Evening star., 1937-07-25
Come to Life in Heavy Trad.
ing as Fears of New
Laws Ease.
.CHRYSLER AT NEW HIGH
WITH ADVANCE OF 2Na
Favorable Profits, Despite Rising
Expenses and Falling Rates,
Also Aid Power Issues.
WHAT STOCKS DID
Total issues
BY FREDERICK GARDNER,
Associated Press Financial Writer


Associated Press Financial Writer
NEW YORK, July 24-Utilities ran
away with today's brief stock market
session, coming to life in large volume
for gains OF fractions to a point or
more.
Fifteen minutes before the close
power and light company issues were
all over the ticker tape and the MOTOR
ity finished at the best levels Of the
session.
Chrysler hit a comparatively fast
upward pace at the start following the
better than expected earnings state
ment. together with a more generous
dividend than had been looked for.
The issue ended up 27s points at
1885,. new high for the move.
Squirting the utility section, brokers
said, were revived hopes Of an early
adjournment of Congress and lessen-
ing Of fears further regulatory laws
would be demanded for these cor
porations. In addition ability Of the
power contingent to show favorable
profits in the face Of rising expenses
and falling rates was said to have
attracted buyers.
Volume Totals 5O5.790.
The turnover was the best for any
Saturday since May !, transfers total
ing 50579 shares. A week ago the
aggregate was 24S,340. The As
sociated Press average OF so stocks
advanced 6 of point to 7ol.
Prominent on the forward tilt we're
Commonwealth Il Southern at 3ls,
the fastest mover of the day: United
Corp. 6A., Columbia Gas l5ls Electric
Power & Light 23a., American IL
Foreign Power l0as. North American
29as, American Power & Light l2,
American Water Works 2l7s, National
Power L. Light 1lss. Consolidated
Edison Al and Standard Gas 97s.
Steels tripped over profit selling for
a while, but came back with the rest
on the last lap. Up as much as
point or 50 we're U. S. Steel at ll7's
Bethlehem s5ia and Republic 3el2.
Others on the push were General
Motors, 5634 Westinghouse, 1856;
Santa Fe. 84l2: New York Central
42L; Anaconda. 5734 Du Pont, 1854;
American Radiator. 22as, and Allis
Chalmers, 697s.
Corporate Bonds Ease.
Secondary rail liens and some utili-
ties and industrials showed tendency
to give ground in quiet bond mar
ket
Government obligations were steady
on small turnover Transactions to-
tailed approximately s23o,OOO
International Hydro Electric SIS ad-
vanced Il to 83. while Utilities Power
Il Light SIS slid down a point to 52l2.
Consolidated Edison 31.s and North
American SIS gave up minor fractions.
The Associated Press averages for 10
utilities showed them unchanged at
981.
In the rail category, st. Paul SIS
lost q fraction to 2434 and st. Louis
e. San Francisco AIS dropped y to
2312.
Also pointing lower were Southern
Railway As. Reading AIS, New York
Central 3a4s, Missouri Pacific IS, H.
linois Central 4a4s and Great North
ern AIS. The averages for 90 rails
were unchanged at 92.s.
Transactions for all bonds totaled
81, 732,500, face value, compared with
s2,324,ooo the previous Saturday.
Curb Utilities Improve.
On substantially improved volume
for short session, utility shares came
forward to score gains of fractions
to nearly two points In curb market
dealings.
Traders have favored these issues
most OF the week because, it is be-
lieved, impending adverse utility leg
islation may be sidetracked for the
time being by congressional adjourn
ment.
1ndustrials and oils held fairly even,
with small gains showing in MANY
parts Of the list.
Electric Bond & Share advanced
1ss to 2l5s and American Gas a.
Electric ended at SO, up IN. Niagara
Hudson Power. United Gas and Ameri.
can Superpower we're fractionally
better. Gulf Oil dropped u to S.
while Humble Oil was UNCHANGED At
s4A. ~'
Volume totaled 100 900 shares. COM
pared with last Saturdays transfers
Of $4,000.