Evening star., 1947-10-26
Selected Stocks Gain,
Selling Eases at End
OF Losing Week
By Victor Eubonk
Associated Press Finaneiol Writer

NEW YORK, Oct. 25.-Ine StoCk
market today finished its first los
ing week since mid-September with
liquidation drying up and assorted
favorites edging timidly toward
recovery.
Throughout the week dealings
were among the iiveliest of the year
with Fridays volume crossing the
million mark for the tenth successive
session. Earnings, dividends and
business optimism still provided
bolstering arguments but offerings
became more insistent after Mon
days limit.
Professionals cashed profits and
there were reports of institutional
selling based on the idea the list
had approached the highs of last
July and failed to follow through.
Bearish contingentS saw their
opinions confirmed Friday when the
market suffered its sharpest drop
since early August in the wake of
the call for special session of Con-
gress for the oStenSible purpose Of
putting brakes on imitation and Civ
ing quick dollar relief to Europe.
Commodities slumped with grain
futures tumbling the permissible
days advance.
Short Covering Helps.
In the final brief session some
short covering and cautious bidding
was based on the idea the list may
have been oversold. Numerous
brokerage clients, however, held
aloof to await congressional response
to the Presidents address to the
Nation on stemming living costs
and aiding foreign governments.
Bonds continued to ease. Commod-
tiles resumed the slide.
composite was up i of a point at
66.3 but showed a net loss OF 7
on the week, first since the period
concluded September IL. OF 729
issues registering in the two hours.
267 rose and 224 fell. The Saturday
aggregate of 100000 shares COM
pared with 100000 a week ago. For
the six days the total was 7,677 $50
shares, a top since the period Of
February which, in turn, was ths
largest since the stretch of Decem-
Der a. Dealings last week amount-
ed to 6,883 1868 shares.
Low-quoted motors again were
the fastest movers in the last ses-
sion but only Continental Motors
managed to gain a small fraction.
Improved were Bethlehem. Chrys-
ler, Montgomery Ward. Sears Roe
buck, Western Union, North Ameri-
can. Anaconda, Phelps Dodge. du
Pont. National Supply, Bendix
Home Appliances. Standard Oil OF
New Jersey, New York Central,
Southern Pacific, Great Northern
Railway and Baltimore & Ohio.
Earnings Disappointing.
Disappointing earnings figures
depressed Crucible Steel, Allied
Stores and Eversharp. Slipping on
the day were General Motors, Re-
public Steel, Goodrich, Sperry,
Kennecott, Texas Co., Westinghouse.
Johns Manville and Chesapeake e
Ohio.
Better curb performers were
Barium Steel, Crystal Oil. Derby
Oil. Salt Dome Oil and Root Pc
troleum. Kaiser-Frazer was off a
trifle. along with Niagara Hudson
Power and Benrus Watch. Turn
over here was 100000 versus 10000
last Saturday.
The Big Board pushed upward
on 1,770,o00 shares. its
eighth straight session without a
loss. Climbing steel production and
the French elections were props.
Prices softened Tuesday on l 100000
shares. The retreat was resumed
Wednesday with 100000 shares
changing hands. Many special is
sues. though, touched new peaks.
Steels led a late Thursday come
back with the overall index un-
changed and volume at 100000
shares. Accounts were dumped in
virtually all departments Friday
with activity picking up to 1885,
900 shares. Speculative forces, on
the other hand. played the motors
selling under $40 share and these
issues ended on the upside with
accounting for 10S,-
300 shares.