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Show SHORTS FARE BADLY ON NEW YORK STOCK EXCHANGE Activity in the Industrial Shares Is Resumed at the Opening; Utah Copper Makes Good Gain. 1 By BROADAN WALL. By International Nows Service. NEW YORK. March ?0. Shorts fared badly in today's stock market. Activity in tho industrial Issues was resumed shortly after the opening. Central Leather Leath-er advanced to Ho? and moved easily. There is a good deal of optimism current on the street regarding this stock and present earnings uppeared to fully justify jus-tify tlio hope that, directors will place the stock on a 4 per cent basis before the year ends. Guggenheim Exploration gained 1J on quiot buying. This holding company, with largo cash assets, Is expected to-ln-crcaso its dividend rate from tho bettor carnlnca shown by subsidiary companies. One of them. Utah Copper, gained nnd sold up to 65B. Copper stocky generally were strong, Amalgamated rising from 75 to 7CE. Tonncsseo Copper, a promising low-priced stock, roso fractionally. "Westlnghousc was strong on a renewal of the buying that started the provlous riso. New trade arrangements are under un-der way Tvhlch should Incroaso future earnings. Industrials generally moved up readily, tho upward impulse flnnlly lifting lift-ing United Slates Btcel from 64 to C5 in Kpito of less favorable reports regarding tho stool trade. Dormant Stock Revives. American Smelters, a stock dormant for fomo time, turned active with an advance from 69s to 71. Colorado Fuel rose to 332 and brokers report a scarcltv of offers of-fers this side of 35. Tho property is commonly referred to as a Roclcefcllor corporation. The shares offer Interesting Interest-ing possibilities. . Coal stocks developed strength. Reading, Read-ing, on trading that exceeded that In any other issue, gained li. Lehigh Valley Val-ley made a further recovery to 147J, while Eric, classed both as a coal road and trunk line, roso from 22$i to 230. ISrIo and Union Pacific preferred were equally strong. 1 Rumors were ngaln current that tho Interstuto commerce commission would grant the long expected rate Increase, and shorts scurried to corcr St. Paul. Northern Pacific. Pennsylvania and New York Central. Advances of a point or moro wero numerous. Union Pacific gained nearly 2. New Haven Active. Now Haven wan active, crossing 70, and Missouri Paclllc gained a point on tho announcement by President Uush that tho short-term notes maturing June 1 would be taken care of. Details, however, how-ever, are vague, as to how this -will bo accomplished. liOnaon prices for Amorlcan shares were considerably lower than our own, but little 'business resulted. Helling was noted In Southern Hallway, Union Pacific, Pa-cific, Steel and Amalgamated. Transactions Trans-actions totaled 12,000 shores. Bonds wore oulctly firm, with strength in the Rock Island collateral 4s nnd an easier tone In tho Chicago, Burlington & Qulncy Joint 4s. Southern Pacific con-"1 vertlblo Os were active and a shado firmer. Continued strength In foreign exchange was the featuro of the money market, bul. no further gold engagements were announced for South America. Preliminary .llgures indicate a fairly good bank statement tomorrow, with a gain of about 51,000,000 In cash. Aggressive bullish operations in the industrial in-dustrial issues arc the mainspring of tho present advance. Short covering gave an appearance of strength to the rails, although al-though the immediate outlook for any Improvement In the transportation business busi-ness is not encouraging. |