The Waterbury Democrat., 1933-02-10
Stock Market Based Off And Dropped
 Some In Afternoon
Railroad Issues Featured the List-TOward the Close
 of the Day Several Stocks Moved Upward
Utilities lost fractions to a

1 weak. Utilities lost fractions tU | point.
 Volume decreased sharply on the decline to-day. That factor was considered favorable. Traders were of the opinion tho list was due for setback after four con- secutive days of advance and with held commitments on the long side. shorts stopped covering. There were several favorable factors and an equal number of fa- vorable ones. Weekly trade reviews leds the latter group. They stated retail business was aided by the cold weather throughout the coun- try. other favorable items includ- ed flrmer prices for steel scrap at Pittsburgh, spurt in January sales of automobiles, improvement in sentiment in the oil industry and a substantial rise for bonds in January.
 The federal reserve system pro- vided two unfavorable items, namely, Il decline of $13,000,000 in monetary gold stocks and . rise of $53, 100000 in money in circula- ton. Offsetting those factors to some extent was a rise of more than S20,000,000 in the systems holdings of United States govern ment securities.
 The U. S. Steel thrilled tonnage statement led the adverse list It registered a decline of G9,496 tons as compared with the total at the end of December, 1932. The ton- mage at the end cf January was at a new low record of 1.S9S,644 tons.
 The street anticipated a moder- ate decline In orders, but today's report registered wider drop than expected. Other unfavorable items | included a decline of 24 per cent in department stor esales for Jan ulary and q reduction in gasoline prices in Boston made by Standard oil company of New York. Two companies reduced dividend ayments-Bucyrus- Erie, on Its preferred on which dividend of | 50 cents was ordered, against $1 the previous payment and $1.75 the quarter before last, and J. I. Case which cut the preferred payment from $7 to $4 annually. Regulars were declared on New York ship | building issues and United Cor poration.
 Bonds were mixed after m early advance. Rails made gains. Tho latter group was helped by word from Philadelphia that DreXcl & Co. and White Weld & Co. have underwritten an extension of m issue of $4,G1G,000 Erie railroad bonds.
 Wheat eased off fractionally and other grains were mixed. Cotton was steady nt small gains The dollar was firmer in terms of near- ly all foreign exchanges. Sales were 720,000 shares, against 1,0s0,000 shares yesterday. Dow-Jones preliminary aver road 29.49 up 0.02; utility 25.45 off 0.43.
 Aggregate value of 10 leading is- sues was $5,230,72s.307, against $5,2sS, 039,205 yesterday, a decline of $57,310.S08.
 WOOL MARKET Boston, Feb 10--(UP)-The lo- cal daily wool market report is- sued to-day by the Boston U. S. Agriculture Department bureau follows: t....
 "Only a scattered demand is be ing received on offerings of Texas wools. Quotations, however, cons tinue about steady. Choice strictly combing wools are firm at 42-44 cents, secured basis. Original baS woos of bulk French combing staple occasionally bring 41-42 cents. secured basis, but there is q slightly weaker tendency on some offerings.
 UNFILLED STEEL ORDERS | New York, Feb 10-(UP)--Un- filled orders of tho United States Steel corporation declined G0,40G tons during January to q now rec- ord low level of 1.S9S,G44 tons
 At the end of December unified orders stood at t,068, 140 tons. Tho previous record low In backlogs was nt tho end Of last July, when unified orders amounted to 1,06G,- 302 tons. A year ago tonnage was 2,G4S.150.
 The normal seasonal movement from December to January iS q gain of 32 per cent In January. | i032. tonnage, however, fell 3.2 per cent. while in January. 103l. ] tonnage increased by 4.S per cent. January tonnage last year drop ped as well as in 1928 and 1927 but in each of tho other seven years since 1921. a gain was roe ported.
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