New York. Mar. 8
Motors led the New York Stock Exchange to the highest level since January 4 today. Bonds gained, featuring United States Government issues which reached record highs.
General Motors reached the highest point this year and auto equipments and rubbers followed, establishing several highs for a year or more. Lemand was accelerated as a result of Publication of General Motors January and February sales figures.
Coppers developed considerable acivity on higher export demand. Steels gained on the outlook for increased operations.
In addition to other favourable factors, the Hopkins National Income prediction aided the market. Estimates ai high car loadings aided rails and aviations were strong. The utility average equalled the year's high but utilities were neglected in favour of industrials.
Sentiment was friendly and most brokerage houses were bullish. Wall Street hears that improved weather was having a favourable effect ea the sale of new and used cars. National aviation's earnings this year may reach $1.75 per share. Vanadium Corp. Is regarded attractive for speculation. Some selling of National Biscuit preferred represented investment liquidation because of diminished yield.
Favourable market factors today included:
1. General Motors. sales in January and February were the best in history.
2. Tangible evidences of Government-business "appeasement.
3. Electricity production has gained 102 per cent over the corresponding period of last year.
4. "The almost general belief that the steel situation will improve soon.
Unfavourable factors included these:
1. The continued small public interest in the market 2. International uncertainties.
3, New corporate financing continues to iag.—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.