Evening star., 1940-03-10
By FREDERICK GARDNER,
Associated Press Financial Writer.


NEW YORK, March 9.-The stock
market today ended a generally
satisfactory week on an indecisive
note.
Possibilities of important Euro
| pean developments over the week
end, mainly involved in the Russian
Finnish peace move, caused many
traders to cash profits and shelve
commitments to be on the safe side.
At the same time a number of
specialties. including airplanes and
motor equipments, presented a re-
sistant front and edged into new
high ground for the year. Closing
prices in virtually all groups,
though, were decidedly irregular.
Steels and aircrafts skidded, along
with rails and coppers, but, except
for isolated issues, declines were IN
small fractions.
The Associated Press average OF
60 stocks was up i of point at
SOL. On the week this composite
showed net advance of Z of a
point. A month ago the barometer
stood at 504 and a year ago at 532
Transfers for the two hours totaled
33l ,080 shares, against 274,7l0 last
Saturday.
Post New 1910 Tops.
Posting new 1910 tops were Amer
lean Airlines, Eastern Air Lines,
Checker Cab. Packard and Ameri-
can Telephone.
Improvement was recorded for
Chrysler, Motors Products, Ameri-
can Can, Westinghouse, Eastman
Kodak, J. c. Penney. Du Pont and
Standard Oil Of N J.
Lower were U. S. Steel, Bethle-
hem. U. S. Rubber, Douglas Air
chaft, United Aircraft, Glenn Mar
tin, Anaconda. Allied Chemical,
Santa Fe and Texas Corp.
Automotive accessory shares were
enlivened by the belief some of
these companies which are able to
handle airplane and armament
equipment manufacturing as side
line will benefit by heavy orders
expected to be placed by the Brit
ish and French in this country.
Air transportation stocks were
aided by reports of growing passen-
ger travel in the skyways which,
| 1t was hoped, would be reflected in
earnings. Motor stocks. while fall
ing to get far out In front, main
tanned a steady course as attention
| Sti11 moe rorforad ~, oJ;r.h;1~ z,,x
put in this industry.
Steels were cloudy after slightly
better start. Obstructing these
shares were forecasts mill opera
tions next week would again de-
cline. Observers now are of the
opinion production will slide to go
per cent Of capacity or lower before
the tide turns. An upward rever-
sal was not looked for before April.
Store Gains Hailed.
Engendering some optimism was
an increase of per cent in last
weeks national department store
sales over year ago. The year.
to-year gain in the previous week
was per cent.
Commodities, soft most of the
day, rallied at the last. Wheat
at Chicago ended up q to 1as cents
a bushel and corn gained u to u .
Cotton advanced S to is cents a
bale. Bonds displayed selective
f1rmness.
Although the curb was a bit
ragged, Standard Oil of Ohio added
more points to its 3-point Jump
OF yesterday. Niagara Hudson and
Republic Aviation were shade bet
ter. On the offside were Bell Air
craft, Brewster Aeronautical and
American Gas. Transfers were
around $1,000 shares, compared with
100000 a week ago.
Stocks began the week with q
sldeWlse shift that left the aver
ages unchanged. Buying of steels
and aircrafts Tuesday, on brighten
ing prospects of larger European
war purchases, gave the list a lift.
Leaders continued the upswing for
the best gains of the week on
Wednesday with an assortment of
favorites climbing into new peak
territory for the year., Signs of
a dattening out of the recent in
dustr1al recession were cited as the
main buoying influence. Advances
narrowed Thursday, but specialties
exhibited strength as earnings
statements provided considerable
cheer. Skeptical speculative forces
stood aside Friday and most leaders
ended under water.