A.T. & T. Hop Marks Modest Stock Upturn
NEW YORK, Aug. 16 MVÛÓIn its second straight day of recovery, the. stock market ad-1 vanced moderately today, but! the rise was hampered by several tired areas.</br></br>Steels, motors, oils, utilities., rubbers, radio-television, and; aircrafts all made good progress, and there were a number of outstanding individual perform-J ers.</br></br>American Telephone hit a new high of 162% and closed up 1% at 162%. It was the 13th most active issue in the list and showed by far the biggest gain of the 15 most active issues.</br></br>' In Wall Street a number of possible reasons for the buying popularity were discussed. The j first rumor to pop up was the frequently heard split possibili-l ty. Company officials have always denied their intention of breaking up the big shares into i smaller ones.</br></br>Still another reason assigned; for the buying was the fact that learnings and dividend record of , the company have been maintained despite the increase in !thc companyÛªs capital structure j through the issuance of debentures convertible into common Ûª stock.	j