Early Losses, Close Higher
NEW YORK, March 10 TP).ÛÓ The stock market overcame a mid-session stumble today to finish with a modest advance.</br></br>Trading volume at 1,530,000 shares fell somewhat behind MondayÛªs total of 1,600,000, but there were occasional pickups in speed as prices improved late in the day.</br></br>The Associated Press average of 60 stocks advanced 20 cents at $114. Industrials were up 50 cents and rails 20 cents while utilities, affected by ÛÏex-divi-dentÛ trading in American Telephone, dipped 10 cents.</br></br>Individual corporate news depressed some issues. Holland furnace was down 3% at 18% after directions reduced the dividend to 25 cents from 50 cents previously paid.</br></br>Celanese lost a point at 31 after reporting 1952 earnings equal to 77 cents a share against $3.56 a share in the preceding year. Phelps Dodge earned $3.45 a share last year against $4.24 in 1951, and the stock dropped % of a point at 40.