Evening star., 1937-05-02
implements and SpeciaIties
Gain, but Others Mark .
Time or Retreat.
MANY TRADERS AWAIT
LONDON SETTLEMENTS
British Firms With Big Losses
Must Make Adjustments
Next Thursday.
WHAT STOCKS DID
Total tssu,
BY FREDERICK GARDNER,
Associated Press Financial Writer.

Associated Press Financial Writer.
NEW YORK, May Farm imple-
ments and specialties took another
step forward in todays stock market,
but many Of yesterdays buoyant
leaders stood still or backed down
moderately.
The news generally was interpreted
as satisfactory There was only Z
dribble Of foreign selling and the gold
price spectre appeared TO have all but
vanished. The inflow Of favorable
corporation statements continued and
business prospects were at least fairly
cheerful.
Traders, on the whole, exhibited an
exceptional amount OF discretion in
expanding commitments in either di-
rection. Some, it was said, thought
Fridays upswing had been little too
sharp. Others decided neutral ter
ritory was advisable while awaiting
what will happen on London's settle
ment date next Thursday. when many
British financial houses, heavy losers
recently in commodity speculation,
will have to step up to the paying
window.
Dealings were on the quiet side
throughout, transfers totaling 55l ,450
shares, compared with 807,6 last
Saturday. The Associated Press aver
age Of 60 stocks was unchanged at
682
Chrysler Pushes Ahead.
Growing production in the auto
mobile field spurred Chrysler on for
time. but this issue slipped later and
finished with a net advance of "a
point at ll3A. General Motors was
down 4 at So. Electric Auto-Lite
held gain Of at 49,
A handful of oils responded to re-
ports of larger consumption, although
crude output has been establishing a
succession Of new peaks. Standard
Oil of N. j., at 66l2 and Standard Oil
of Indiana at 44s4 finished up frac-
tionally Texas Corp. Barnsdall and
Continental Oil were unchanged after
being ahead most of the session. Sea-
board dropped l2s at IS.
Upward estimates of agricultural
income this year brought buyers for
the farm machinery group. Up frac-
tion to more than a point were J. /
Case at l68l2, Deere. 1885,; 1nterna
tional Harvester, 1865, and Olive,
| Farm, 10.
Sloss Sheffield Scars.
Sloss-Sheffeld Steel was up
points on transfer of only 20 shares
Others with modest gains included
American Telephone at 1924, Atlantic
Coast Line, 48; Illinois Central. 3l4
Du Pont, l5412, and National Cash
Register, 80.
The major steels were backward
most of the time. United States
Steel was off 4 at l01, and Bethlehem
yielded q at 85l2. Others in arrears
were Westinghouse at 1879, Genera
Electric, 535s; Santa Fe, 875s; New
York Central, 4612; Southern Pacific
Sc; Electric Power g. Light. 1885
Anaconda, 51A; American Smelling
85ls; Kennecott, 81; Sears Roebuck
8612, Douglas Aircraft, 81; Goodyear
Ala, ! and United States Rubber
9s5s.
Amusements were not too depressed
by the Hollywood moving picture
strike, although Loew's at 76A
Warner Bros. 1874: Paramount, 2l7s
and Twentieth Century-Fox, 27a
dipped a trifle
Bond Market Narrow.
Interest deserted all sections o.
the bond market and prices lollee
In narrow lanes with the majority
showing trifling improvement.
United States Government loan
shuff1ed about unevenly. Gains wen
to 1s of point and losses to 6-32
Setbacks were not great enough t.
overcome improvement shown earle
in the week, however, and the groul
finished the period at higher levels
Treasury 4A4s of 1852 proved the onl.
exception by closing off 1892 of /,
point from the previous Saturday
price.
The volume of trading was mucl
below normal short session." an,
turnover was s4,571,00 face value
compared with s5,483,000 a weel
ago. Governments accounted TO
roughly 100000 of the total.
In the domestic corporate division
American Writing Paper IS certif
Gates recoiled 7H points to 51A
While these and the per cent bond
have been quite volatile of late, to
days break was unusually sharp.
Curb Shares Uneven.
ton of the curb list, although lat
profit selling caused some uneven
ness at the close.
Industrial specialties were subjec
to divergent swings, while utility an,
oil groups held to comparatively mar
raw ranges. Trading was light.
! American Cyanamid "B" pushed VI
1ss to 305s Aluminium Co. of Ameri
ca retreated after an early gain, clos
ing of ~ at 1894. Glen Alden
Newmont and American Boxboar'
were down to 2.
American Light & Traction finishe,
at 1874, up "; American Gas g. Elec
trio at 33A. up "a; Hecla, 17h, VI
3s, and Technicolor, 22ss, up w..
Transactions totaled 10000 share
against l76,ooo the previous satur
day.