Evening star., 1937-08-15
BY FREDERICK GARDNER,
Associated Press financial Writer.

NEW YORK. August l4.-The stock
market added fractions to point OF
so to its recovery stature today
On volume little larger than has
been witnessed during recent Satur-
days, selected steels, oils and special
ties were the principal performers on
the upside.
Best advances were in evidence at
the start when blocks of 1000 tc
5000 shares appeared on the ticker
tape at frequent intervals Traders
were inclined to cash in some of their
profits, however, and top gains were
reduced or cancelled in many in
stances before the close.
With Congress expected to adjourn
shortly, and the possibility number
of measures not to Wall Streets liking
will be shelved, brokerage sentiment
seemed to have undergone further i'm
provemnt.
Transfers totaled .467,O3O shares
compared with 314.683 a week ago.
The Associated Press average of so
stocks edged up 3 of a point to 7O.6.
Steels Forge Ahead.
Steels leaned forward notwithstand- :
ing indications of decline in next
weeks mill operations Steel buying
by automobile makers, it was thought,
would bring pickup in the near
future.
With the heavy gasoline consump-
ton season approachin its peak, sew
eral oils issues were given a play.
Rails were resistant as high hopes
continued for a quick settlement OF
the wage problem. Business prospects
spurred specially favorites.
Eastman Kodak was the days Wild
est jumper. getting up ia points to
1879 on top of 3-point advance
yesterday. On the week the stock was
ahead about II points. Favora BILE
earnings and talk of split-up in the
shares was believed to have motived
the move
Federal Bonds Improve.
Government bonds braced a little
in quiet bond trading Gains in Fed
erals ranged up to 6-32 while losses
which were in minority were confined
to around 5-32.
Domestic corporate issues moved
narrowly in light turnover. Carrier
liens perked up here and there, but
there was no definite trend. Indus
trials were about unchanged. Practi-
cally all sections Of the list were
marked by lack of aggressiveness.
The Associated Press averages for
20 rails showed gain of OIL OF a
point to 9l.3. Buying in this group
was apparently cautious and selective
with some of the lower priced and
defaulted issues recording modest
gains.
In contrast to the up trend in the
carrier averages, the compilation for
10 lndustrials showed q drop of OIL
OF point to 1881. The averages for
10 utilities was unchanged at 9s.5.
The foreign dollar loan section was
inactive with most price shifts re.
to a narrow range. japanese
issues showed sagging tendencies and
German bonds were inclined to falter
Total turnover for all bonds was
s3,l75,85O face value, compared with
S2,6l6,600 last SATURDAY..
Curb Activity Jumps.
Trading on the Curb Exchange was
the heaviest for any Saturday of the
past month, with utility shares gen.
orally showing fractional gains.
Niagara Hudson Power closed at
i3%, up Is; American Super Power,
=, up 3; Cities Service, 31s, up u;
american Gas & Electric, 341., up u:
Arkansas Natural Gas a." ~. up
1s. Electric Bond e. Share was un-
changed at 2o1s. OIL shares were
Inactive.
Volume was 10000 shares, COM
pared with $4,000 shares last Sat-
lrday.