Evening star., 1937-06-06
BY FREDERICK GARDNER.
Associated Press financial Writer.

BY FREDERICK GARDNER.
Associated Press Financial Writer.
NEW YORK, June 5.-Quiet de-
mand for farm implement shares and
specialties helped to keep today's
stock market on balance.
But Profit selling made its appear
ance after an early forward tilt and
extreme advances were pared or cam
celed in many instances. Fractional
gains were in the majority at the
finish.
The gold problem continued to hold
the attention of Wall Street, but yes
terday's assurance of the President
regarding maintenance of the price
OF the yellow metal seemed to have
buoyed both speculative and invest
ment sentiment to some extent.
At the same time stock traders
showed little inclination to resume
upward late Friday. Many cashed in
following the opening, on the theory
the belated rally may have been a
flash in the pan, due to the protracted
decline and the drying up OF offerings.
1t was the slowest Saturday session
in month, transfers totaling 342, ,440
shares. The Associated Press average
OF so issues managed to emerge L of
a point higher at 678.
Motor Leaders OF
Sporadic strikes in plants of Cen
eral Motors and Chrysler were settled,
but the formers stock was off J.. at
55as and the latter's yielded 50 at
1l3as.
Continuance of the steel labor dead
lock kept shares in this department
subdued. Rails shifted about un-
easily as carrier wage negotiations
gave indications OF being a long
drawn out affair."
Agricultural machinery stocks were
given a brisk lift for time as traders
weighed crop prospects and concluded
they augurcd web for larger farm
incomes. Utilities held to q restricted
groove.
Among shares closing up as much
as a point or so were Deere at 1874,
International Harvester l12, J. I. Case
Ill, Du Pont 1873, F1intkote 3ll4,
Union Pacific 14O, Western Union
5SA. Cerro de Pasco 69a4 and General
American Transportation 50.
On the offside were u S. Steel at
1923. Westinghouse, 1892; General
Electric. 541,; Southern Pacific. 5ll2;
Santa Fe. "a: Sears -Roebuck. $685.:
Douglas Aircraft, 58&.. and Standard
of
United States Bonds Improve.
The bond market plodded through
another quiet session and emerged
with many small gains.
United States Governments turned
up as a group, following Fridays
slightly erratic movements, and fin
ished with advances ranging to 9-32 Of
a point. While several remained even
on the day. none lost ground.
Turnover for the short session to-
tailed $4,363. 900. face value. for all
bonds. compared with 1896 900 on
May %. A week ago the market was
closed to inaugurate the long Memorial
day holiday.
Virtually all members Of the in
vestment community looked to Mon-
days note offering by the Treasury for
some direction factors around which
to build trading and investment
policies.
Lower rated railroad bonds at
tracted following Of sorts today and
moved ahead small fractions as did
public utility issues. The Associated
Press averages for 20 carriers liens
moved up OIL Of point to 93.6 and
the 10 utilities gained the same amount
at 98.1.
Curb. List Retreats.
After pushing little higher in the
first hour the curb market retreated
as buying interest waned. The close
was mixed.
A few industrials were responsive
to a moderate demand. Technicolor.
E. w. Bliss Co.. International Petro-
leum. Humble Oil and st. Regis Paper
finished with some gains.
Gulf fell back after fair rise in
early dealings Fractionally lower
were the final prices for Arkansas
Natural Gas "A,' Consolidated Air
craft, Niagara Hudson Power, New
mont and New Jersey Zinc.
Transactions of $4,000 shares were
the smallest for Saturday in about a
year. Previous Saturday volume was
16l 900 shares.