The Waterbury Democrat., 1934-03-16
Pressure Was Lifted On The Auto Industry
Reports Say Strenuous Efforts Are Being Made By
 Both Sides to Straighten Out Dispute

New York, Mar. 16-(UP)-A slow recovery came into the stocA market today after three days ot decline. Volume, however, contin- ued light with sales only slightly over the million-dollar mark.
 Pressure lifted on the automo- bile issues when it was learned strenuous efforts would be made to avert a strike in the industry. Chrysler rose more than a point and others of the group were up fractions to a point from. the pre- vious close.
 Railroad issues were steadied by a favorable car 1oadings report brought about by sharp jump in miscellaneous freight loadings. The loadigns total for the week ended last Saturday was at new high for the year at 612,402 cars, gain of 8,265 over the preceding week. The gain was larger than season. al.
 Exceptions to the trend in the rail division were the Van Swer- ingen issues, notably those of AL leghany Corporation. The latter lost a point or more on announce ment of the corporations plan to raise interest for the per cent bonds due in 1850. The plan is to issue new preferred stock of the amount of the interest on the is- sue from October l, 1884 to April l, 1899.
 Holders of the bonds can turn in the 10 interest coupons for that period and receive 5 shares of the new stock. That would make the stock cost them $5 share. The new issue was quoted on the produce exchange at 27 bid with the nearest offer at 32. Silver issues rallied after their sharp break yesterday. The reverS- al of the trend was aidde by a statement by Speaker Rainey of l the house that he would force vote on two silver bills on Monday. U. S. Smelling advanced more than 3 points and others of the group were bid up fractions to point Aviation issues were given D bit of a whirl when Col Lindbergh told a senate committee army planes could not be equipped as fully as commercial planes; and that air lines need temporary subsidy. Douglas advanced more than a point and United Aircraft q point. | Schenley continued to lead the "wet" stocks, rising points on it's Cuban liquor distribution. Zonite products continued active and strong on its rights to distribute Russian wines and spirits. National Disitllers was fairly active and firm.
 | Mercantile issues made small gains on improvement noted in re- tail trade. Estimates released to-. day said business of the important chain store and mail order houses will present some sensational ad- vances for the current month.
 Bonds firmed late in the day af- ter early irregularity. Grains rose small amounts; silver jumped 26 ot 40 points; rubber declined IF to g points; silk rose 1 to 1 1-2 cents a pound; copper futures firmed 8 few points. Cotton future were few points lower.
 New York, / Farch 16-UP)- Stocks opened lower today and continued to decline in early trad ing. Volume was relatively heavy.
 Silver futures broke 15 to 30 points after yesterdays decline of 145. to ITO points. Cotton declined 2 to 12 points. Bonds were lower.
 Silver stocks were steadier. U. S. Smelling which broke 8 5-8 points yesterday, firem a quarter on the first sale of 119. American Smelling dipped 1-2 to 43. Cerro de Pasco eased IA to 34. l U. $. Steel opened at 52 off 5-S, and later broke below 52. Western Union opened at 55 off |; Du Pont 59 3-4, off 7-S; Atchison 66 Is. off 5-S; American Telephone 118 1-i, off 1 IA; Auburn Auto 53, off 7-8. General Motors opened 2.000 shares at 36 7-S, off 1-2. Chrysler on a block of 1000 shares was down 3-S, at 52 IA. Both these issues sagged further in subsequent transactions on strike fears.
 Utilities were off fractionally as were oils. aviation issues, farm equipments, and some of the spe- cial issues. Gold mining issues were steady to firm with Mcintyre Porcupine up IA at 43 IA. Ameri- can Can firmed >1-2 point to 100 1-2.
 The list steadied and turned dull after a dip following the opening decline.