Show hb i s b Mining Financial and Commercial News STOCKS CLOE BRISK UPTURN Bulls Stir Up Fresh Enthusiasm for Public Utility Shares By Iy CLAUDE A it Associated Pre Financial Editor NEW YORK March 7 P Thc The ended a week of sharp declines Saturday with a brisk upturn upturn up up- turn and bears took their profits and bulls generated d a a fresh current of or enthusiasm in the electric power issues The market again agIn reflected little save rave the churning about of prices by professional traders The weekend week end brought a distinctly encouraging ing ng new item however reporting that steel mill activity in the area next week will be beback beback back to 50 per cent of capacity af after atter at- at ter down a couple of points from that level this week Stocks closed 1 to more than 5 points higher The persistent bullish activity In Inthe Inthe the utility shares this week week- even In Inthe the face of unfavorable market conditions con con- apparently reflects determination nation on the par part of utility Inters interests inter Inter- ests s to make hay while the sun chines arid tic the sun shines for them primarily with congress out of ses ses- ses sion Various projects involving mergers and nd financing for completion before the thc legislators again convene CLIMBS TWO VO POINTS United Corp the Morgan Bon bright issue was pushed up 2 points in heavy trading American Water WaterWorks Works Public Service of N. N J. J and Standard Gas made similar gains and International Telephone and American and Foreign Power were sent up 3 points Several issues in including in- in eluding Consolidated Gas and Electric Elec Elec- Ic ft-Ic J ower Light gained a point or more Although this has been a week of much unpleasant dividend and corporate cor cor- earnings news at least two reports published today were regarded re regarded re- re as distinctly satisfactory Keith Radio rose 2 points In re response re- re spouse to Its ts 1930 reports report showing net income more than twice that oi of 1929 Of course 1923 was its first full year and organization costs had to bo be met meL J. J I I. I Case despite the agricultural situation was able to show a share and the stock rose 2 points Trading was in large volume in inthe inthe the last half hail hour as repurchasing by shorts became rather urgent Transactions Transaction for the two hour ses session ses- ses sion sian aggregated High fliers were Atchison and Allied Chemical up about 6 points Miscellaneous shares thares up 2 to 3 or more nore included U. U S. S Steel American Can Johns Manville New York Central Electric Eastman and New York Central DuPont gained 4 AMUSEMENTS UP The amusement shares were pulled up by Radio Columbia rose to a new high forthe for forthe the year and Radio Corp Fox Warner War War- ncr ner Bros and Loews Loew's gained a point or more Chrysler was vas a firm feature of the motors selling ip tipa a point to a new high fort for 1931 Vague reports were heard that the company would announce announce an an- an important development later In the year While no information mation as to what t was all aU about was available It was said in one quarter close to the company that the announcement would not ap appear ap- ap pear for or two or three months The market was able to Ignore further reductions In crude oil and gasoline prices and a little shading of copper metal prices apparently by speculative Interests Coppers and oils however were sluggish Week end trade reviews were conservative con con- little tangible and reported change although the mercantile agencies indicated that merchants merchants' stocks are lower than ever and considerable con con- urgent reordering is still being felt by jobbers |