Highs New York, Feb. 6.
Utilities hit the highest levels since 1987 on the New York Stock Exchange today in response to the Government's agreement to buy the Tennessee Flectric Power Ca. properties from Commonwealth Southern Corp.
Utilities monopolized the tape as Tennessee Electric preferred soared nearly fourteen points on the curb. Other Commonwealth Southern subsidiaries also showed wide gains.
Utilities common stock gains ranged above one point.
The general list followed utilities although trading in industrials and rails was light.
Business news was generally favourable. Steels, motors and aviations were strong. Profit-taking reduced gains and finally affected utilities which lost part of their early advances—United Press.
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