Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-09-22
BY FREDERICK GARDNER,

by FkEDEklCk OAkDNEH,
Associated Press Financial Writer.
NEW YORK, Sept. 2l.-Financial
markets today ended a generally sat-
isfactory week on the rising side.
Buying interest ceptered mainly
in the heavy industries stocks and a
wide assortment of preferred issues
A number of the latter, trading in
lots of 10 shares, pushed up to
around 7 points to new 1910 highs.
Gains elsewhere ranged from frac-
lions to around point.
The turnover of 258.880 shares was
the best for any Saturday SO far
this month and compared with 1861
800 week ago. The Associate
Press average of 60 stocks, after
being unchanged in the two preced-
ing sessions, posted an advance of 3
Of point at 44.4. The composite
showed net gain on the week of
1.3 points. A month ago it stood at
42.3 and year ago 81 528.
War Outlook Improves.
Stronger fighting resistance dis
played by the British combined with
the thought that Hitler's plans for
the invasion of England may have
gone awry, did much to prop specu-
lative sentiment, brokers said.
Frightening business and industrial
indicators at home continued as a
bolstering market influence. Many
traders, at the same time. kept COM
mitments light as a weekend pre-
caution on the theory a European
upset was not altogether an i'm
possibility.
Among prominent preferred shares
on the upswing were those of Amer
lean Locomotive, American Car &
Foundry Pittsburgh Steel, Otis Steel,
Celotex. Budd Manufacturing Jones
IL Laughlin and Meneel.
Better performers il the junior
class included United States Steel,
Bethlehem, Sears Roebuck, Mont
gomery Ward. J. l. Case, Interna-
tional Harvester. Deere, Lockheed.
Sperry, Westinghouse, Dow Chem
ical, General Electric, Kennecott,
American Smelling, Santa Fe, New
York Central, American Locomotive
and United States Rubber.
Narrow were General Motors,
Chrysler. Consolidated Edison, Great
Northern, Anaconda and Douglas
Aircraft.
Store Report Cheerful.
Helpful marketwise was the Fed
eral Reserve survey disclosing de-
partment store sales o. the Nation
were holding well above last year;
larger takings Of steet and copper,
both by governmental and private
sources; stable inquiries for rail
equipment and expanding purchases
OF farm machinery, said to be cur
rently running 20 to 25 per cent
ahead of 1929.
Rail and Argentine dollar loans
achieved degree Of popularity in
the bond department Commodities
were fairly steady Wheat at Chi
cago was unchanged tc off 4 of a
cent a bushel and corr off /. to I'D
Is. Cotton was up S cents a bale
to off 20 cents.
Jones & Laughlin common was up
21s in the Curb. Lesser gamers were
Glen Alden Coal, Bath Iron Works.
Bell Aircraft, American Cyanamid
B. and Standard Steel Spring
Volume here was around $4,000
shares compared with $4,000 last
Saturday.
Favorable interpretations of war
and business news aided stocks to
edge upward on balance Monday,
Tuesday and Wednesday, making it
four straight rising sessions. The
list then marked time Thursday and
Friday, as some thought was given
to the chance of technical reac-
ton after the lengthy recovery.
Profit taking handicapped the ad-
vance in the final two full sessions.