Evening star. [volume] (Washington, D.C.) 1854-1972, 1938-08-21
BY FREDERICK GARDNER,
Press Financial Writ.r

Total issues ----------- 48s sos
BY FREDERICK GARDNER,
Associated Press Financial Writer,
NEW YORK, Aug 20-The stock
market finished the week today with
feeble rallying tendencies predomi-
mating.
Tending to chill bullish forces, how
ever. was the fact the two-hour pro-
ceedings were the slowest in more
than two months.
Quiet buying in steels and motors
provided the principal advancing fuel.
Gains running to a point or so were
posted for leaders shortly after the
opening. but these were substantially
reduced or Cancelled by profit selling
at the close.
Transfers Of $3.50 shares for the
day were the smallest for any session
since June 10. For the week the turn
over was also the smallest since the
six-day period ending on that date.
The days aggregate compared with
$4,000 last Saturday. The only time
during the week the total even ap-
preached the 900 00O-share mark was
on Friday, when 1925, $50 shares we're
traded.
The Associated Press average of 60
stocks managed to emerge from the
Saturday siesta with net gain of i of
a point at 48.7 On the week this
composite recovered IL points of last
weeks relapse of IS points. Analysts
said this was about the generally ex.
pected correction" OF the latest set
back.
News Fairly Constructive.
The days news was seen as fairly
constructive, although many traders
apparently were still waiting for BUSH
ness to give more definite signals a
real upturn would get under way by
fall at least.
MOTOR stocks were the liveliest of the
session, as predictions were heard that
output and sales in 1899 would ton the
current year by Is to 50 per cent
Chrysler got up more than a point at
the start, but finished at 70. 4 rain
OF q. General Motors. the most
active Of all issues. was ahead IA At
1914. Bendix hit new high for the
year and emerged up y at 1874.
steels were in the foreground OF
the initial move, but these, too, gave
up most Of their advance at the last
U. s. Steel held an advance Of 81
at SO and Bethlehem was Is improved
at 81 Buoying this group were Is.
inmates next weeks mill operations
would step up another notch and put
the industry in a way to offset re-
Gently slashed prices and the con-
tinuance of wage scales.
Tire Issues Popular
Tire company issues, on the whole.
were among the most favored. al
though they backed away in the clos
ing period. U. S. Rubber was down
q at ass while Goodyear and Good
rich were slightly higher at 1917
respectively. These shares were aid
ed by reports crude consumption was
currently exceeding imports by a wide
margin. In addition there were in
dications of a brisk pickup in tire
sales.
Backward we're International Har-
vester, Sears Roebuck, Johns-Mans
Vile, Union Corbide, National. Bis
cult, United Aircraft and Republic
Service of N. j.
Curb Oils Favored.
Buyers in the Curb Market found
oils and metals most to their liking
Gamers Of fractions to around a point
included Creole Petroleum, Pantepec
International Petroleum, Aluminium
Co., American Cyanamid 3D." Lake
Shore and Newmont. Among few
scattered losers were Glen Alden and
Arkansas Natural Gas "a" Trans
fers of $4,000 shares were the small
est since June 1s and compared with
$4,000 4 week ago.
Motors, rubbers and stees made
the best showing on the week among
pivotal stocks.
The market enjoyed its most stable
advance Friday with net gain of Z of
q point on average. The composite
posted its only minus sign OF L of a
point on Thursday.
The list got off to fairly good
start Monday when tension over the
German Czech controversy lessened
perceptibly, although uneasiness con-
tinued abroad as extensive German
military maneuvers got under way.
The gold boarding rush overseas, how
ever, slowed down somewhat and the
price of the yellow metal at London
was reduced from the record high
reached last Saturday
Steel Rise Helps.
Squirting the early recovery move
was jump of one full point in the
weeks steel production, to the peak
level since last November.
Frightening the horizon also wa
the recall by Ford of 1900 workers to
start the manufacture of new models
and signs other motor makers would
be going under full steam after Labor
Day. Automobile output this week wa
up about 10000 units from the week
before.
Other favorable straws for the mar.
ket were further increase in electric
power output, a slightly more thar
seasonal expansion in last week,
freight loadings and substantial gair
In telephone stations for the past
month.
FARM ANIMAL CENSUS.