The Waterbury Democrat., 1933-07-18
Market List Turned Upward Late To-day
 With Mines Leading
Repeal Issues Had Been Driven Down From to ls Points, Because of Profit Takfng-The Wei Group Was Very Quiet After That
By ELMER c. WALLER (Unitcd Press Financial Exlitor)

New York, July IS -(UP) - Mining issues scared near the close on the stock exchange today and the whole list turned up in turn over that caused ticksrs to lag be- hind the market. Trading wRs well above the 6,00e,0o0-share feyel.
 The late recovery followed a pe- riod of irregularity in which the repeal issues were driven down I 1 to 13 points from the early highs on deluge of profit-taking after their recent rise. The wet group turned relatively quiet and prices rallied from the lows but most of them closed moderately under the previous close.
 Gold mining issues were bouyant on reports the government soon would lift 1t gold ban and thus make possible formation of free gold market. Gold in London to- day based on a pound at $4.79 1-2 was equivalent to $29.S4 per ounce in American funds. American mines at present cannot realize any more than $20.67 an ounce when selling theim gold to the treasury department, the >on1y market open to them. In q free gold market they would realize the premium on gold made by Q Appreciated dollar.
 In the gold division, Homestake reached 266 up IA, a record high while highs for the year or long, CT were made by Alaska Juneau at 29 7-8 up 5 3-8; Dome 38 up IA; Noranda 35 up 2 1-2 and Mcintyre Porcupine 36 1-2 up 3.
 Heavy demand developed for the coppers near the close. Interna- tional Nickel appeard in huge blocks and ran up to new high for the year above 121. New tops for the year also were made by Anaconda, Phelps Dodge, and American Smelling.
 United States Steel common stock made a new high since 1881 at 67 7-S up 2 5-8 points and other steels moved up sharply. New tops were made by A. M. Byers, Vana- dium, Youngstown Sheet & Tube and McKeesport Tin Plate.
 Numerous special issues were whirled up with Canada Dry Gin ger Ale late feature. That stock gained nearly 10 points to a new top for the year. Among the is- sues to register gains of 9 to more than points were Stewart War ner, Thompson Products, Libby Owens Ford, Ingersoll Rand, Men, gel company and Congoleum Nairn.
 The morning shakeout in the wet issues had been anticipated at thi stime. Traders with large profits took them as the states of Alabama and Arkansas voted on the. repeal question. The issue. were heavily traded from the out set when blocks of 1000 to 30,00O shares appeared, the latter in standard brands, again the active feature of the day. Most of the group made new tops for the year then declined, and regained a sub stantial part of the loss.
 Railroads had period oi strength. on favorable earnings re- ports of leading roads and further increases in car loadings coming in for the week ended last Satur- day.
 Another pickup in steel opera tions with the U. s. Steel corpor- ation at 47 per cent of capacity was reported by Dow. Jones and Company in its Weekly Estimate. The American Metal Market es- timated the present rate of oper- ations at 40,000,000 tons of ingots per year. slightly above 1880 and S8 per cent of the average pro-