The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1946-02-03
CONCLUDES RISING WEEK

NEW YORK, Feb. 2.-RtThe
stock market today concluded q
generally rising week at the high
est level in IS years With steels and
specialities leading a fast short
session with gains OF fractions to
better than 4 points.
Expectations that the White
House would announce steel price
boost soon continued to keep the
markets imitation pot boiling, good
dividends and earnings were help
full as was further "split-up" talk
for several "blue chips" Skep-
tics still held aloof, however. to
await strike developments.
Although many pivotals faltered,
closing figures for favorites were
at or near the best of the brief
proceedings. Dealings quickened
at intervals and transfers totalled
1000, 900 shares against 900, 1000 last
Saturday.
PRESS AVERAGE UP
The Associated Press 60-stock
composite was up Il Of a point at
80.4, a peak since March 81, 1881,
and on the week showed net ad-
vance Of 2 full points. OF 876
issues registering, 498 rose. 1876
fell and 1913 were unchanged.
On the day Du Pont was up 8
3-4 at 2O3 "a, high since 1929.
Bethlehem added 2 "a at 112 IL,
Norfolk and Western 4 IL at 274
~ and Eastman Kodak 2 IL at
254. Lesser gamers included U. S.
Steel, Chrys1er, General Motors,
Homestake, Dome Mines, Alaska
Juneau, Paramount, Twentieth
Century-Fox, Union Pacific, Gin1-
bel, Warner Bros, American Tele-
phone, General Electric, Texas
Co., and Loew's.
On the offside were Electric
Power and Light, WOODWORK, San
ia Fe, Boeing, Radio Corp, Inter-
natona Paper, International Tele-
phone, Aviation Corp, Northern
Pacific and International Harvest
er.
Bonds were selectively advan-
ced. At Chicago the May rye
futures contract scared the limit
Of 5 cents bushel. Oats were I'M
changed to up So. Cotton was up
30 to 40 cents bale.
In the curb Pittsburgh Metal
lurgical moved up IA points on
a proposal, to split the stock.
Schultz preferred jumped 5. For
ward learners were Cities Service,
Electric Bond and Share, Humble
Oil and Colonial Airlines. Turn
over here was 100000 shares YER
sus 500, 1000 in the previous abbre-
Waited sess on.
The big board lit It's fastest
stride and widest upswing in near
1y six years on Monday following
the Ford-Chrysler union agree
ments which were viewed as con-
firning the inflationary trend. De-
spite the beginning Of the second
week of non-margin, all-cash trans
actions, volume expanded to g.
480, shares, largest since May
81, 1910. The so stocks touched a
new high with an upsurge OF 1.8
points, best gain since Nov. z. 1910.
Steels placed a further advance
Tuesday on an aggregate OF q
10000 shares although profit cash
ing on the bulge put numerous is
sues in the losing ranks. This was
the second broadest market on rec
ord, 1.049 issues appearing. Ac-
counts were trimmed Wednesday
on the fear that the projected In
crease in steel prices might not
cover costs and would restrict
earnings. The averages suffered
their first dip since Jan. Is.
Activity slackened Thursday to
the lowest since Jan. % as trends
again wavered. The months aver.
age upturn, however, of 4.6 points
was the most pronounced since last
April while the January volume Of