Show TRADE IS HEAVY ON STOCK MART By ELMER G C. United Press Financial Editor NEW YORK Feb 1 Trading 1 on the stock exchange Saturday was the largest for any Saturday since February 10 1934 when sales were shares Dealings in the first hour of shares were at a rate of shares for a full session and prices mounted early in the day to new highs since 1931 Then profit tak ing irig set in and the list turned 1 ular Transactions continued heavy to the close Volume approximated shares hares compared with shares hares last Saturday Curb sales were shares share compared with shares last Saturday Dow Jones preliminary closing averages showed industrial up railroad off utIlIty utIl- utIl ty Ity off Heaviest trading was in lit the oils and steels which held gains better than other groups Motors turned Irregular after Chrysler hit a new high since 1929 at up s. l' Utilities ties softened and rails slipped back from highs with prices mixed in a narrow range There Thero was no particular pressure exerted on any section and from time to time new demand sent prices up again Some of the more timid traders unloaded utilities in Lear fear of ofa a supreme court decision on TV TVA A Monday that might be adverse to the utilities A few special issues yielded ground rather easily on a afew afew few sales Radio Corporation stocks sagged when the recapitalization plan was announced The common stock lost s1 point and the preferred B more than 2 points Directors of the corporation corporation cor cor- today announced a plan to redeem the preferred A stock and exchange the preferred B for fora a anew new convertible preferred stock vote on the plan on April 7 Stocks and bonds advanced during during dur dur- ing the past Week eek commodities were mixed the dollar dropped and business leveled off seasonally A burst of buying in industrial issues enabled the stock list to close January at the best levels since 1931 Bond averages reached record highs with the exception of the second grade rail average and that touched a new top since 1934 Inflation talk predominated and had an adverse influence on the dollar and some influence on stocks although the behavior of bonds and commodities precluded the inflation argument Traders were elated when the industrial in shares swung into line lino with the railroad and utility issues which had been rising consistently most of the week Gains in industrial stocks on Friday ranged to more than 5 points Most of them were higher on the week with trading active Utility shares were In demand most of the time on outlook for lor higher earnings and belief in some somo quarters that the supreme court courton on Monday might hand down a decision on the Tennessee valley authority act favorable to the utility corn companies Silver shares did little but gold mining stocks were given a whirl early in the week when it ap appeared appeared ap- ap that inflationary legislation might be he resorted to to produce funds to pay the bonus |