Evening star., 1950-01-29
Radio and " Stocks
Rise During Week.;
Other Issues Coast
BY WiIIiom D. Horeon
Associated Press Financial Writer

Associated Press Financial Writer
NEW YORK, Jan. 28.-Radio-
televiSion stocks put on their own
show in the stock market today.
While the balance of the market
puttered along in slightly higher
price ground, radio stocks jumped
as much as two points at one time.
ofit-taking sales Clipped away
at the top gains. but at the final
bell they were still ahead by .
comfortable margin.
The radio group has attracted
strong investment and speculative
support off and on in recent weeks,
principally because of glowing
sales reports on television set sales
and, according to comments by
executives, excellent prospects.
Several such issues are now at or
near their best prices for 1949-5O.
People interested in purchasing
television sets are currently being
treated to the unusual combina-
ton of cut prices and strong de-
mand.
Television makers explain this
retail phenomenon several ways.
New models, for instance, are con-
stantly being brought out and
older sets. consequently, are being
marked down to clear the way for
the new.
Also. set makers claim, television
is a dynamic baby in the new in
dustry field. Manufacturers, look
ing to the future, say they are
trying to pass along to the con-
sumner savings which result from
mass production and greater eff
cheney rather than creating Gus
toner ill-will by charging all that
the traffic will bear.
Set Makers Confident.
The confidence of set makers
was well Illustrated Friday, when
Zenith Radio Corp. announced
that it was giving up an annual
volume of $4,000 900 or more in
auto radios in order to devote it's
production facilities to television
and home radio sets.
Marked up by a point or more
were Emerson Radio at 221A, Phil
co 373s and Motorola 327s. Zenith
moved up 7s to 397s. Radio Corp.
the most active stock, gained frac-
ton at 1873, as did Admiral Corp.
at 23as. Magnavox at 14B and
Avco 6H.
Electric & Musical Industries
Ltd, a low-priced stock which
sometimes gets play, rose IA to 2,
Inc company, operating on a
worldwide basis, has a hand in
the manufacture of radio and tele-
vision sets and household apnli.
ances.
international Telephone & Tele-
graph, which recently branched
out with the purchase of Earns
worth Television &, Radio. has
been a recent fayorite and con-
tlnued to improve today with a
gain of " at 1914.
ChrySler Advances.
Chrysler put on something of a.
surprise performance with a rise
OF "a to 64A. The stock has been
under pressure this week. coinci-
oent with the strike call which
crippled the company's activities.
Inc Chrysler strike, incidentally.
was credited by some observers
with being a factor in the wall
loplng the market took on Wed.
nesday morning.
Also active and higher were Nj
agara Mohawk Power at 223a. Chi.
cago Corp. 14A; Consolidated
Edison, 80: Swift International
IL; Westinghouse. Electric, 31A.
and General Motors, 1914.
SafeWay Stores, helped along bv
333s. ~ S "'
The Associated Press average of
oo stocks advanced 3 of one point
TO 72.9. The industrial eroun
scored the largest gain, with rails
a poor second. Utilities were un-
changed. ~
A total of 857 issues changed
hands. of which 419 advanced and
l76 declined. New highs were
established during the day by 49
issues, while only one hit low
Tor the period. The low was mada
oy Public Service of Indiana a
new issue which was admitted tn
traalng just a few days ago.
sales of 100000 shares COM
pared with $4,000 a week ago
winch was the smallest since No.
Vember 26, last year.