation,
showing a decline of 114,7O4 tons, was
In line with trade expectations. but it
was used as pretext to sell industrials,
especially the steels.
Lead in Activity.
The most active of the utilities were
Columbia Gas g. Electric, Consolidated
Gas, Public Service of New Jersey and
American Water Works. All were frac-
| tionally higher near the end. North
American Co., United Corporation and
United Gas improvement were up some
what smaller amounts, followed by
Standard Gas & Electric and Duquesne
preferred.
United States Steel common reacted
following publication at midday of the
September untitled tonnage statement.
Gold shares during early dealings
were not responsive to the higher quo
tations in London for the bar metal.
Copper stocks receded as diminished
demand for the red metal caused shad-
ing of prices
United Carbon was the first of the
carbon makers to respond to Boston
dispatches that Carbon Black Export.
Inc, had raised prices IL cents a
pound OF 514 cents. Some slight sales
gains In chemicals stimulated the gen.
eral list
OH shares moved in response to
trade and Washington news, such as
the decrease in domestic crude OUTPUT
last week and the progress made on the
code. The sponsors of Socony-Vacuum
once again used the organized opera
49,. Aoo~ w pUI Up lIlelT 1dVOrltP.
Union Oil Of California was firm in
view OF its unfavorable earning state
ment for the third quarter and the first
nine months Of this year
Penny Shares Rise.
j. c. Penny Co. led the chain shares.
upward following its September sales
report, which revealed a gain Of PAT
per cent over September, 1892 Later
First National Stores, Safeway Stores.
Melville Shoe and Woolworth attracted
bidding.
Nash Motors softened after reporting
| net loss of s430,516 for the September
quarter, which contrasts with S145.469
net loss in the preceding quarter and
| net income of s183,981 in the third
quarter of 1882 General Electric
hardened as the company revealed that
| orders in the September quarter
| amounted to S43733 499 against s35.-
539.858 in the preceding quarter and
s25, ,665.402 in the third quarter of last
year. Westinghouse Electric and Allis
Chalmers, however, were not much
changed though the electrical equip
| ment trade has benefited generally
from recent Government orders.
(Copyright. 1880