The Waterbury Democrat., 1934-11-09
By ELMER c. wALzER United Press Financial Editor)

N
 New York, Nov 9-(UP)--Auto-
 mobile equipment issues, motor
 shares, and building stocks led the
 stock market into higher ground
 today. Activ.+y increased as the
 rise spread to all sections of the
 list.
 Briggs manufacturing was the
 most active issue on the board. It
 rose to a new high for the year at 20 1-8 up I 3-4 points. Electric
 Auto-Lite, Murray corporation,
 Stewart Warner, Hoiudaille, Her
 shey and others of the motor equip
 ment group joined the rise. The
 buying was based on recent esti-
 mates that the automobile indus try's output in 1885 would be around 1880 levels when more than 3,5O0,O00 cars and trucks were
 produced.
 Automobile shares were bid up late in the session. Detroit inter- ests were reported buying General Motors which was active. Crysler also was in demand. Buying spread to the rubber tire shares where gains ranged to more than 2 points. Increased automobile production naturally would boost tire sales. Another factor in the demand for these issues was word that Sears
 Roebuck would raise tire prices to
 conform with recent advances by the manufacturers. Such rise, It was said, would make the advance
 more certain to hold.
 Leadership of the market was not impressive until the late deal ings when the high grade shares of the various groups swung into line. Steel common rose easily at- ter holding around the previous close most of the season. Ameri- can Telephone also met better de- mand as did the better issues Of
 the Railroad and Utility groups. Tobaccos responded to estimates that October cigarette production would far exceed October a year ago. One estimate set the figures at IA per cent above that of year ago. American tobacco D rose
 more than a point and others
 point or so.
 Johns Manville rose more than
 points in strong and active
 building division where American
 Radiator and U. s. Gypsum also
 were in demand. Congoleum
 Nairn made a new 1894 high. The last half hour of trading was reminiscent of markets in boom
 eras. Prices mounted. Quotations
 were abbreviated but despite that
 the tape was still behind the mar
 ket. Large blocks appeared. A long list of stocks made ne" highs for the year or longer, Tn, cluding Eastman Kodak, several
 of the preferred issues in whicn there was investment buying ana some of the inactive common shares.
 Gains in the general market ranged to points but many ln- dividual issues were up more than that. Atchison, Allied Chemical, and U. s. Industrial Alcohol were up 2. to 3 points. Silver issues were up a point or more. Chemlcals were strong as were textiies amusements, and railroad equip ment shares. In the latter group American Car & Foundry pre- ferred jumped, more than 3 points, ad Pullman nearly 2 points. Airplane issues made belated re- sponse to the advertising given avl- ation in the flight of Eddie Ricken-- packer across the country in record time.
 Business news was mostly favor able. Shipments of finished steel by U. 8. steel corporation for october were down 26,000 tons, about in line with exepctations. Car loadings decreased 11,795 cars for the week ended last Saturday which was