Evening star., 1942-11-08
.Stock1ist Continues
To Lean Forward
After Week Rise
Profit Coshing Curbs
Further Advance in
Some Sections
By BERNARD S. O'HARA,

Associated Press Financial Writer.
NEW YORK, Nov. THE stock
market today ended generally
bullish week on rising note despite
the handicap of sizable profit CASH
ing.
AS in yesterdays upswing, buying
of so-called peace stocks in the in
dustrial section as result OF the
apparent Axis debacle in Africa
propped prices generally at the start
and numerous favorites touched
high marks for a year or longer.
Initial advances of fractions to
point or so were reduced or cancelled
in many cases at the close. The
market was the broadest and most
active for any two-hour proceedings
since last December.
Steels lost their climbing vigor
and rails still were backward.
Average Again Rises.
The Associated Press average of
60 stocks was up 2 of a point at
408 in the face of decline of / in
the carrier composite. 1t was new
top since November S, 1941, and
net gain for the week of g. OF 746
individual issues traded, 377 ad-
vanced, Isl were down and 218 un-
changed. Transfers of $50, ,280 shares
compared with 350,210 week ago
and were the largest for any Satur-
day since December q.
While the election returns were
all on the side of Wall Street, the
market failed to make any real
response to this factor on either
Wednesday or Thursday. The
optimistic war and political news was
offset to some extent by talk of the
Treasury demanding new and
heavier tax bill. On Friday belated
attention was given the big victory
in Egypt and selected shares made
the best showing of the week.
Stocks in the new high division
today included General Motors,
Chrysler, International Telephone,
Union Carbide, Montgomery Ward,
Sears Roebuck, Woolworth, j. I.
Case, Standard Oil On. j. and Radio
Corp.
Du Pont Advances.
Du Pont got up 21a and lesser i'm
provement was shown by Westing-
house, American Can, Consolidated
Edison, North American, Armour,
Wilson & Co., General Electric,
Dome Mines, American Smelling, U.
S. Gypsum and Omnibus Corp. U.
S. Steel was up 1s and Bethlehem
unchanged.
Frightening the picture was the
sale OF two stock exchange seats
for 100000 each, up $4,000 to the
best price for the year.
Among posers were Santa Fe, New
York Central, Southern Pacific,
Youngstown Sheet, Boeing, Glenn
Martin, Philip Morris and Good
year.
Lagging tendencies exhibited by
the rails in the latter part of the
week were blamed partly on
thoughts of postwar difficulties
which the transportation systems
might encounter. Speculative car
rier bonds gave ground with the
stocks.
AS the carriers reacted there we're
indications of some switching of in
terest to various utility and in
dustrial bonds.
Trading in United States Govern
ments was in small volume in the
over the counter market with prices
about even with the previous finals.
No transactions were recorded in
the stock exchange market.
Total bond transfers were S4,228.-
600 face value, against $6,551 300 the
previous Saturday.
Forward leaners in the curb were
Sherwin Williams, Lake Shore
Pittsburgh Plate Glass, American
Gas, Gulf Oil and Electric Bond e.
Share. American Cyanamid b"
and E. w. Bliss slipped. Turnover
here was 88,430 shares, versus So, 800
last Saturday.