Evening star., 1940-04-14
Selected Stocks Up,
Others Remain in
Narrow Ruf
Aviation, ShipbuiIding
And Few Others Rise;
Trading Pace Slow
BY FREDERICK GARDNER,
Associated Press Financial Writer.

ASsOClhteu FIchS FlHAnClAl WTlter.
NEW YORK, April 13.-Leaders
generally fingered by the wayside in
today's stock market, while aviation,
shipbuilding and an assortment of
speciality issues finished the week
with a strong upward trend.
Prices were mixed from the start
and, at the close, losses and gains
running to as much as points were
pretty evenly divided A number of
favorites bounced into new high ter
ritory for the year or longer.
The days news provided scant in
splration either way and many
traders cleared decks for possible
foreign eventualities over the week
end. Lack of definite information
regarding the British German con-
f1ict in Scandinavia served to dim
speculative ardor in the majority of
cases. Then, too, the cut in steel
quotations yesterday still was a chill
ing market factor.
Shipbuilding Issues Gain.
The brighter outlook for the ship
ping industry, due to bigger naval
construction and replacement of
European war sinkings, brought sup
port for stocks in this group. Air
craft and air transport shares re-
f1ected the likelihood of larger orders
for fighting planes from the allies
and rapidly expanding domestic pas
senger traffic. Earnings prospects
brought followings to individual
issues.
The Associated Press average of
60 stocks was unchanged at 506,s but
on the week showed a decline of 8
Of a point after three consecutive
weekly upturns. Transfers totaled
495, ,370 shares, smallest since March
%, against 7l0,470 last Saturday.
Touching new 1910 peaks were
Douglas Aircraft, United Aircraft,
Lockheed, American Airlines, East
ern Air Lines. Willys-Overland COM
mon and preferred. Electric Boat,
New York Shipbuilding. American
Hawaiian Steamship, Martin Parry
and Chickasha Cotton Oil.
Motor Leaders Higher.
General Motors and Chrysler were
up 4 each as talk OF record first
quarter net for these companies was
heard. Improved also were Aviation
Corp, Glenn Martin. Allied Chem
ical, Eastman Kodak, Texas Corp,
Anaconda and Montgomery Ward.
U. S. Steel and Bethlehem held
minus marks to fractions, getting
some support on forecasts next
weeks mill operations might be up
little. Easier were N. Y. Gen.
trail, Great Northern, Consolidated
Edison, U. S. Rubber, Westinghouse
and Standard Oil of N. j.
In the curb Aluminium of America
shot up AZ to 1874. Lesser i'm
provement was registered for Bell
Aircraft, Brewster Aero and Bath
Ironworks. Of bit were Gulf Oil,
Humble Oil and Republic Aviation.
The turnover here was about no.
900 shares, compared with $1,000
a week ago.
Rail Bonds Improve. -
Low-priced railroad issues COM
manded wide interest in the bond
market, many rising major fractions
to around 3 points. The general
run Of corporate, Government and
some foreign dollar loans tilted up
ward.
Announcement at Washington
that the Interstate Commerce Com
mission had issued a plan of reor-
ganization for the Erie Railroad
which sharply scaled down its cap
italization and fixed charges found
immediate echo in that company's
listed bonds, which advanced from
u to 3ss points.
Active and higher elsewhere we're
Montana Power 3as at 10l14, Postal
Telegraph IS at "a, Porto Rican
American Tobacco IS at 83k, Allie
ghany stamped IS at As, Armour
As at 103la and Bethlehem Steel
31as at Ill.
International Telephone SIS were
under water for a loss OF " points
at 41A, rehecting, presumably, fur
ther uncertainty over the companys
foreign operations.
Dollar bonds of Norway, Denmark
and Italy were higher, but declines
occurred in those of Belgium, Es-
tonia. City Of Milan and France.
Total sales of $3,256. 900, par value,
compared with $4,850,00O last Sat-
urday.