Evening star., 1937-06-20
STOCKS IRREGULAR
IN NARROW RANGE
AS VOLUME LAGS
Most Carriers and Coppers
Sell 0tf-Uti|ities Lag
After Advance.
TRADING PACE SLOWEST
SINCE OCTOBER, 1884
Market Obviously Awaits Some
Break in Steel Strike-0ils
Are Most Active.
WHAT STOCKS DID.
Total issues -
BY FREDERICK GARDNER,
Associated Press financial Writer.

BY FREDERICK GARDNER,
Associated Press Financial Writer.
NEW YORK, June 19.-Stocks
moved unevenly within narrow COM
pass and got nowhere today in the
slowest Saturday trading in two and
half years.
Among the 20 most active shares,
the widest price change was 70 OF q
point. Rails and coppers were mostly
little lower, utilities perked up for a
while, but interest died and they nm
ished about unchanged. Steels, motors
and oils were mixed.
Keepers Of the records had to 60
back to october 27, 1884, to find a
day in which transactions were fewer
than the 220,950 shares traded today
At the finish the Associated Press av-
erage OF so stocks was down 2 OF q
point 70 644.
Traders were obviously waiting for
some sort Of break in the steel strike
situation. The declaration OF martial
law at Johnstown appeared slightly
helpful to Bethlehem, which gained
"a at 8lss. But there, again, only
1900 shares changed hands.
Bargains Sought.
Some bargain hunters were on hand
at the opening and their bids carried
a part of the list higher. But activity
sagged and whole minutes went by
without flicker Of the ticker tape.
Lethargy OF the carriers was at
tributed partly to loss OF traf1ic
through the steel strike and to un-
Certainty over wage negotiations.
Greatest activity appeared in the
oils. but they sold very closely in line
with yesterdays closing level.
Shares moving up little included
Consolidated Edison at 33Ss, Public
Service OF New jersey, 37ss: Columbia
Gas, 1las, North American, 23ll:
American Can. 941a; Briggs Mfg,
Az, and General Foods, 37l4.
United States Steel dropped & at
95ss. Other losers were General
Motors at so, New York Central 1884;
Santa Fe. 8lls: Southern Railway,
3las; New Haven, 3X: Northern Pa.
cif1c, 297s; Anaconda Copper, 501s:
American Smelling, 84ls: Kennecott,
5514; Phelps Dodge. 44h: Loew's,
75l2; Texas Corp. 5724, and Case, 1853.
United States Bonds Uneven.
The bond market partially succeeded
in fighting of inertia as trading fell
to the slowest gait for a Saturday
In nearly seven years. Price changes
were inconsequential.
The volume OF business dropped tc
$2.910,000. face value, the smallest
figure for the short session since Au-
gust 2. 1890, when the aggregate for
all bonds was $2,7s3,0O0.
With the tape resting between sales
there was little chance Of noteworthy
changes in quotations. United States
Government issues wobbled through
the session with gains ranging to
three thirty-seconds OF a point and
losses to one-eighth. Such minute
variations had little effect on the
standing Of these loans on the week
and the list showed recessions from
the preceding Saturday Of one thirty
second to thirteen thirty-seconds Of
a point.
Domestic corporate liens were even
less inclined to bulge, and all groups
held to virtually unaltered positions.
Curb Market Quiet.
The curb market In one of the
quietest days since March, 1885, man
aged to move generally forward in
spite Of bad case Of Summer Satur-
day doldrums.
Many issues drifted upward in the
face OF the uncertain strike news.
Pittsburgh Plate Glass recouped some
OF its losses Of earlier In the week.
running up 2 points to close at 1913
Sherwin Williams also scored a SIM
liar gain, finishing at 121.
The oil division was mixed. with
Creole Petroleum up q point and Gulf
OIL pointing down ". Utilities showed
steadiness, with swings confined to
narrow margins.
Transfers for the short seSsion
totaled $4,000 shares, compared with
Fridays volume Of los. 900 shsres