Evening star., 1941-12-14
Selected Stocks
Stage Recovery
Al Week SIND
Arms Shores Fuvored, ,
Gain Fractions to
81 q Share or More
WHAT STOCKS DID
BY BERNARD S. O'HARA,
Associated Prex Financial Writer.


NEW, YORK, Dec. 13.-After It's
worst week in more than year and
a half the stock market today re-
ceived sufficient encouragement from
the war news to dig in on a selec-
tive recovery front.
Main strength was displayed by
issues standing to benefit from the
broadening armament program and
these generally pinned on gains
ranging from fractions to a point
or SO. Numerous leaders, though,
were unable to follow through and
finished we'll back in the minus
column.
Heartening to bullish forces were
reports of American offenslves IN
the Pacific, Russian claims OF big
victories against the Nazis, lndica-
tions the British were holding In
Malaya and pushing ahead in Africa
and word of the sinking OF another
Italian cruiser in the Mediterran-
can. Bulletins anent the probable
fall of Guam to the Japanese came
after the conclusion OF market trans
actions.
Drawbacks Seen.
There were drawbacks on the
home industrial front, however, such
as the outlook for huge taxes, more
Government controls and the ex-
pectation production of automobiles
for civilian use soon would cease
entirely. In addition, prospects Tor
further restrictions on consumers
goods. including tires and ruooer
products, helped chill a number OF
stocks.
The Associated Press average OF
60 stocks was unchanged at sos
hut on the week was OF % points,
biggest drop since May, 1910. Deal
incs we're lively during most OF tne
proceedings and transfers OF o@'3lo
shares topped any other SATURDAY
since December % a year ago. They
compared with last weeks two-hour
total of $1,000. The weeks aggre-
gate of 9820,381 shares was ABOUT
4 non 600 above the preceding week
and largest since May last year.
prominent among the days gain
ers were United States Steel, Beth
lehem. Douglas Aircraft, United AIR
craft American Telephone. DOW
chemical, Du Pont, Phelps Dooge'
Anaconda. American Smelling. East
man Kodak, Johns s-Manville ana
Chesapeake & Ohio.
Motors at New Lows.
chrysler fell 2 points to new
1e41 low, along with General Motors
and Sears Roebuck. Backward also
were United States Rubber. Gooo-
rich. Montgomery Ward, American
Can, Allied Chemical and union
Carbide
In the curb modest advances we's
held BY Gulf Oil, Humble OIL New
Jersey Zinc and Creole Petroleum
On the offside were American Gas,
cessna Aircraft and Pittsburgh
plate Glass. Turnover here was
around 113 900 shares versus 10l ,OOC
last Saturday.
The surprise attack Of the Jap
anese on Hawaii Sunday touched on
a sharp decline Of the big board
Monday. War nervousness, accentu'
ated by false AFRAID alarms on the
Atlantic Seaboard Tuesday, drove
the averages down to the lowest leve
since April, 1898. The list was under
better control Wednesday. On the
belief 1t had been "oversold" and
that the war declarations against the
United States by Germany and Italy
and the formers retaliatory steps
had been discounted, there was q
brisk rally Thursday. Prices slipped
Friday as profits were cashed on the
one-day upswing. Business develop
ments of the week provided nothing
much in the way Of speculative in
spiration.