Evening star., 1937-09-05
Some Specia|ties Also Gain.
Many Other Issues Go
Down Moderately.
U. S. GOVERNMENT BONDS
CONTINUE TO RETREAT
Railroad Obligations Also Slump.
Lack Of Support Rather Than
Size Of Offerings Blamed.
BY FREDERICK GARDNER,
Associated Press Financial Writer.

NEW YORK, September 4.-Finan-
cial markets merely dozed today and
price changes In virtually all DEPART
ments were meaningless.
Stocks limped ahead, with = few
steels, rails and specialties getting up
point or 50. Many issues were at
standstin and moderate losses were
plentiful at the close.
Transfers OF 229.s8O shares were the
smallest for any day since June 10.
The turnover Of about $20O0,O0O in
bonds established q low mark for the
past seven years or longer Prices in
the loans division were uneven.
The apathy Of preholiday stock deal
ings was exemplined by the fact only
486 separate issues changed hands,
compared with 728 yesterday. The
Associated Press average of so stocks
managed to hold a gain OF OIL OF 4
point at 637.
The ticker tape was frequently mo-
tionless Board rooms were virtually
deserted as traders seemingly found
more profit in starting their lengthy
recess early than in attempting to OUT
guess share trends.
Prominent on the up side were shares
of United States Steel at l04'a, Beth
lehem, 90l2: General Motors, 533s;
General Electric. 5lls: Canada Dry,
237s; New York Central, 34A: Great
Northern. 46ia; Santa Fe. 6sas: Ana
conda. 557s; Pacific Gas, 3O7s; Ameri-
can Water Works. TIA Paramount,
2l's, Standard OH Of New Jersey,
63A; Texas Corp, 56ls; American
Brake Shoe. SIS, and Commercial In
vestment Trust, 58a..
Johns Manville was an isolated weak
spot. dropping 4 at ll7l2. Lesser de-
clines were registered for J. I. Case,
at 1872; Marshall Field. 1888; National
Gypsum, 90; Goodyear. 357s; Servel,
Is; Sears Roebuck, 8634; Allied Stores,
1888; Chrysler, 1861, and Philip Nor
ris. 1884.
Federal Bonds Down.
United States Government bonds
and railroad obligations dropped in 4
Oil uAACh OOlN Aldl ACL ltil CUI IL
over at . post-depression low and the
trading fraternity thinned by alb
sentees, price shifts were confined to
narrow bounds.
Losses in Federals ranged as high
as 1892 of point, while gains. which
were few, were held to around 4-32 of
point. Transactions in this section
were in the neighborhood of 5000, 900
face amount.
Railroad liens stumbled down Lack
Of support and thinness OF the mar
ket rather than weight Of offerings
hastened their fall. The Associated
Press averages for 20 rail issues
show ed drop of OIL OF a point to 8s.3,
the lowest point since January. 1896.
Industrial issues managed to hold
fairly unbroken front, while certain
sections OF the utility division lifted a
little. Interest in all groups was at
low ebb. The averages for 10 in
dustrial liens was unchanged at 1923,
while 10 utilities advanced 0.3 of q
point to 974.
AsAoNcAhoAe III Aoicl6ll AOlAnI bOliOS
was restricted to fractions japanese
loans were uneven and little definite
trend in either direction was discern
ible throughout most Of the list
Turnover for all bonds totaled ST.
000,500 face value, the lowest in more
than seven years, compared with S2,-
473, 400 on last Saturday.
Curb Changes Small.
A few oils and utilities drifted
little higher in one of the lightest
sessions the curb market has expert
enced in two and q half years. Price
shifts In both directions were held to
narrow fractions
Electric Bond & Share crept up a
minor fraction to 16 and Creole Pc
troleum advanced "a to 337s. Arkan-
sas Natural Gas a." Niagara Hud-
son Power, st. Regis Paper and Hecla
Mining lifted minor fractions.
Slipping minor fractions were Hum
Bile Oh at 8034, American Cyanamid
b. at 337s and International Pc
troleum at 34la. United Gas, Wright
Hargreaves, Sunray Oil and Fisk Rub
Der were unchanged.
Volume totaled $4,000 shares. the
lowest since March 9, 1885, compared
with $4,000 shares last Saturday.