Show TAX PROPOSALS BOOST SHARES BY ELMER C C. WALTER United Press Financial Editor NEW V YORK March a Wall 3 Wall Wallstreet street expressed Its favorable re reaction reaction re- re action to President Roosevelt's proposal proposal pro pro- to tax corporate surpluses by bidding industrial shares s to new highs since 1931 Automobile issues led the rise General Motors crossing 62 for forthe he the first time since 1929 Chrysler approached the mark Stude- Stude baker and Hudson made nado new highs highs' Nash fash was in demand at fractionally higher prices Motor equipments Iso also were In demand with several of f them in new high ground for the year fear or longer Steel shares rose under the lead of f United States Steel which made its ts best price since 1933 Sugars farm arm equipments some of the alcohols alcohols alco alco- hols mercantile shares and building Issues were In demand at rising prices Rails resumed their advance with Union Pacific at one time up more than 2 points American Telephone Telephone Tele Tele- phone led a rise in the Utilities were firm at small advances jumped more than 2 points to head a rise In the aviation division The stock market paid attention only to the presidents president's recommendations for spreading corporate surpluses surpluses sur sur- pluses by imposing largo large tax penalties penal penal- ties les That method the street believed be- be would make the yield on stocks more attractive Traders selected Issues apt to have large surplus distributions inthe in itt the present year as well as those which already have large surpluses such as United States Steel and American Telephone General Motors Motors Mo Mo- tors was bought on the theory it would declare handsome dividends in line with its past policy together with the Impetus of the surplus tax threat Du Pont the largest General General Gen Gen- eral Motors stockholder was bid up nearly 3 points to a now high Owens Illinois Glass soared 8 points to a new top at Owens LIbby Glass reached a new top at 60 38 8 up 1 1 1 Radio Corporation was bid up to 13 8 3 up 1 14 on on unconfirmed reports it would takeover take tako over Postal Telegraph Radio pre preferred pre pre- forced B stock jumped more than points |