The Waterbury Democrat., 1934-11-08
By ELMER c. WALZER Limited Press Financial EditOr)

 New York, Nov S-(UP(-A cab inet crisis in France, reversal of untrend in commodities, and nor nal profit-taking after rally combined against the stock market today. Prices turned irregular and volume fell under yesterday.
 Experts said the market behav- ed very well. Losses where they oc- cured were small except in few instances where prices had been carried too high in recent dealings. A feature was the improvement in leadership. United States steel, which had heavy dealings. The cor poration is reported making gains in volume of. production.
 Gains in Volume of production thanks to automobile orders and demand for it increased so that it had the heaviest transactions of the day. General Motors was sec ond and American Radiator third.
 There was still heavy trading ln the ~"cats and dogs" Kelly Spring field for which receivership was asked in Jersey City today, was among the most active stocks. It rose O-4 punt lO anu AASNO NA fair share of the gain. Chrysler lost nearly, point. General Motors was steadier on it's october sales report which showed total sales at 72,050 units, against 71,SS8 in September, and 53,045 in october, 1893.
 Several issues made new highs for the year or longer at various times during the day. These in- cluded American Smelling 6 per cent preferred, Caterpillar Trac- tor, Eastman Kodak, Continental Can, Leggett and Myers B, Wesson Oil and Snowdrift, and McKess- port Tin Plate.
 Utilities eased on the trend in some municipalities toward muni- cipal ownership of power and gas plants. Wet stocks were fairly ac- tive with prices mixed. U. 5. In dustrial held one-point gain. Rails were irregular. Union Pacific was steadied by declara- ton of the regular $1.50 quarterly | dividend. New York Central Pennsylvania, Atchinson and Bal | timore and Ohio eased fracSonally | Oils were steady to firm. Chem icals held gains in most instances Amusements held. well on improved movie attendance. Investors bought several of the preferred issues, in. cluding National Biscuit preferred which touched 142 up 3 3-4 points Sales today approximated S4O,O0' shares against 1,110,000 shares yes l terday. Curb sales were 163,OO' shares against 199,000 shares yes 1 terday. | Down Jones preliminary closins averages showed industrial 97.2' l off 0.3O, railroad 35.4S off O.41
 utility 1853 off 0.26.
 Cotton Shortage
 | Washington, Nov. S.-OP)- lCurtailed by law and drought, this years cotton crop will total only of 9,634,000 bales, the Department of Agriculture estimated today. The indicated production, small est since 1899 with one exception compares to 1893 and 1892 crop: of 13,047,0 and 13,001,000 bales I.respectively.
 Average of 1893 pounds of cot | ton per acre has been or will bt yielded by the 27,241,000 acres tt be harvested. The department es timated.
 At the same time, the census bu reau reported that 7,920,231 bale' I had been ginned from the 1934 crop prior to Nov. 1 compared tt 1O.355,03 ginned from the 193: crop prior to the correspondinG date year ago and 9,247,045 bales for 1882.
 The last official cotton estimate based on conditions as of Oct. ]
 placed production at 9,443,0 ,00t
 bales and yield per acre at 165. pounds.