The Wilmington morning star., 1947-03-30
DOWNWARD TREND.
noted ON MARKET.
nsaIings Slow; Wall Street
Averages Hold Modest
Net Advance
nv VICTOR EUBANK

BY VICTOR EUBANK
NEW YORK, March, 90 Up,
..ots generally edged downward
'i,v but dealings were the slow
If the past six months, for the
f. .nd straight week, the market
Srooes held a modest net ad-
'S nShiIe the list was on the of
'. in four sessions out of six.
81" wednesday Thursday bulge
w the balance on the side of re-
Pw u,,o~v. The mid-week runup was
eYy.5ited partly to strong publish
e,rices put out by a leading COM
s':.sion house and belief of some
m"+ the market was il technical
l ..re for a resumption of the
s 1;rb. On the other hand, skeptics
cI1.r6ing labor wildly fluc-
. .SS commodities. business,
..res and foreign affairs continued
J.. .sH lighten accounts.
ror the day declines were most
T., fractional although U. S. gyp-
,ro Welded l IA at 102 and East
gun kodak ! at 240. R%ecessions
l nar shown for Bethlehem, Re-
s,,b1ic Steel, General Motors,
c~ondyear, Montgomery Ward,
ca.rs Roebuck, International Har-
'ss+er. American Telephone, Ken
sscott. Westinghouse. Santa Fe,
n Y. Central and Southern Paci-
~ '1oy Mfg. came to life in the last
,.f hour and ended up 2 1-8 at
" a new 1947 high. Improved
. .rero Johas-Manville, U. S. Rub
tsr United Air Lines Cat a new.
ysar's top, American Airlines,
,nsconda. National Distillers,
Norfolk & Western and Interna-
aonal Nickel.
The Associated Press 60 : stock
,dhposite was off L of a point at
|s57 but on the week retained a
rst cain Of 5. of 684 issues regis
,sring. narrowest since March l.,
|N0 fell and 1874 rose. Transfers Of
$4,000 shares equalled the low of
|I.s+ Oct. 26 which was a bottom
'ince Sept. Is, 1874. The weeks
,~ogregate of 4,447, 500 shares COM
ssred with 3,738, $50 the week be.
rre which were a minimum since
|lpril, 1915,
The days bonds were narrow.
Grains at. Chicago ran up and
down with wheat ending up l ga to
u cents a bushel, corn "a to
70 and oats SO to 2. Cotton
yas ahead 5 to IS cents a bale.
!, the curb during the brief pro-
headings Eureka pipe line was up
better than a point following a
raised quarterly payment. Losers
we're United Light. Technicolor,
Ieannette Glass, Creole Petroleum
Ind Cities Service. Turnover here
vas 50, 900 shares which equalled
he low OF last Nov. 16. It COM
Dared with 80, 900 last Saturday.
The big board skidded Monday
III the smallest full days total Of
BO. 900 shares since July 5slast.
Little enthusiasm was exhibited
wer the rubber industry's wage
lreement. Professionals still &C
nunted for what few transactions
gentuated. There was an average
dp Of half a point Tuesday, largest
i the week, but only $780,
no shares we're recorded. blue
hips" were down l to 3 points.
american telephone was off a
rifle as the company's $500, O0o,-
NO Of new debentures came on
be market.
Satisfaction over absorption Of
he telephone securities in addi-
ion to optimism regarding drying
p Of liquidation and "buy now
ivice of a big brokerage firm,
purred a briyK revival Wednes-
lay. President Humans plea for
1ger goods prices was helpful.
advances ranged from ] to
! points generally on $40, 900
mares, best since March II. The
pswing was extended Thursday
rs the house voted for a cut in
axes and buyers stepped in on
he belief many pivotals were un-
tT.valued. H. L. Green common
Jumped 4 points on a proposed 100
per cent stock dividend. Transac-
ions app roximated LAO, 900
mares, a peak since March IL.
Bidders faltered Friday and the
Nerages ended down one-tenth OF
point. Dealings tapered to $780,
W shares. While many leaders
Eere soft, new 1947 highs were
2sached by Houston Oil, National
1sdllers and International Har-
fester.