Evening star., 1939-04-30
BY FREDERICK GARDNER,
Associated Press Financial Writer.


NEW YORK, April 29.-News from
Europe and developments on the
home front provided little specula-
tive inspiration today and the stock
market ended an apathetic week In
an exceptionally narrow groove.
A little buying in steels and mo-
tors helped to steady the list at the
finish Of today's brief proceedings,
but definite trends were notably alb
sent. While small fractional gains
predominated, minor declines were
plentiful.
1t was one of the lightest sessions
In nearly q year, transfers for the
two hours totaling 1880 shares.
This compared with turnover last
Saturday Of 154,960, which was the
lowest aggregate since June 18 last.
The volume for April amounted to
20,247,4 ,438 shares, against 24,563,174
in March.
The Associated Press average Of 80
stocks was up i of a point at 442,
but on the week was unchanged.
Remain Cautious.
After sleeping on yesterdays
speech Of Hitler, answering the peace
plea Of President Roosevelt, most
traders came to the conclusion that
the crossword war puzzle was long
way from being solved. Realizing
many Nazi coups have come over the
week end, the inclination was to keep
commitments at minimum or avoid
the market entirely.
Steels, backward at the start, were
given a belated lift on hopes the
Soft coal tieup. presently an influ-
ence in dwindling mill operations,
would be settled by the start of next
week. Also some buying came into
this group on the thought recent
prices may have discounted slacken-
ing production.
Although automotive output ap-
parently has passed the spring peak,
there was timid nibbling at motor
shares on reports sales were main
tanning satisfactory levels.
Although informed financial quar-
ters continued Of the opinion a new
world war was hardly likely now,
and that the Fuehrer left the door
open trifle for an amicable set
tlement Of Nazi demands, the con-
census was that markets would con-
tinue to be affected by overseas
crises.
Among shares moderately ahead
today were u s. Steel, Bethlehem,
Chrysler. General Motors. Santa Fe,
Southern Pacific, American Smelt-
ing, Montgomery Ward, Interna-
tional Harvester, Allied Chemical
and Du Pont.
Crosley Shares Rise.
Crosley was fairly active and
higher on announcement of plans
for new low-priced car.
Behind were American Telephone,
Consolidated Edison. Douglas Air
craft, United Aircraft, Anaconda.
Westinghouse. General Electric and
American Can.
Shaded downward In the curb
were Electric Bond & Share, Lock-
heed and Niagara Hudson Power.
American Cyanamid "B" moved up
fractionally. Turnover of $4,000
shares was the smallest Saturday
since August q last year and COM
pared with 77,0O0 a week ago.
The weeks performance of the
stock list shifted almost wholly with
European currents and everything
seemingly waited the Hitler reply
Friday to President Roosevelt's
peace appeal. The somewhat less
belligerent tone Of the speech
brought an early upturn in prices,
but was followed by a quick retreat.
Rails held fairly we'll during the
week as freight loadings the week
before showed more than seasonal
increase due to heavy coal ship
ments from outside the suspended
Appalachian fields. Aircrafts were
given a run when the War Depart
ment placed orders for ST. fighting
craft.