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Show UTILITY SHARES HIT NEW HIGHS NEW YORK, Feb. 6 (V.?.) Utility Uti-lity shares advanced to new highs since 1937 in the average today in response to arrangements arrange-ments for sale of Tennessee electric el-ectric Power company to the TVA at a piice which would leave some equity for the common com-mon stock. The utilities monopolized the tape. Tennessee Electric preferred prefer-red coared nearly 14 points on the curb and stocks of other subsidiaries of Commonwealth & Southern made wide gains, notably not-ably Alabama Power issues. Common utility stocks had gains ranging to more than a point while preferreds were up 1 to more than 7. Utility bonds were strong. U.S. governments held firm. Foreign loans were steady. Business news generally was favorable. |