The Waterbury Democrat., 1933-08-05
Weekly Review of Market Shows The
 Smallest Of Sales
Doors Are Shut To-day By Recent Exchange Order Alcohol Shares Moved in the Widest Range for the Week and Closed Higher

movers of the week and they closed higher, gains ranging to 9 points. Chemicals were strong and higher. Rails lost to points. Steels, particularly Colorado Fuel & Iron Issues, were lower. The lat ter broke wide open on receiver- ship announcement. Oils, coppers, and special issues sagged of. Util- ities met selling Friday and closed the week lower.
 Sales for the week totaled s. 61O,000 shares. a daily average of 1,722,OO0 shares. In the previous week, the total was 12,345,437 shares, and in the week before that the record for the year was set at 42,329.633 shares.
 The Dow-Jones industrial aver age ranged between 94.84 and 9O.77 in the week, and closed yes- terdya at 92.62 off 1.92 for the week. The rail average closed at 46.77 off 1.04; and utility, 30.7s of O.83.
 Bonds were steady, the Dow Jones average for 40 representa- tive issues closing at S7.91 of 0.32. In the averages of the individual groups which make up that total, a gain of about x points was not ed in high-grade rails, while sec ond grade rails lost more than a point and utilities and industrials were down small fractions.
 Business news was featured by broad acceptance of the blanket code under the national recovery act. The steel and coal industries were exceptions. Wage increases were made by long list of corpo- rations in diverse lines of industry.
 Among the major indices of business, the steel and electricity industries held steady contrary to usual seasonal trend. Car loadings also held we'll at gains over . year ago. Bank clearings< increased; business failures declined.
 The Dun & Bradstreet Weekly Review summarized the situation with regard to trade as follows:
 Neither the oppressiveness of the torrid weather nor the appear ance of a restrained summer re- ccssion in some branches of com mercial activity have been able to develop a strength sufficient to withhold the onward flow of busi- ness to proportions of greater mag nitude. l.. The declines of for mer years at this time are con- spicuous by their absence, giving unquestioned proof of the sturdi- ness which the settled foundation had acquired before the weight of the stupendous improvement of four brief months was thrown up- on it.
 Restriction of trading was caus- ed mainly by uncertainty over the outcome of the MIRA. Traders a1- ticipated smaller returns for cor porations under the workings of the act. Other items of importance bearing on the market lethargy included:
 1. Uncertainty over the imme- diate future of the dollar. In this connection varied reports eman- ated from Washington on imitation. Tho latest was that further dol lar devaluation would not be resorted to during Q trial of the recovery act.
 ?. Increase of margins to 50 accounts up to $5,000; and 30 per cent on $5,o00 or more. That was l expected to eliminate the shce- string operators. Then, too the sx- change clamped down restr4c- tions on pools through forcing them to divuige complete informa- tion to the exchange weekly.
 8. The usual seasonal lull in market operations which accom- panies a failing off in business. Traders anticipated dullness u3ktil late August when another sharp rise was looked for.
 4. Uncertainties of the small traders who were heavy losers in the recent break.