Evening star., 1933-10-11
STOCK PRICES UP
|UNEvENLYAT CLOSE
Utilities and Rails Assume
Leadership in Quiet
Trading.
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK. October 1.-THE stock
market finished irregularly higher to-
day under the leadership of rails and
utilities. Volume, however, was light
and the general professional character
of trading was typical of pre-holiday
sessions.
Power and light issues throughout the
day resisted the downward tendency
that marked transactions in rails and
industrials up to the last hour.
Cotton near the finish was higher
than around midday, but the main
grains were down fractionally despite
the bullish Government report made
public after yesterdays close.
Although rails were making the best
upward showing as the market ended,
headed by Atchison, Baltimore & Ohio,
Chesapeake & Ohio, Delaware & Hud-
son, New York Central, Union Pacific
and Lackawanna, the utilities had
ranged from steady to firm throughout
the five hours.
Dollar Is Firm.
Public Service of New Jersey. Brook
lyn Union Gas, Columbia Gas e. Elec-
trio and North American Co. were
higher in the final trading. American
Telephone was down about a point.
United states Steel eased. General Mo
tors firmed, while Chrysler receded.
The dollar was firm in foreign finan-
cial circles The Street was interested
in the report that a portion OF the
fourth Liberty 414s might be called at
pm. today.
Gold shares. under the leadership OF
Homestake Mining, slid off easily Ill
initial transactions. transmitting that
trend to the rest of the metal list. The
softening tendencies were aided by
lowered metal quotations. but not by
specific corporate news. CRANKY Con-
solidated Mining, for instances, reported
a net loss of S31.410 for the quarter
compared with $155, 1862 net loss in the
same period year ago.
Continental Can was not at once
responsive to the increase in the COM
mon dividend rate from 81 to $50 a
wear. as that action had been somewhat
discounted several sessions ago. Inc
statement that the concerns dollar
sales in September were 10 per cent
ahead of the same month in 1882 en-
couraged the sponsors of Continental
competitor, American Can, to run IN
few shorts.
F. w. Woolworth ignored the regular
common quarterly dividend declaratlon
OF 6O cents, Us quarterly SAFES Ildu ~!
cast this. Store securities were neglected
despite favorable sales statistics. Man
order shares moved unevenly.
Construction List Up.
The announcement of fund allot-
ments for 27 non-Federal projects in
19 States today by Public Works Ad-
ministrator Ickes was followed by brisk
bidding up of handful of construction
material shares, such as Johns-Man-
vile. American Radiator and 1nterna-
tional Cement.
Lessened switching from other group
into public utilities rather than new
developments or enlarged offerings va
responsible for the recession of powe
and light securities. The decline IN
power output reported from that of
week ago was contrary to the seasonal
trend OF four out of the last five year
and reflected the effect of strikes CT
industrial current use. ConsumptiO~
however, remained above the corr
spending week of 1882
Improvement in the bank loans OF
various public utility holding and oper-
ating companies added modicum Of
steadiness marketwise.
(Copyright. 1889