Evening star., 1940-01-28
Stocks Continue
|nNarrow Rut;
Trading Lags
Aircrofts and Some
SpeciuIties Provide
Only Action
Total issues
By FREDERICK GARDNER,

Associated Press FINANCIAL WRITER.
NEW YORK, Jan. 27.-Buyers
made idle passes at aircrafts and
few specialties in today's stock
market but the list as a whole ended
the week with hardly trace of a
trend.
Business news was spotty and the
inability of Wall Street to put a
finger on the national political drift
served to dim the speculative urge
in financial quarters.
Activity of several low-priced
issues such as Commonwealth e.
Southern, United Corp, and Con-
tinental Motors, which turned over
in blocks of 10000 to 12,600 shares
at virtually the same level where
they finished Friday, provided the
main feature of the brief session.
Elsewhere dealings were sluggish
throughout. Many issues failed to
appear on the ticker tape and, at
the close, minor losses and declines
were about evenly split.
Average Is Unchanged.
The Associated Press average of
go stocks was unchanged at 499,
but on the week was up 2 of q point.
A year ago the composite stood at
48.l. Transfers totaled 3l7,28O
shares compared with 271 Ito last
Saturday. Volume for the six days
was the smallest since the week
ended November Is.
Despite the general indifference
in the two-hour proceedings, there
were several new 1939-40 highs
posted. Among these were Loft,
Trans Continental & Western Air
and Dow Chemical.
Gamers of moderate amounts in
cluded Douglas Aircraft, Lockhead,
Bendix, Speery, Wilson g. Co., Ar
mour, Standard Gas preferreds,
Santa Fe, New York Central, Ana
conda and Kennecott.
Bethlehem continued to reflect the
disclosure of the best final quarter
in 10 years, but United States Steel
slipped a shade. Clouding this group
were forecasts of another drop in
next weeks mill operations.
Further talk of pending heavy
purchases of warplanes by the
British and French aided the avia-
tions.
Chrysler Declines.
General Motors was unchanged
and Chrysler OF q BIT as reports Of
slackening sales in some centers
were heard. Easier were Mont
eomery Ward, American Power &
Light preferreds, Du Pont, Western
Union, Standard Oil of New Jersey
and General Electric.
Trafnc optimism expressed by rail
executives at a meeting in Pitts
burgh propped carrier stocks.
Higher by fractions in the curb
were Bell Aircraft, Brewster Aeron-
autical and American Cyanamid
B." Republic Aviation and Ameri-
can Gas & Electric slipped back q
notch. Turnover of $4,000 shares
compared with $4,000 a week ago.
The week started with minor
setback in stocks, with falling steels
rejecting dwindling production and
orders. Dealings we're the smallest
for any full session since November
4. Prices did virtually nothing Tues
day. The market had it's best day
Wednesday with the 60-stock aver
age up 0.5 of a point and activity
the briskest of the week. Steels
came back, aided by aircrafts. The
revival was credited to the belief of
some that the wavering business
curve may have been discounted and
that the list "oversold." There was
a mild retreat Thursday on profit
taking. Friday, while strength was
evident here and there following the
better than expected Bethlehem
profits statement, the averages got
nowhere.