Evening star., 1942-12-20
BY BERNARD S. O'HARA.
Associated Press Financial Writer.

NEW YORK, Dec. 19.-The stock
market took rest today after one
of it's best and liveliest weeks of the
past year in which leaders, on
balance, hit their highest levels in
more than IL months.
Profit cashing on the recent rally
result in mild irregularity through
out the brief session and the As
sociated Press average of so stocks.
for the second day in row. ended
unchanged at Alb, but showed net
advance of 1.3 points on the week.
a top for any similar period since
July II. The composite held at the
peak mark since October 4. 1941.
While activity in low-priced stocks
dwindled appreciably, dealings else
where picked up moderately and
transfers for the short stretch
totaled 373,060 shares compared
with $40, ,730 last Saturday and were
the largest for a like period since
November 7. The weeks turnover
of 5,055 049 shares was the heaviest
of the year to date.
Started on Tuesday.
The market failed to get any
where in particular Monday, but
lightness of tax offerings. coupled
with good war news, inspired REIN
vestment purchasing Tuesday suffi-
cient to give the averages a fair
lift. Demand broadened Wednes-
| day, with chemicals, rubbers and
specialties contributing advances Of
point of more.
Thursday proved the boom day Of
the week when trading aggregated
l.3o7730 shares, biggest since last
December 81. The 6O-stock index
mounted 8 of a point, widest upturn
since July 8. Sizable blocks of low
| priced issues. most of which we're
narrow. accounted for an important
portion of the volume. There was
another million-share day Friday.
but the rise stalled on profit selling
The weeks bulge, especially that
OF thursday, was attributed partly
TO revival of imitation thinking due
TO the OPA shake-up and a move on
the part of individual and insti-
tutlonal investors to put idle funds
| to work
Modest gamers today included
Standard Oil IN. j.. Southern Pa
clflc, Goodrich, Warner Bros, Gen
eral Electric. United Gas Improve
ment, international Nickel, North
American and Western Union. On
the losing end were U. S. Steel,
Bethlehem, American Telephone, N.
Y. Central, Anaconda, MONTGOMERY
Ward, American Can, Douglas Air
craft and Allied Chemical.
Slightly higher in mixed curb
were Brazilian Traction. Gulf Oil,
Copper Bessemer and International
Petroleum. In arrears were Glen
Alden Coal, American Cynamid "R."
Humble Oil and Pantepec. Sales
here amounted to 1875 shares ver-
ses II ,935 a week ago.
Industrial Bonds Up.
! Industrial loans competed actively
with the long-favored rails as bond
market leaders today and some Of
the former rolled up large volumes
on rising trend
| General Steel castings TOOK turn
over honors on the transfer of s162,-
600 face value, closing at par, up IL
points. Bethlehem Steel 3l2s rose
Is to 104%s. and Allis Chalmers con-
vertible 4s rose as to l07.
Strong spots in the rail depart
mont were offset by some fairly
sharp slides. Carriers up fractions
to around a point included Balti-
more & Ohio "A" '95 at 3112, Della
ware & Hudson refunding 4s at 47la
and Seaboard Air Line As at 26l,
Losing rails included Atlantic Coast
Line 4 IS at 81. Great Northern H"
As at 98ai and New York Central
refunding SIS at Sis.
Government issues were steady,
transactions totaled S3,747,10O face
value, against s4,456 500 the previous
SATURDAY.