Evening star., 1941-12-28
Fast Rally Ends
Poor Week on
Stock Market
Tobacco, Steel Shares
Lead Brood Rise
Of Fractions to 81
Total iSSu,
BY BERNARD S. OHARA,

BY BERNARD 5. OHARA,
Associated Press Financial Writer.
NEW YORK, Dec. 27.-The stock
market today ended another disap-
pointing week with the speediest
Saturday rally in more than a year
and a half, led by tobaccos and
steels
While numerous issues still were
depressed by exceptionally heavy tax
selling and far from pleasing Pacific
war news, the laSt-minute upSWing
tackled gains of fractions to 2 points
on wide assortment of favorites
and as much as 4 or SO on isolated
stocks
Notably irregular trends were in
evidence at the start and it was not
until the final hour that the climb
really got under way. This was
touched off by the announcement
one OF the principal manufacturers
had boosted the price of its leading
brand of cigarettes and others were
expected to follow.
Brisk Bidding Started.
Fast bidding soon hit issues of
American Tobacco, Liggett & Myers
ana reynolds, and the common and
b stocks Of these concerns emerged
with advances of 15s to 4l4 points
Steels stepped into the van as next
weeks mill operations were expected
to rebound substantially. United
States Steel held a recovery of Ia
and Bethlehem Ia.
The Associated Press average of 60
stocks concluded with a net plus
sign of 3 of point at 35.7, best
day improvement of the week. but
Tor the five-day stretch was off 3.
Inc tWo-hour turnover of l,l62IlO
SHARES was the largest for any Satur-
day since May 18, 1910, and COM
pared with 628,550 a week ago. 1t
was also the broadest short session
since the 1910 date, 1863 individual
issues being traded. 1t was not
one-Way street. however, as exempli-
ned by the fact that against $40 ad-
vances there were 26l declines and
Z62 stocks UNCHANGED.
fallS old well as freight loadings
OF the previous week disclosed q
less than seasonal decrease. Union
Paclflc, down TO a new l94l bottom
at one time, came out with a net
gam OF 1as. Santa Fe and Southern
railway were up u each.
A. T. & T. Joins Climb,
Prominent on the forward swing
were American Telephone, one of
the weakest movers in recent davs
which converted an early loss into
a gam OF 2l2 points. Others in
front included Kennecott. Phelps
Dodge. Du Pont, WESTINGHOUSE, AL
lied Chemical, Philip Morris. j. +
Case, Douglas Aircraft and Johns
Manville.
Goodyear, Goodrich and United
States Rubber were in the losing
column as strict rationing of tires
was decreed by Federal authorities
to begin January S. Motors, also
affected by the rubber shortage, did
virtually nothing. On the offside
were American Can, Texas Co.,
Standard Oil New Jersey, General
Electric and United States Gypsum.
Improved in the Curb were Amer
ican Gas, Electric Bond & Share. E.
w. Bliss, American Cyanamid and
Pantepec. Transfers here were
around 100000 shares, compared
with $4,000 last Saturday.
Average prices on the big board
Monday struck their lowest level
since April l. 1888, as the japanese
struck at the Philippines and tax
liquidation was pronounced. Reports
the Nipponese invasion was being
stemmed helped the market to keep
about even Tuesday. There was
mild revival Wednesday as confer
ences between Prime Minister
Churchill and President Roosevelt
aroused hopes of a sitter campaign
against the Axis powers. After the
intervening Christmas holiday there
was little change for the better in
the news and Fridays trends were
shade downward.