Evening star., 1939-09-03
Stock Rally Checked
As Allies Delay
War Action
Many Leaders Retoin
Large Port Of Sharp
Early Coins
~ NNEDLNIVM uAUONENl
Associated Press Financial Writer.

Associated Press Financial Writer.
NEW YORK, Sept. 2-Another
stock market war baby" boom was
stemmed today as Great Britain and
France delayed action against Hitler
and traders decided to cash profits
on the upsurge.
At that, the market, as a whole,
finished the week with an advancing
stride. Steels, coppers, rubbers, oils,
sugars, chemicals and aircrafts held
sizable portions Of initial gains run
ming to more than S points In the
two-hour proceedings.
Feverish buying of issues that
would benefit If a general European
explosion occurs swept over the
market at the start. Blocks of 1000
TO 10000 shares of such stocks as
U. S. Steel, Bethlehem and Republic
Steel changed hands in the rush to
get aboard. For nearly 40 minutes
the ticker tape was as much as three
minutes behind floor transactions.
Ihere was a subsequent slow w-down,
but the recording machinery again
was in arrears for time in the flnal
hour as prices receded.
Volume Expands.
The turnover In the first hour
topped 100000. For the two hours
volume amounted to 1,79l25o
shares, largest for a Saturday since
November %, 1887. 1t compared with
! 1866 $3.50 for the full session yester-
DAY. The Associated Press average
OF 90 issues was up 06 of a point at
46.7, its first advance after three
consecutive declines. On the week
the composite showed a loss of o.5
Of point. '
Finishing well ahead were U. s.
steel. Bethlehem, Anaconda, Ameri-
can smelling, Goodyear, American
sugar Refining, Allied Chemical. Du
Pont, Dow Chemical, Union Carbide
Westinghouse. Texas Corp, United
aircraft, International Harvester,
General Motors and American
Smelling.
Moderate losers included Amer
lcan Telephone, Montgomery Ward,
North American, Philip Morris
commonwealth Edison, Pacific Ga,
Johns-Manville, Loft and Loews
aluminium Co. shot up 7 in the
curo and gains ranging to more
than 4 were recorded for Midyale
Corp, Creole Petroleum. Electric
Bond d. Share, Jones e. Lauehlin
Lockheed, Bell Aircraft and Amer
ican Cyanamid "B." Turnover OF
zIoooo shares was the largest Sat-
uroay session since April and
compared with $4,000 a week ago,
Bond Market Improves.
Bonds, while mixed, did better
selectively. United States Govern.
ments, however, continued the re-
treat. Foreign dollar loans we're
irregular. The soaring war staples
OF Friday took a rest and several
stepped down. Wheat at Chicago
was up % to 3's cents after rising
the limit in some contracts. Corn
was on as to ahead 2sa. Cotton
lost rs to 10 cents a bale.
Wool, lead and copper futures
retained portions Of early advances
but cocoa, rubber and hides ended
lower. Domestic copper was raised
4 OF a cent pound to II cents,
highest since last April and the
second consecutive advance. Zinc
was also hoisted
American issues pushed up In
Amsterdam. only important Euro
pean market open. Sterling again
was loser, but tended to steady at
the last.
Markets were under the spell
OF the European news throughout
the week. Stocks dipped Monday as
war threats increased. There was
an upturn Tuesday when the note
writing between the British and
Nazis aroused peace hopes. The
list slipped Wednesday, Thursday
and early Friday, after the German
invasion of Poland but one of the
most spectacular upward reversals
IN many years shot the war stocks
higher.