Evening star., 1939-10-01
BY FREDERICK GARDNER,
.Avconlotad Draec Tiv a ', cial "ritor


NEW YORK, Sept. 30.-The stock
market wound up the week today
with broad rally in the war in
FAINT" shares which spread to other
sections of the list, more than wiping
out the attrition of five preceding
days of irregular or declining prices.
The upsurge began with the open
ing and continued throughout the
short session. with leaders at their
best, up fractions to around points
at the finish.
Business was active for Saturday
and transfers totaled 843, $40 shares,
compared with 562,46O a week ago
The Associated Press average of 60
representative stocks climbed 8 of
point at 532. On the week the
average gained 4 of point Weekly
transactions totaied 8,825 ,29O shares,
against 1868 300 in the preceding
period.
Reversal of yesterdays downswing
was attributed largely to the con-
viction of many traders France and
Great Britain would shun the peace
dove which flew from the joint
Russo-German cote at Moscow Fri
day morning.
Long Conflict Seen.
Other developments in Europe
pointed to a prolonged conflict
should any German overtures be
rejected. This was taken to mean
that eventually United States man
ufacturers and producers of raw
products would be called upon to
serve, not alone the neutral coun-
tries which have traded with the
fighting nations, but the belliger-
ents as we'll
Brokers were puzzled over the i'm
plications of new diplomatic moves
by Turkey and Rumania 1t was
reported Turkey was willing to sign
mutual assistance pacts with France
and Britain, with the proviso that
if they fought Russia the agreements
would be annulled. Then, too. it was
said. Turkey might promise Moscow
to close the Black Sea to belli-
gerents, thus preventing the allies
from going to the aid of Rumania
were she attacked, or hitting at
Germany from the south and east.
Rumania sent her foreign minister
to Moscow
The Senate fight over the neutral
ity measure was regarded as of less
Importance than in the previous
week. 1t was pointed out the present
measure permits the shipments of
products not regarded as implements
of war to any of the hostile nations,
and that there has been no move to
abandon that plan. A cash-and-
carry bill permitting sales of war
material would permit some COM
panies specializing in aircraft NUM-
tions, armor plate and the like to
hustle up business abroad, but. 1t
was said, would restrict the opera
tions of American shipping.
Steels Favored Most.
Steels were most favored in today's
session, with United States Steel
the most active performer of the
day. The fact the mill rate for the
week was at its best since October,
1887. aided sentiment for this di-
vision. as did predictions that opera
tions in most districts would increase
next week.
Rails were supported on the basis
of estimated carloadings for the
week would show a good increase,
and carrier equipment shares joined
in as additional huge orders poured
in for them.
Heavy gamers included United
States Steel. up AS at 1885: Beth
lehem. at 93ss, up SIS; Douglas Air
craft, 777s, up 31s; Du Pont, 184A,
up Al. and Westinghouse Electric,
1872, up 3.
Others we'll forward included
Chrysler, General Motors. Good
year, International Harvester,
Sperry, American Telephone, West
ern Union, Santa Fe, Southern Pa
cific, Great Northern, Pullman,
Baldwin Locomotive. Union Carbide
and Allied Chemical.