Evening star., 1940-06-16
BY FREDERICK GARDNER,

Associated Press Financial Writer.
NEW YORK, June 15.-The stock
market again shook off war worries
and concentrated on home business
prospects today with the result lead
ing issues stepped out of generally
bullish week we'll on the advancing
side.
Steels, along with other assorted
war stocks, were principally favored
and, at the best, gains ranged from
l to more than 3 points. Top marks
were halved in many cases at the
close, at traders ightened COM
mitments pending possibly un-
settling news from abroad over the
week end.
Highest price levels were attained
in the first hour when activity was
most pronounced. The pace slowed
as profits were cashed
The Associated Press average of
go stocks was up 04 of point at
400 and, on the week, registered
a net gain of 27 points, best show
ing for any week since early last
September. Transfers of 559,l7O
shares compared with 1920 last
Saturday. The six-day turnover of
around 100000 shares just about
doubled that Of the previous week
Defense Plans Watched.
While the plight of France, with
fears Of an enforced peace, was
viewed as far from cheerful in
Wall Street, buying sentiment was
still bolstered by the big defense
program at home and the likelihood
OF British purchases of war ma
terials taking sharp jump.
Heartening buyers of shares also
were forecasts of another run-up in
next weeks mill operations, a brisk
expansion in last weeks department
store sales, widening distribution of
new automobiles in the early part
OF June and heavier demand for
copper.
III was not one-Way market to-
day, despite the predominance of
plus signs. Aircrafts backed aWav
apparently on the thought of French
cancellation Of plane orders. al
though it was believed the United
States would take everything that
could be turned out in the aviation
field.
Stocks finishing ahead included
United States Steel, Bethlehem
Crucible. Chiysler American Tele-
phone, Dow Chemical Westing-
mouse, Union Carbide, Eastman Ko-
oak' Loft, American Car & Foundry,
Santa Fe, Anaconda, Kennecott
Sears Roebuck and Consolidated
Edison.
On the offside as much as a point
or so were Douglas Aircraft, United
Alrcraft, Lockheed, Sperry, Glenn
Martin, Allied Chemical. Texas
Corp. and United States Gypsum,
Advance on Curb.
among curb gamers of fractions
to point were Aluminium of Amer
lea, American Gas. Gulf Oil. Electric
Bond & Share and Bell Aircraft
The turnover here was around 64-
oo0 shares against $4,000 a week
ago
Stocks suffered their only real
flop of the week on Monday in
the wake of Mussolinis plunge into
the war. The Associated Press
average fell to a new bottom since
April 7, 1888 There was a brisk
comeback Tuesday, partly on the
theory the market had been "over-
sold and partly because of the
Improving outlook for industry.
The rally gained momentum
Wednesday, with average prices en-
Joying the best upturn since Sep
tember S, last. Rearmament spend
ing plans were credited mainly for
the bulge. Prices backed away Thurs
day as nervousness revived coinci-
dent with the progress of the Nazi
French invasion. Prices snapped
into another recovery Friday despite
the fall of Paris to the Germans.
which, it was suggested, might have
been pretty we'll discounted.