Evening star., 1937-10-10
BY FREDERICK GARDNER,
Associated Press Financial Writer.


Associated Press Financial Writer.
NEW YORK, October 9.-The stock
market logged along in a rut today,
with a few leaders adding gains cf
fractions to around a point or more.
The list was mixed at the close, but
both gains and losses in most cases
were small. Aircrafts. steels and mo-
tors benefited from an upward. push.
but buying interest proved unen-
thusiastic and rallies were weak
|, Traders were cautious iii making
commitments in view Of this coun-
try's participation In an imminent
nine-power conference on the Far
Eastern crisis. There was little do
mestic news to influence the market
one way or another.
Interest was displayed III the New
York speech Of Chairman Jones of
the Reconstruction Finance Corp. in
which he said he failed to ind any
good reason for the markets recent
slump. Brokers we're divided, how
ever, as to whether today's prices were
affected to any extent.
A big Government order, placed
with Boeing, helped the aircraft
shares. Chrysler improved on trade
estimates third quarter sales were 80
per cent better than in 1886.
Dealings were quiet through most
Of the session, with activity heightened
in the last half hour Transactions
totaled 488,980 shares, compared with
285, ,720 last Saturday The Associated
Press average Of so stocks gained i
Of point at 526
United States Steel again was the
most active share on the board, clos
ing at II, up q Of point. Boeirg
picked up II: at 26ss. and Chrysler
was higher by the same margin at
857s.
Other gamers Of fractions to around
point or more included Bethlehem,
61ss; Republic Steel. 2las; Douglas
Aircraft. 39ss; United Aircraft, 22H;
General Motors, 45a: American Tele-
phone. 1871; Western Union, 80;
Northern Pacific. 17A; Cerro De
Pasco, $50; J. I. Case. 1913. and Air
Reduction. 62a.
Santa Fe was in supply and finished
off IA at 48s4, although other rails
were unchanged or advanced by small
fractions.
Rail Bonds Decline.
Railroad obligations and foreign
issues were forced down In a sAgging
bond market. The averages for rails,
industrials and foreigns touched the
lowest levels in nearly two years.
Federal loans tilted down q little.
Declines did not exceed 1892 of a
point and the few scattered gains
were confined to 4-32 Of a point
The Associated Press averages for
20 railroad bonds dropped Q Of q
point to 829, the lowest level since
November 20, 1885, when they stood
at 824.
Utility and industrial obligation,
fluctuated narrowly with the former
showing modest signs of resistance.
The averages for 10 industrials slid
L of point to 1904, the lowest
since November, 1885. while 10 utili-
ties held unchanged at 93.9
The averages for 10 foreigns fell i
of point to a new 2-year low. Japan
512s slipped point to 81 and ORR
entail Development IS gave up 2 at 55
Curb Shares Narrow.
The curb market seesawed within
narrow limits on moderately heavy
volume. The tendency was lower a.
though few high-priced stocks pushed
up point or so.
Aluminium Co. closed a point higher
at 1o1 following yesterdays sharp
break Most other gains held to
fractions. American Superpower,
Technicolor. Wright Hargreaves and
Consolidated Copper worked up q
little. -.
Taking the down trail were Creole
Petroleum at 1875, United Wall Pa
per, 21z; Crocker Wheeler, Sss; I'M
perial Oil, 1919; Cord Corp, 23s:
Fisk Rubber, 7h, and Electric Bond
& Share, 10h. Newmont Mining
dropped points to 10.