Evening star., 1933-10-07
STOCKS END WEEK
UNEvENLY HIGHER
Fractional Gains Recorded,
With Close at Best Levels
of Day.
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, october THE Stock
Market finished irregularly higher in
todays short and dull session. Frac-
tional gains occurred in some of the
leading issues and secondary stocks,
| with the close around the best levels
Of the day.
The Presidential announcement of
commodity corporation formed for
the purpose Of lifting prices, the prog
ress being made in reorganizing closed
banks. the Administrations plea to la
Dor to refrain from checking national
recovery and the conference Of steel
executives were the more important
market factors emanating from Wash
ington today
The dollar strengthened in some
leading overseas financial centers but
was net much changed in other mar
kets. Gold and silver were lower The
principal commodities opened higher.
relapsed. then staged late rally.
u. s. Steel Common Up.
Local traction stocks were one Of the
strongest spots throughout the session,
presumably on renewed talk of fare in
creases. Specialties advanced rapidly
near the end. United States Steel COM
mon near the end was up fractionally.
as were Montgomery Ward, Allied
Chemical, New York Central, Chrysler
Corporation, Baltimore &, Ohio, and
United Aircraft.
Gold shares moved narrowly, as the
London open market price of the bar
! metal was lowered today. Red metal
shares pointed upwards. American
this movement but United States Smelt-
ing & Refining was higher
The commodity group generally sought
higher levels in the first half of the
session in response to the initial gains
in most Of the important commodities.
Ehis reversal Of trend from the pre-
ceding day resulted from President
Roosevelts announcement of the forma-
ton of commodity corporation for the
purpose Of lifting raw material quota
tions.
Construction securities. such as Johns
Manville, American Radiator, General
Electric and Westinghouse Electric, were
pushed forward on the progress of the
public works program and the Septem-
Der statistics showing sharp gain in
| new building in New York.
Motors Are Active.
General Motors and Chrysler were
| turned over in volume at rising prices
The former company will announce its
September sales at noon Monday, while
the latter has released most of the
information pertaining to its trade las.
month The rest Of the motor lis:
moved narrowly. with gains and losses
about equally divided.
Steel issues generally were helped BY
President Roosevelt's appeal to labor
to refrain from hindering the progress
| Of national recovery. September sta
tistics on ingot output were lower than
August figures but much above those
Of the same month a year ago The
Street has more or less discounted an
expected decline in untitled tonnage
| which will be reported by u S. Steel
Tuesday.
Industrial Rayon registered the widest
| advance in the rayon group, as Cleve-
land dispatches reported nine months
| net profit of 81, 1,258,033, against a net
loss Of $210,928 in the same period CO
1882. Celanese Corporation encountered
some profit-taking in the final half hour
National Distillers headed the alco-
hol division, with United States Indus
trial Alcohol close second, followed by
Schenley Distilling National Distil-
lers was bid up on the proposed three
for-one split announced late Friday
Ovens Illinois Bottle and Commercial
Solvents later were taken at higher
: levels.
Reading Co. responded to its gain in
September loadings. Union Pacific then
forged ahead. Pennsylvania was vir-
tually unchanged. Southern Railway,
Southern Pacific and New York Central
added fractions to their previous final
prices.
(Copyright. 1873