OCR Text |
Show BUYERS' RUSH FOR AMUSEMENT SHARES SWAMPS BROKER ! : 1 . . ; : SPURT SETS OFF r ENTIRE IMXETz ay elmkk a walzeb United Prcaa Plnanciai Editor NEW YORK, rah. 3 Rubber aharea, amuaamenti and a few other iaolatad laauea provided atock market mar-ket interest Tueeday In tha abaenc of pectaoular performances by the highest grade aharea, Tha feature waa Warner Brother Pictures. A ahort time ago tha atock waa depressed whan the company announced it would offer 326,000 hares of common atock to present holders In tha ratio of on share for each four held at 812.50 a share. The atock broke. Today the company com-pany announced that It denned inadvisable in-advisable to issue additional common com-mon atock and that It therefor had discontinued negotiations for underwriting under-writing the issue. Swamped by Bayer Tha announcement brought In buying order so fast that the specialist spe-cialist In th, laaua had to auspend trading. A 'notice on the atock ticker aald: "At tha time trading stopped In WB Werner Brother aalea had taken place from 15 to 1814." Governors of tha exchange oame to the rescue of the specialist and helped him bunch tha order. Shortly after 1p.m. the order ware touched off In a block of 10,000 share at IT, up 2 point from th previous close, further gain war mad later. No reason waa given for tha War- . ner Brother action, but trader deducted that It might wall have been due to greater proaperity that freoluded need for additional funds, t so, other com panic in tha movie business also ahould be benefiting, it waa reasoned, and heavy buying cam into th amusement group. film Share Ris Paramount first preferred, noted for It wide fluctuation, shot up 8(4 point to 138V4. Th common atock gained a point to 274. Loew'a mad a new high at 70, up 1. Columbia Co-lumbia Picture gained mora than a point. Radlo-Keith-Orpheum was aotiv and fractionally higher. Th spurt In Warner Brothers for a Urn set off general buying throughout th lilt and th ticker fell behind. U. S. Steel equaled It high sine 130 at 103 H, np point. But whan It displayed Inability to go through, aelling forced lt down a mall amount, Ludlum waa today' to-day' featur at eel share, It md a new high at 38, up 3V, point, on Its 12M tarnlng report, which showed a gain of Tl per cant ever, th 183S total and was it per ctnt above th pravloua high mad la 1929. Jew Top Beachcel - IVewJiJgh wrjnad by .the God-ca. taxnes, whose preferraea aVera op v raurb a 8Vt point la th T per cent; Goodrich, Firestoa and V. S. Rubber Issue. . Thee I gained 1 to 2 point, with th most activity in Goodyear common. Th letter's recent payment of arrears on th T par cent preferred and resumption re-sumption ofr common dividend gave trader a clue of what ta expect ex-pect from th other rubber companies. Some of Monday favorites. Including In-cluding th sine laauea and tha packing atocka, made naw hlgha and than eased on profit-taking. Th same performance was noted la th aviations, where United Aircraft made a high at 32 and then dipped to 82. Boeing lost 2 point. Weakness in Southern Pacific had a restraining Influence on th nil-road nil-road issues, although th group as a whole held welL Utillti war mixed In a narrow rang. Truck ahare mad new high, but other of th automobile family were mixed. Chryalar gained. General Motor lost slightly. Graham-Paige was vary active, making a new tap at 44, up Vt. American Telephone lot 2 point and Du Pont mora ' than a point Deer jumped mora than 3 point. |