The Wilmington morning star., 1947-05-11
WEEKS MARKET
NARROW, SLOW
Speculative And Invest
ment Caution Predicated
Party On Skepticism

NEW 1O1th, way w. "a
stock market today finished a gen.
erally losing week with mild If
regularity prevailing in one OF the
slowest and narrowest sessions Of
the past several years.
For the short proceedings, as
throughout the week. speculative
and inves' lent caution was pred
icated partly on skepticism re
sarding wage-price situations, tax
es, labor legislation, the business
outlook and foreign affairs. From
Monday on professionals contin-
ned at the market helm. Some ex
tended commitments selectively
due to the belief favorites may
have been oversold in the light OF
cheerful earnings and dividends.
Brokerage customers, on the
whole, still held aloof.
The ticker tape loitered from
the start of the final session. Plus
signs had a shade the majority at
the close. Transfers of 24O, 600
shares compared with 250, 900 last
Saturday and were a minimum
since July 20, 1914. The weeks
aggregate of 1902, I'll shares was
a low for a six-day stretch since
the period concluded April 7, 1945.
In the previous weeks volume was
1923, 800 shares.
The Associated Press so stock
composite was up i Of a point at
62.1 but on the week showed a
net loss of g Of point. Only 557
issues registered on the day. a
bottom since Sept. 4, 1943. OF
these, 1856 rose, 1877 fell and 1874
were unchanged.
On the day Lion oil was up 2
ga at 40 IA, a new 1947 high, in
further response to a splitup pro-
posal. Allied Chemical added l IA
at ITO 10 and Union Pacific l at
1928 -. Wilson & Co. tackled on
SO at IL SO in the wake Of a rails
ed quarterly.
Improved were General Motors,
despite widespread layoffs in this
industry due to material shortag-
es; Santa Fe, N. Y. Central, Great
Northern Railway, Standard Oil
CNJ, United Aircraft, Glenn Mar.
tin, Goodyear, American Tele-
phone, Western Union CA, Ken
necott, Anaconda and General
Electric.
American Sugar refining prefer
red dropped 8 points at 131 on a
single sale, first since May /. Cas-
ualties included Bethlehem, Re
public Steel, Chrysler, Goodrich,
International Harvester. Eastman
Kodak, Chesapeake Ohio, Inter-
national Nickel and Phelps Dodge.
Bonds we're mixed in the slow
est dealings since 1917. Cotton was
down IS cents to $1.15 a bale. At
Chicago wheat ended off ga 10 8
cents a pushea corn 2 to 8 IL
and oats l IL to l So.
In day'scurb advances were re-
tanned by Puget Sound power, Ac-
me Aluminium and Lane : Wells.
Stumblers we're American Gas,
Cities Service, National Transit
and Text1on. Turnover here was
TO, 900 shares, the same as a week
ago.
The big board was up a trifle
On balance Monday although de-
clines outnumbered advances on a
' total of TAO, 900 shares. Chrysler
was a feature in further reflection
OF the splitup plan and doubled
dividend. The list suffered its
sharpest average retreat of the
week on Tuesday with activity
equalling the previous session.
Profit cashing on five successive
upturns received the principal
blame. A number of lows for the
year were in evidence.
The decline was resumed
Wednesday on 800, 900 shares,
smallest for a full session since
April %. Steels and motors soft
ened in the final hour. More sell
ing appeared Thursday although
dealings amounted to only $40, 900
shares; Oils showed Independent
strength, buoyed by dividends and
the profits outlook. Standard NJ)
touched a top for the year. The
Friday session involving 72O, OC0
shares left the overall average IN
changed although losers predom-
mated. Lows for the year again
were plentiful. Motors stiffened in
the face of Chrysler's Detroit as
sembly suspensions caused by
steel shortages.