Evening star., 1939-08-27
Stock Leaders Extend
Rise 81 10 s. as Peace
Hopes Grow
Market Closes Near
Peaks; Bond Prices
Also Improve
WHAT STOCKS DID.
..u. sat; Fri
nCSS ----------- f1S 3So
UnchAESed - 7S 136
Total issues - $40 713
BY FREDERICK GARDNER,
Associated Press Financial Writer.

"~ AS~N~S -------- of0 fAo
BY FREDERICK GARDNER,
Associated Press Financial Writer.
NEW YORK, Aug. 26-Financial
markets today finished a tense war
scare week" with a further revival
Of peace hopes SUFFICIENT to push up
prices In all categories.
In stocks leaders extended Fridays
brisk rally by / to more than 8
points, while United States Gov
ernment securities, corporate loans
and many foreign bonds put on
recovery show.
The share list moved higher at the
start, faltered bit midway as profit
taking intervened, then came back
to close not far from the days best
levels. Industrials were principally
favored, although utilities were
given a last-minute whirl.
The Associated Presses average of
go stocks added 8 of a point to its
l-point Jump OF the preceding ses-
sion and, at 472, was up 3 of
point on the week, first advance
after four consecutive weeks de-
clines. Transfers of 521.l2O shares
were the largest for Saturday since
July %, and for the six days topped
the previous week by about 1,5O0 900
shares.
Receive Early Boost.
Early inspiration was derived by
speculative quarters from overseas
dispatches indicating Hitler had
given British Ambassador Hender-
son, at their lengthy conference yes
terday, his terms for a settlement
with Poland. Henderson later de-
livered the proposals to Prime Min
lister Chamberlain, who then called
an emergency meeting of his cab
met.
While all frontiers bristled with
military preparations, the general
guess in Wall Street was that hos
tilities would be avoided at least for
the time being At the same time
some commission house customers
inclined to stand aside on the view
anything could happen over the
week end.
Coming too late for much market
effect was word from a reliable in
formant in Berlin that a compro-
mise Of the Nazi-Polish difficulties
was in the making and that "the
danger of a world war is definitely
averted."
Among the days principal share
gamers were U. S. Steel, Bethlehem,
General Motors, Chrysler, Westing-
house, General Electric, Great
Northern, Union Carbide, American
Telephone, American Water Works,
U. S. Rubber, Sears Roebuck, j. 1.
Case, Douglas Aircraft, Eastman
Kodak, Loft, Anaconda, Phelps
Dodge and Standard Oil of N. j.
Domestic News Favorable.
The markets had plenty Of good
domestic news to 60 on. Steel op-
erations, while easing in some other
sections, were scheduled to advance
at Pittsburgh next week to the high
est mark since October, 1887. Ris-
ing automobile production and sales,
mounting carloadings and another
year-to-year increase in department
store sales throughout the country
were seen as bullish straws in the
wind. A stock exchange seat changed
hands for 100000, up $1,000 from a
transaction on August 8.
European markets were closed. but
sterling, unsupported by the British
exchange control, gyrated erratically
considerably under yesterdays New
York rates. Bar gold at London was
lifted to record peak.
Wheat, up usually on war scares,
dipped at Winnipeg and Chicago.
At the latter center it ended down
q to Is cents bushel. Corn was
of "a to %. Cotton was IS cents a
bale lower to 10 cents higher.
Higher by fractions to more than
point in the curb were American
Cyanamid "B," Electric Bond g.
Share, Lockheed and Internal tional
Petroleum. Aluminium CO. shot up
81. Turnover of $4,000 shares was
the best Saturday in a month and
compared with $4,000 a week ago.
Hit Worst on Thursday.
War fears kicked stocks down
Monday, but they came back SUBJ
stantially Tuesday, when construc-
tive Interpretation was placed on
the German-Russion non-aggression
pact. The opinion was reversed
wednesday and the list had its worst
day since April 8. Prices steadied
Thursday on rumors Polish Foreign
Minister Beck was flying to see Hit
Ter, but closed somewhat lower when
the reports could not be confirmed.
The comeback Friday was the best
since July II, and was credited
largely to peace talk based on the
Fuehrers conferences with the Brit
ish Ambassador and ENJOYS of Italy,
France and Japan.