The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1933-07-17
Market Struck New
High Ground To-day
In Final Trading
Haven't Touched the Mark They Did This Afternoon
Since I03l-Favorable Business News and
Wage Increases Helped to Boom Up the Stocks
BIZ ELMER G. wArzER
(United Press Financial Editor,

NOuhOGu Eec9 E~sAh 1~Et
New York, July 17-(UP) -
Highly favorable business news,
including wage increases; improv-
ed corporation reports, and q
sharp rise in commodities sent the
stock market into new high
ground since 1891 today with vol
ume over 100000 shares.
A burst OF strength in the alco-
hol division featured throughout
the day on the Curb and Stock
Exchange as the time approached
for four states to vote on repeal.
Gains in this division ranged mp.
ward to points and despite
profit- taking from time to time no
wide recession occurred. New tops
for the year or longer were made
by the entire group, including
American Commercial Alcohol, u.
s. international Alcohol and Ma
tionai Distillers.
Standard Brands, which now II
considered in the wet" group be-
cause one of its subsidiaries made
gin before prohibition, was heavily
traded in huge blocks. It crossed
80 for the first time this year.
A long list Of issues outside the
alcohol ana wet division made
gains ranging to 4 points or more.
These included Western Union, the
rubbers, Auburn Auto, Homestake
Mining, Johns Manville. Baldwin
preferred (the latter rose more
than 10Y, and some of the textiles,
Copper shares were whirled
ahead as prices Of the metal firmed
up abroad and Indications of an.
other advance were looked for In
the domestic market. Farm equip
ments were strong with Case cross
ing 1O1. Oils Joined the upturn
late in the day on outlook for
higher prices. Steels mounted as
trade reviews told Of further gains
in the rate Of operations. Build
ing issues met demand on launch
ing of new building programs. Fur
Their buying came into the ship
building Eroup where New York
shipbuilding made q new high.
Du Pont was wihrled up more
than s points to a new high for
the ear above. The corporation
today resported net income for the
second quarter at So cents, against
81 cents in the corresponding pc
riod of 1882. That corporations
report was among manw favorable
ones coming to light today reflect
ing the Improvement In general
business In progress since ending
Of the bank holiday.
The improvement in corporate
earnings, excellent car loadings re-
ports-C. & 0. reported a gain OF
$40 per cent over 1932--together
with wage increases booyed. senti-
ment. The latter was considered
especially significant since 1t meant
moving Of inventories which have
been piling up in recent weeks.
Railroad shares were strong late
in the day with such issues as
Pennsylvania and New York Gen.
trail in good demand. Atchison held
well despite a dip in it's loadings
in contrast with the majority OF
reports. Southern Railway issues
were strong, the preferred being ur
q points.
United States Steel approached
it, high for the year as reports in.
dicated the corporation had now
emerged from the red" and was
now able to operate at q profit
Other steels followed 1t up with
youngstown Sheet q Tube making
q new high for the year above 105
General Motors was strong in the
automobile division where prices
generally were higher. It gained a
point to new top for the year
Auburn scared to new high also
and others made fair-sized gains.
The grain market ran neck and
neck with the stock exchange with
prices strong all day. Barley
jumped II cents q bushel, while
wheat gained more than 8, corn ]
to more than . and rye . cents
Cotton was up more than 81 a bale
at new tops for the season. Silver
turned up from an early decline
Rubber spurted to new highs. while
sugar futures continued strong.