Evening star., 1941-08-03
Stocks Display
Wearinessa as
Week Closes
Profit Selling Cuts
Rail Shares Coins,
But Textiles Score
WHAT STOCKS DID,
BY BERNARD S. OHARA,
Associated Press Financial Writer.

HSSONldtCu EitsS LldLIldA "IlLtTs
NEW YORK. Aug. 2.-While the
stock market toda yended its sixth
successive recovery week with dis
play of Weariness, cotton and grain
futures enjoyed one of their best
sessions in several years.
Commodities were spurred by pro-
posals in the price control bill to be
presented to Congress substantially
lifting ceilings for farm products.
Cotton jumped around IS bale at
the opening and finished with gainJ
of SO go to S405 a bale. At Chicago
wheat pushed up 23s to 31s bushel,
corn was ahead Is to IA and hogs
nominally steady.
Profit selling in the recently buoy
ant rails and continued softness
of Steels clouded the stock list. On
the other hand textile company is
sues were given boost as the Gov
eminent froZe all raw silk holdings
and barred further processing of
this staple as a defense measure.
1t was figured heavy demand fer
silk substitutes would result.
Close Is Irregular.
Dealings were sketchy from tho
start and the close was decidediv
irregular. The Associated Press ay-
erage of 60 stocks was off i of a
point but up L on the week. In
every session except today the rail
composite registered a new top since
last May and, while it backed away
2 in the final proceedings, it held
at net advance of Z of a point.
Volume was raised to 36387o
shares mainly through transfer of
large blocks of priced stocks.
Ten OF the fifteen most active is
sues sold under $40 a share. TIE
tWo-hour turnover compared with
362.360 week ago.
With the exception Of tax fears.
there still was plenty of business
optimism. Among restraints were
The desire to keep commitments light
over the week end recess: a little
nervousness over growing tension in
the Far East as a result of tho
presidential embargo on exports oe
petroleum products which would
principally hit Japan and wider
claims OF success by Germany in tie
battle of Russia.
Scrap Shortage Threat.
Steels had to contend with threat
to production because of scrap short
age Bethlehem weakened further
on the company's disappointing
earnings statements due to excep-
tionally heavy taxes. United States
Steel. Republic and YOUNGSTOWN
Sheet were lower.
In arrears also were ChrvsIer
United States Rubber. Montgomery
ward. Douglas Aircraft. Western
Union. Great Northern. Santa Fe
new York Central, United States
Rubber and Goodrich.
Ihe gasoline sales curfev order
supposed to go into effect tomorrow
IN Eastern seaboard States. de-
pressed Standard Oil of New Jersey
and Texas Corp.
On the upside were Industrial
rayon, celanese, rayonier. Paramount
Flctures, Twentieth Century-Fox.
Packard, Pepsi-Cola. Allied Chemi-
cal. Anaconda. Sears Roebuck and
United Aircraft.
In mixed curb losers included
american Cyanamid "B." E w
Bliss, and Sherwin Williams. Hold
ing plus signs were Beech Aircraft
humble Oil and Tubize Chatillon
ABOUT 10000 shares changed hands
mere against $1,000 last SATURDAY..
A better brand of war news gave
the big board its only upturn of the
week on Monday. Volume was lust
under a million shares and was
equally active Tuesday although the
TACT prices, on average. had reached
tne best mark since last January in
splred enough cashing in to halt thu
SWING. The list dipped slightl,.
wednesday and was unchanoeI
Thursday and Friday.