Evening star. [volume] (Washington, D.C.) 1854-1972, 1937-04-18
ST0CKL|STDR|FTS
|NNARR0W RANGE
AT WEEKS CLOSE
Few Specia|ties Edge Up,
but Hesitancy Marks
Most Groups.
C0PPERS ARE NERVOUS
AS FUTURES GO DOWN
Steels Also Are Inclined to Ease.
Traders Cautious, Awaiting
Roosevelt Speech.
WHAT STOCKS DID,
BY FREDERICK GARDNER,
Associated Press Financial Writer.

NEW YORK, April ia few spe-
cialty shares plodded forward but
most Of the list drifted narrowly today
in the most lethargic Saturday stock
market since last August %.
Traders were dtinclined to venture
into deep water with the Presidents
budget speech slated for the middle OF
next week.
Specialties responded mildly to a
fair comeback Of some commodities
from yesterdays slump. but coppers
were nervous over a further drop to-
day IN red metal futures.
Steels also inclined lower following
publication of estimates activity would
be down in the Pittsburgh district
next week
At the finish the Associated Press
average Of go stocks was down L of a
point at 10. OF the 625 issues traded,
1T advanced, 27l lost ground and
lit were unchanged Transactions
totaled $4,000 shares, against 48O, $50
last Saturday.
Rail Shares Lag.
In stocks, greatest activity was In
coppers, steels and specialties. Rails
Jagged despite the fact last weeks
carloadings dipped less than season.
ally. Utilities and rubbers were quiet,
and oils, although more in the picture,
were mixed
Some favorable earnings reports
and increased dividends stimulated
buying interest. Armour moved frac-
tlonally forward on announcement Of
larger distribution and Mead Corn.
was active and higher under a better
Income report. Loew's also was up
with the expectation the quarterly re-
port, due Monday. would show higher
income.
prominent among gamers Of frac-
tons to around points were Armour,
l2h; Mead, 33A; Allied Chemical,
242; United States Industrial Alcohol,
4oA; Deere, 1891; Panhandle Pc
troleum, 3a; Stewart Warner, 10,
and Crown Zellerbach, 24A.
Bond Market Improves.
Small offerings were struck by firm
bids as the bond market moved higher
on light volume.
the prevailing trend was upward in
all sections of the list, except rail and
utility groups, where some loans low
cred a bit. Almost as many others,
however, moved a trifie higher in
these sections.
The United States Government
group went forward on small-scale
buying to finish in higher ground for
the fifth successive day. Gamers were
close hauled for the most part. al
though the Home Owners Loan 2Ls
OF 1914 added g of a point at 1928
and several others were up 9-32 of a
point or more. At the end Of the day
only four issues remained below par,
and these but slightly.
Federal issues are now yielding in
the neighborhood of 25 per cent, q
basis believed by many observers to
be below the mark at which buvinp
interest can be stirred. These have
maintained steadfastly the market
would stabilize between 27s per cent
and per cent or little better.
Domestic corporate obligations also
pointed higher, although in many in
stances the move was little more than
gesture.
Curb Trading Dull.
Listless trading with gains balancing
losses marked dealing in the curb
market today.
A few common shares swung AZ
much as major fractions while move
ments beyond that scope were con-
fined to handful Of preferred stocks.
Components of the upward move in
cluded Consolidated Aircraft, up J.. to
81; Hubble Oil, up u to 81A; Electric
Bond q Share per cent preferred up
u to 6812, and smaller gains by Bliss.
Gulf OIL and Sunshine Mining.
Swinging the other direction we're
Eagle Pitcher, of V to 21Ka; Hollinger
Gold, off u to 12A; Niaraga Hudson,
down q to 1878, and Trans Lux, of
u to AZ.
Turnover for the day of $4,000
shares, while better than the preceding
Saturdays 10000 shares, was well
below what might be considered nor
NAL volume.