Evening star., 1940-01-21
BY FREDERICK GARDNER,
Associated Press Fina ncial Writer.

Annotated Press Financial Writer.
NEW YORK, Jan. 20.-Stocks
swung over a narrow range in to-
days market but, with the aid of
few specialties, managed to finish
the week on a mildly rising note.
Despite blocks of 5000 to 10000
shares of low-priced issues such as
Commonwealth g. Southern, which
closed unchanged at rs, the turn
over of 27l,170 shares was the
smallest since December 9. 1t COM
pared with 424,130 last Saturday.
The weeks volume of 3,377 800
shares was about 1000 900 under the
preceding week and was the lowest
since the period ending November Is.
The Associated Press average of
60 issues managed to hold on to
gain of i Of point at 49.7 and,
for the week. was up 2. A year
ago the composite stood at 500.
News Fairly Cheerful.
The news of the day, while fairly
cheerful, provided scant speculative
stimulation. Brokers though part
of the buying timidity was due to
fears Of larger European liquidation
II the market ever gets up point
or two. Light selling from abroad,
it was said, has been just enough to
put brakes on various rallying at
tempts.
Strongest stocks of the brief ses-
sion were those of Brooklyn Man.
haitian Transit. The common and
preferred advanced l to 3 in the
wake of reports the r. F. c. would
grant the companys application for
s2000,000 loan to assist in uni
fication plans
Standard Gas g. Electric ppeferreds
came back moderately following re-
cent weakness 1t was understood
the S. E. c. was inquiring into the
cause of the sharp break in this
company's securities.
Up fractions to point were West
inghouse. Great Northern. Western
Union. Worthington Pump. Lock-
heed and Texas Corp.
Bethlehem Steel was a shade i'm
proved, but United States Steel
dipped. These were handicapped
by forecasts of another decline in
mill operations.
General Motors and Chrysler gave
ground Notwithstanding announce
ments Of satisfactory sales of new
cars by other manufacturers in the
first part of the current month
Anaconda and Kennecott slipped as
softening copper prices presented
difiiculties for the industry.
Rails Hold Attention.
Rails did relatively well on the
strength of continued traffic ex-
pansion and prospects of higher net
revenues for the principal roads.
Marked up fractionally in the
curb were American Cyanamid "B",
Electric Bond g. Share, American
Gas & Electric and Brewster Areo.
Fisk Rubber and Humble Oil slid
off a trifle Turnover of $4,000
shares smallest since August 10,
compared with $4,000 week ago.
Stocks fell on the best volume
OF the week on Monday, but cut
losses substantially at the close.
Questions of foreign liquidation,
new taxes and the cloudy political
picture were believed to have been
the disturbing factors. There was
quiet recovery Tuesday, some buy
ing coming in on the theory four
consecutive declining sessions called
for at least temporary upward
correction
The list did virtually nothing
Wednesday as news inspiration was
lacking. Steels backed down Thurs
day and unsettled other groups. A
few specialties, led by Standard
Brands, moved against the trend.
Aviations came to life Friday, re-
f1ecting pleasing earnings state
ment by Lockheed, and enabled the
market to retain modest gains.