New York, Nov. 7
Prices opened lower on the New York Stock Exchange this morning as a result of nervousness chased late, sat me daly report of the the selling wave of the previo
Dow Jones Financial News Agency.
The tide turned, however, and usa were recorded faster than had een the earlier declines.
U.S. Steel led the advance'after opening §7 lower than yesterday. Steel closed §5 higher.
In the day's heaviest trading, near the close of the market at 1 o'clock, the tickers lagged an hour behind sales and once more caused a "blind Snarket" where prices were almost impossible to follow.
"immediately after Stee! began its recovery, buying orders arrived {from all parts of the country. The exult was that nearly all the carly osses wore regained.
The final spurt of buying caused most of the issue to close on the day's high levels, which were for the most part—substantially above yesterday's closing quotations, 'Bankers and wealthy traders, di mayed at the turn of events yester day' when prices went lower instead of higher as had been anticipated, displayed visible signs of relief fay, but declined to comment future.
Tu mest quarters it appears that there is great hope that the slump period may be at an end for the time being at least, since prices are most favourable and should attract purchasers.
Bethlehem Steel reacted favour: ably in company with U.S, Steel and closed at 93, up 6)" from yesterday, American Can closed up 5 points to 120, Radio Corporation advanced from. its record low for the year, 323, to close to-day of 974 While there were some refronts evidence, such as Goodrich Tubber's three-point decline to. 52 and the slump of Electric Bond Share from yesterday's 652 to a ose to-day of 59, the general trend was such as to give distinct relief.
General Electric marched forward sensationally, jumping from fits record low of the year, 206 at the close yesterday, to a quotation 224 at toxday's close, General Motors moved up 34 to 1 close of 433 and Packard was up 3 to 17%, but Chrysler, which made record low for the' year of 33 yesterday, reached a new low of 52h to-day.
Among the rail issues, Pennsylmania failed to rally and closed down fat 84% but New York Central climbed 68 to 185, Canadian Facifie advanced 12 to a close of "205, Chicago Northwestern was up to 87 and Union Pacific swooped up 9 points to 2243, Rock Island was one of the fow to decline, falling off 3 to 112.
Anaconda Copper advanced 3 to 854, Kennecott was up £ to 67} and Nevada, Consolidated moved wp 1S to 948 Sales for the day totaled 7, 0 shares.—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.