The Wilmington morning star., 1947-10-15

$500.
NEW YORK, Oct. IA -R)-
Bullish forces resumed control
of the stock market today and
leading issues were given one Of
their broadest, liveliest upswings
of the past year or so.
Buying demand piled up over
the Monday holiday and activity
in the forenoon amounting te
10000 shares was the best fol
this period since May 10. Steels
paced the initial rise, followed
by aircrafts, motors, oils, rails
and a wide assortment Of indus
trials. There were subsequent
slowdowns but the ticker tape
generally maintained a fast gait.
Advances of l to more than 8
points were widespread at the
close. The days aggregate of L.
&c., 900 shares compared with L.
100, 900 Friday and was a TOP
since May 10.
Brokers credited no single piece
of news for the bulge but most
said that recently diffident Gus
toners began to reinstate CONT
ments on the idea that the list
lad consolidated its position and
was in shape to achieve sub
stantial progress. Bidding by pro-
fessionals and others also was at
tributed to the belief that ap-
prehension over foreign affairs
was overdone and that specula-
tive elements had been neglect
ing stocks for some time in favor
of soaring commodities. The out
look for earnings and dividends
attention.
Motors Revive
Motors, hesitant at the start as
steel shortages stalled output in
this field, soon revived. Rails,
apathetic for an interval despite
the interim freight rate boost
which became effective yester-
day, eventually joined the pro-
cession. Growing customer de-
mand propped steels and oils
while aviations benefited from
expectations of expanding gov
eminent plane orders. Liquors
ignored the distilling recess OF
two months called to preserve
grains.
The Associated Press 60-Stock
Composite was up g Of a point at
66.5, a high since Aug. 5, and the
sharpest advance since July l.
Trading equalled the second
broadest market on, record OF
Sept. II a year ago. Of 1,096 is
sues registering, 757 rose and
only 1873 fell.
Touching peaks for 1947 were
Youngstown Sheet, up 2 So at 7s
rs; Lukens Steel 2 IA at 26 IA
Chrysler 2 IL at IS IA, Hudson
Motors l IL at 20 7-8, Mission
Corp. 2 IL at So, Warren Pc
troleum l IA at AZ 10, American
Smelling l Ia at Sc 3-8 and John
Deere l Ia at As IA.
Union Pacific climbed 5 1-8 al
145 1-8, Amerada Petroleum
ga at "a, Sicily Oil 2 50 at 81
"a and Phillips Petroleum 2 Ia
at 81 IL. Up l to 2 or so were
U. S. Steel at "A SO, Bethlehem
90, General Motors go IA, u. S
Rubber Al "a, Woolworth 48
International Harvester 80 7-8
Douglas Aircraft 81 IL, Glenn
Martin 10 1-8, Bendix "a ID, d.
Pont 1870, Schenley 80, Publickel
20 1-8, Corn Products 81 IA
American Wooden 48 3-8, Santa
Fe IS, Southern Pacific As Il
and Illinois Central %.
Standard Oil
Standard Oil (NJ) was up
3-8 at rs SO and, after the close
a secondary offering of 10000
shares of this issue was announc.
ed at the final quotation.
Secondary carrier bonds die
better but high grade loans con.
tinued to falter. At Chicago whea'
ended up 2 ga to s IA cents
bushel, corn l 3-4 to 8 and oat:
"a to 2. Cotton advanced 81 t.
1925 a bale.
In The Curb Chamberlin Co
strengthened in the wake of :
splitup proposal. In front were
Atlas Plywood, Aluminium o:
America, Cities Service, Con
tipop+o1 Foundry and LoqanSpOr'