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G IN AIR RAFTS PUSHES STOCKS TO HIGHER LEVELS POINT 6 GAINS MADE BY SOME v By VICTOR EUBANK Associated Press Financial Editor Editor NEW YORK YORK Nov 7 Early 7 Early buyIng buying buying buy buy- ing in aircrafts spread to steels motors and other pivotal stocks in Mondays Monday's market pushing a number to new highs for the te move with gains of fractions to 3 points gen- gen There were a few upturns upturn of 5 and 6 Further brightening of the business busi busi- ness nes horizon brokers said more than offset potential market repercussions repercussions reper reper- from Tuesdays Tuesday's elections and the forenoon t tendency of somo some somo traders to await the voting verdict gave way to purchasing demand after midday when the leaders jumped to best levels of the te da day Closing quotations were under the tops because of profit taking Again to Fore Rearmament thinking was again to the fore in the matter mater of the te avia avia- ton and these thee exhibited outstanding ing strength at the start Optimism enveloped speculative quarters when the te American Iron on and Steel institute institute t tute te around midday estimated this ti weeks seeks Eek's steel mill mi production up 42 points at 61 per cent of capacity a a peak since October 11 1 last year Dealings relatively slow during the mornings morning's proceedings picked up briskly after the steel announcement announce announce- announcement announcement t ment and while the pace subsequently slackened transfers ap approximated ap ap- shares Rails Rais coppers rubbers mail mai or orders orders orders or- or ders oils ois and farm farm equipments equipment I joined the advance after a hesitant start New ev High fligh ligh Territory Prominent stocks landing in ne new new- V high territory for more than 12 months month included U. U S. S Stele Bethlehem Bethlehem Bethlehem Bethle Bethle- hem General Motors Chrysler and Sperry On the upward swing w were re Dougla Douglas Doug Doug- las la Aircraft Boeing United Aircraft Aircraft Air- Air craf craft North American Aviation Glenn lenn Martin Martn Wright Aeronautical l U. U S. S Rubber Goodrich Goodyear Santa Santa Fe N. N Y Central Southern Pacific Sears Roebuck Montgomery Montgomery Ward Texas Texa corporation J. J I. I Case Westinghouse Manville Johns Johns Allied Allied Al Al- lied led Chemical U. U S. S Gypsum Anaconda Anaconda Anaconda Ana Ana- conda and Union Car Car- bide New York traction loans were well wel in front of a quiet advance inthe in the bond nt stimulated by I expectations of near-by near completion of unification of the te city's transit facilities Commodities were a bit mixed Wheat at Chicago was unchanged to off 8 3 of a cent a bushel buhel Corn Cornwa was wa up to 1 Cotton Coton in late transactions trans trans- actions was unchanged to off about 30 cents cent a bale Sterling and that and the French franc were about even at att at the former at t and th at 8 3 cents cent Tilting Higher i Tilting higher in the curb section were Electric Bond Bon Share hare American Ameri Amen r can Gas Ga American Cyanamid B Band and j Gulf Oil Oi tOn v t vOn On the side of the aircrafts was was' i ithe the latest governmental reference to this country's increasing its it air defenses to between and 1000 planes which would mean plenty of business for the manufacturers of aerial fighters I In addition additon to Tuesdays Tuesday's battle batte of j the ballots balot there was much board boardl room guessing regarding the dividend dividend dividend divi- divi j meeting of Gen General Genral ral Motors I due dua after the close Monday Majority Ma Ma- MaI I opinion n was that that besides the regular payment of 25 cents a share I Ian an extra of between 25 cents and 1 was likely The surprisingly generous generous generous gen- gen I erous dividend of Chrysler was seen seen asa aa case in point point The much brighter outlook for motor makers was was' wa reflected in jn forecast forecasts fore fore- 1 casts cast output of new cars in November November November Novem- Novem j ber would amount to about J units against in October and in November last lat year Requirements Expanding Attention was given the survey of the magazine Steel which said requirements re- re requirements requirements of most steel users still sti are expanding and metal demand I aided largely by relatively brisk ac activity ac- ac c- c in the automotive industry It was wa added that with ith mill mi operations operations oper oper- up sharply in some districts districts' to accommodate recent heavy bookIngs bookings bookings book- book ings of sheets sheet and strip however 1 there is the suggestion that part of this thi additional output into stock rather than into 4 to tion The federal reserve board in is Its Its' t monthly report on trade reported a a arise arise I Irise rise in its index of industrial production production pro- pro I ducton in October to 95 per cent of f the 25 1923 average from 90 per percent percent percent cent in September |
