Evening star., 1933-12-09
STOCK LIST FIRMS
AFTER HESITATION
Activity in Moderate Bounds,
but Numerous Gains Ap-
proximate Point.
Special Dispatch to The Star,

Special Dispatch to The Star.
NEW YORK, December 9.-AcclImu.
lating evidence of strengthening busi.
ness today overcame Wall Street f1esi-
fancy in following up the stock markets
recent advance. After a period Of re-
action in yesterdays market. the ground
was apparently prepared for q broad
resumption Of the rise In nearly all
groups Of stocks.
There was nothing Of stand-out ma
ture in the overnight news to account
for the markets restored confidence
and strength. The announcement of
a $4,000, 900 pool to take care of dis
tress stocks Of gasoline and crude oil
and the three-for-one split-up in
Humble Oil may have helped the oil
shares. The steels were helped by rail
orders. which are gradually piling up.
Electrical stocks and railway equip
ments probably could see some business
in the fastening of the p w. A. loan
to the Pennsylvania railroad for electri-
fication and improvement projects. But
the r. r. c. gold price remained un-
changed, for the eighth day, at $3401
an ounce. and dollars were not a great
deal weaker.
Irregular at Opening.
At the outset the market was quietly
irregular and appeared to be set for the
usual desultory Saturday performance.
Auburn Automobile was an early fea-
ture. with a run-up of more than
points. Chrysler and General Motors
came in for later attention. Auburn's
action, often a signal for renewed ac-
tivity in the rest Of the market, in
spired resumption of buying which
spread to nearly all parts Of the list.
The declaration of an extra dividend
by Hollinger Gold helped that group.
Rails gained point or so under the
leadership of New York Central. Penn
sylvania and Atchison. Chemicals were
strong. with Allied Chemical up IL
points, and the repeal stocks generally
showed increasing activity at rising
prices. Hazel-Atlas Glass went into
new high ground with a rise of 23z
points. American Can again touched
par, duplicating its recent top price.
All in all, the action of the stocks
appeared to suggest that the financial
district was In mood to cast of the
restraint of such uncertainties as The
monetary policy, regulation of the
stock exchange and the outlook for
increased taxes. This mood is but a
natural response to the continued good
news coming from the business front.
Dividends Favorable.
There has been nothing spectacular.
put the steady flow of dividend resump-
tions, reports Of sizable gains in chain
store sales, and other evidences of
slowly returning belief in a brighter
future are progressively moiding SEN
timent.
Gains were extended all through the
list in the final hour, with activity on
the increase and leading stocks up a
point to two points. Auburn added some
points to its rise and General Motors
and Chrysler were actively bought at
advancing quotations. Rails and the
electrical stocks shared the spotlight
with the motors. The close was around
the best prices of the day and near
the tops of the recent upswing.
Grains recovered part of their losses
OF yesterday, with rise of about / cent.
Silver futures were up % to SIS points
and rubber gained 16 to 81 points. Tin
was up IS points. Government bonds.
which had opened higher, sold on to
close with small losses
Copyright, 1889