Evening star., 1939-05-07
Stock Leaders .Edqe
Ahead FractionaI|y
In Slow Trading
Apprehension Over Coal
Tieup Regarded as
Factor in lull
WHAT STOCKS DID.
BY FREDERICK GARDNER,

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Associated Press Financial Writer.
NEW YORK, May Elm another
one OF the most sluggish sessions
since last June, the stock market
today managed to edge out OF the
week with minor fractional ad-
vances in the majority.
European developments provided
little inspiration either way, and
domestic news was more or less a
standoff. Although selling was
negligible throughout, demand was
equally light as traders followed
the customary procedure OF recent
months In keeping commitments at
a minimum over the week end.
Transfers for the two hours to-
tailed 176,75O shares, against 172,-
800 last Saturday. The Associated
Press average of so issues was up
L of a point at ASS. On the week
this composite posted a net ad-
vance of 1.3 points.
Apprehension over the soft coal
tieup, brokers said, was partly re-
sponsible for the days apathy. Hope
for settlement here, though, was
revived when President Roosevelt
intervened with a call on dead
locked operators and miners to ad-
Just their differences quickly in or
der to prevent serious industrial
plant tieups.
Confusion Increases.
The German-Polish row over
Danzig efforts of Great Britain to
bring Soviet Russia into a limited
military alliance and reports the
Pope had approached the powers
with definite overtures for peace,
served mainly to heighten the con-
fusion which exists In Wall Street
regarding foreign affairs.
Stocks finishing with their heads
moderately above water included
Bethlehem Steel, Chrysler. Good
year. Montgomery Ward, Sears Roe
buck, United Aircraft. Glenn Mar
tin, New York Central, Great
Northern, Anaconda, North Amer
ican, Westinghouse and Texas Corp.
A shade behind were United States
Steel, General Motors, Santa Fe,
American Telephone, General Elec-
trio, Union Carbide and Consoli-
dated Edison.
Likelihood of a further decline in
steel mill operations next week, due
partly to fuel shortage, was a re-
straining factor for these shares.
Motors were Indifferent as sales
prospects for the automobile makers
were reported none too bright. A
pickup in last weeks department
store sales helped merchandising
stocks.
Axton Fisher "A" Scars.
In the curb Axton Fisher "a"
moved up 21s and fractional gains
were scored by American Cyananid
"B' and Consolidated Copper.
Humble Oil and Lockheed fell back
narrowly Turnover of 10000 shares
was the smallest for any Saturday
since August q last year and COM
pared with $4,000 week ago.
Market consideration during the
week was given to a more than sea-
sonal upturn in last weeks freight
loadings and an equally sharp drop
in the current weeks motor car
production. The steel operating rate
also continued its decline.
Sentiment in the week was aided
a bit by the somewhat conciliatory
speech by Polish Foreign Minister
Beck in answer to Nazi demands for
Danzig and right of way through
the Polish Corridor, but markets
were not particularly responsive.
The mysterious resignation of Soviet
Foreign Minister Litvinoff tended to
check speculative ardor, as thought
was given to the suggestion the Bol-
sheviks might be leaning toward a
Hitler alliance and thus further
complicating the international line
up.