The Waterbury Democrat., 1934-03-22
by ELMER c. WALLER
United Press Financial Editor

New York, March 20 -(UP)-
The relatively small group Of trad
ers who are actively interested In
the stock market succeeded today
In pushing prices forward in q dull
session.
Stock tickers were barely NOV
ing. The big boys" and the public
maintained indifference to the
market until some of the vexing
problems such as labor and stock
market regulations are clarified.
At the opening, prices sagged.
Trading was dull. Everything re-
fected . the depression In Wall
Street over the motor labor diff
culties, Fletcher-Rayburn bill dis
cussions and q few business deter
rants. At mid-scssion, for no con-
crete reason, prices started a slow
forward movement which brought
prices up fractions TO more than
points near the close.
U. $. Smelling advanced more
than points to above 119. Amer
lean Smelling gained more than a
point to above az. Howe Sound
was almost 2 points stronger at 40
"a. Mcintyre Porcupine advanced
2 points to 40. Dome Mines was
more than a point better at 38 SIS.
Strength was general. U. s. Steel
showed more than point gain
above 81. Dupont added almost n
point. American Telephone gained
point to 118 IL. Motor shares,
weakened In recent sessions by the
strike news. frmed with General
Motors a point higher at 81 and
ChrySler almost q point, higher at
81 "a.
Nope Of solution OF labor prob
lens was reflected in the rail group.
Atchison advanced 2 points to IS
IL. New York Central was up a
point at 80. Others showed frac-
tional gaing. Oils were fractionally
higher as were the utilities.
Wheat recovered early losses ex-
tending to a. cent a busheI and cot
ton recovered oil OF It's so cents q
bale loss.
New York, March 90 - (UP) -
Stocks opened irregular In n frac-
tional range today with dealings
very light. Bonds were dull and
steady. Silver futures eased Q to
30 points, while cotton lost Q to 12
points. The dollar eased toward
its new parity In franc tcrnse
A few issues made small gains.
Public Service Of New Jersey w.s
up nearly q point at 38 3-8. Column
bia Gas was. UP Ia at Is 1-2. Elec-
trio Power and Light held at the
previous close OF z IL.
Union Pacific rallied 1-8 to
124 Sd In firm railroad division.
Gold mining shares made small
gains. Motors were steady to firm
az were mail order shares and
some Of the oils.
Westinghouse electric dipped TO
80 1-2 off 1-2; U. s. steel 40 7-s
off 3-8; International Harvester
40 1-S Off 3-8; u. =. Smelling
ia 5-S off 3-8; American Smelt-
Ing 40 "a off 3-8: United Aircraft
20 off 3-8: National Distiilers
~ "a off 1-2; and Deere e. Co
20 IA off 1-2.
Early prices held around OPEN
ing levels. Trading was dull pend :
ing outcome Of strike threats and
action OF congress on the stock
exchange regulation bill.
Market Bill Attacked
Washington. March 20 - (UP)
- Richard Whitney. president OF
the New York Stock Exchange to.
day called the new securities mar
ket CONTROL bill unavoidable and
destructive"
He told the House Interstate
Commerce Committee. holding
hearings on the compromise sub
stitute for the original Fletcher.
Rayburn bill. that the New York
Exchange opposed the new meas
ure for the same reason II was
against the old bill.
II think this bill Ia unworkab Bile. i"
| whitney said, land will have do
structive effects not only upon
stock exchanges but also upon tho
value OF securities and the bust
ness OF the country. I do not be-
lieve that sound legislation can be
based on the framework OF this
bill"
Specific provisions which Whit.
kncy opposed included those OF