Show STOCK PRIES PRICES I ZOOM UPWARD Ticker Falls Behind Trading as Buying Wave Gains Momentum B By CLAUDE A. A JAGGER JAGGER Associated Press Financial Editor NEW YORK Feb 13 13 Stocks Stock zoomed upward In one of oC the most spectacular rebounds of ot the past mos tw two years Saturday The abrupt upturn which greeted the proposal to increase the flexibility ity iy of the federal reserve system o on Thursday was resumed at a swifter pace a after er yesterdays yesterday's holiday a as buying orders swept into the thc market marke driving the bears into a little Ite pan panic pai all al their own taking Profit taking on the advance which carried m many ny stocks stock 10 to more mor than 20 points above their lows o of last Wednesday was readily ab absorbed ab- ab and closing quotations were near the days day's best although there was some recession in the final deal deal- ings Net gains ranged from about 2 to 15 points The turnover was around shares the largest for a Saturday Saturday Saturday Sat Sat- session in recent months Union Pacific made the extreme upsurge of 18 2 1 points point and closed close cosed up 12 American Amerian Telephone got u up 15 4 4 3 and closed cosed with wih a net gain o of 14 1 Santa Sant Fe rose 12 1212 2 1 an and closed cosed up 9 93 3 U. U S. S Steel closed u up 5 points within a point of the best bes best Miscellaneous issues up 5 to 7 points point included American Amerian Can Allied Alliet Aled Chemical Dupont Westinghouse Electric Consolidated Gas and others others others oth oth- ers Union Carbide and ond General Genera Electric gained more than 3 General General Gen Gen- eral cral Motors advanced but moderately moderate moderate- ly 1 however gaining less than 2 points point The Te ticker fell fel behind trading and it was found necessary to omit th the volume of individual transactions t to keep up with wih transactions for a time The volume fell fel off of in the last few fe minutes however as the list ease eased off from the days day's best prices pries AUTO REPORT HELPS Aside from the widespread ap ap- ap proal of the Glass Glass bill bi to increase increase in in- crease the flex flexibility of the federal federa reserve system voiced over the holiday holi- holi hol day new developments to add impetus im petus to the advance were few The Th Thursday announcement that Ford For Motor company was going into active production once more continued t to tc exercise a favorable influence together together to to- gether with reports of workers bein being called caled back to plants Reports from Youngstown cd ed that steel mill mi production schedules sched ules next week called caled for operations operation at about the current rate of 36 per pe percent percent cent of capacity up one point from a week ago Among earnings statements statements state state- ments ment that of New York Central Cental fo for 1931 showing net of only 49 cents a common share shae against gaist per share shar for 1930 attracted attention but did die not prevent the stock from rising i 5 points point American Can reported ne neof net of 51 a share against for 1930 Commodities again moved up at atmore a amore amore more modest pace than stocks al although although although al- al though cottons cotton's coton's ability to gain 60 t to 80 cents a bale net in the face of a somewhat disappointing January consumption consumption con con- report was viewed as di- di dis dis- encouraging Foreign exchanges g generally e n e ern r a 1 11 1 y turned against the dollar dolar as expected in n. n view of the reported efforts in some speculative quarters abroad t to interpret important banking development developments develop develop- ments ment in this country coutry as bearish on dollar dolar exchange Bankers pointed out that the proposed liberalization of the federal reserve would give i ionly it i only some of the freedom enjoyed by bj bythe bythe the he Bank of France in currency issue Nevertheless franc cables were quoted at 4 4 3 cents cent up 16 13 o of ofa a point from Thursday Sterling gained 1 8 15 8 5 cents from Thursday ruling at 35 for cables |