Evening star., 1947-01-26
Stock Market Uneven
After Second S|owest
Week in Two Years
By Victor Eubonk


NEW YORK, Jan. 25.-The Stocl
Market today concluded its seconc
slowest six-session week in nearly
two years with apathy and milo
trregularity persisting.
The list made scant response tt
the overnight news of the steel wage
truce. While the financial sector
was cheered by the three months
extension Of the union contract with
United States Steel, it was realized
that this problem, as well as the
portal pay dispute, had yet to be
definitely settled. Skeptics regarding
labor, taxes and business prospects
consequently, either bought SPAR
ingly or trimmed commitments and
stood aside.
The ticker tape loafed from the
start and fractional unevenness pre-
vailed at the close. Transfers of
10000 shares were the smallest
since January 4 and compared with
10000 last Saturday. The week S
aggregate of 4,425, $50 shares was a
low for six days since the period
ended November 30. Last week the
volume was $780, ,120.
The Associated press 60-stock
composite was of L of a point at
65.2 and on the week showed a net
loss Of two-tenths. OF 749 issues
registering on the day, 27S rose and
246 fell.
In the short session du Pont added
~ at 185 on meager sales, United
States Steel u at 1928, Youngstown
Sheet u at 65& Douglas Aircraft 5s at
,707s, Johns-Manville y at 131, Gen.
eral Motors "a at 56ss and United
States Rubber 4 at 53st. A shade
ahead were American Telephone,
Sears Roebuck, North American,
j. C. Penney, Kennecott and Ameri-
can Smelling.
Santa Fe conceded IL at 90s4.
Lesser declines were suffered by
Bethlehem, Goodyear, Pennsylvania
Railroad, Southern Pacific, Southern
Railway, Great Northern, Baltimore
IL Ohio, Pennsylvania Power &
Light, Electric Power & Light, Ana
conda, Standard Oil of New Jersey,
General Electric, Westinghouse and
Philip Morris.
In the Curb lie Tourneau common
dropped 4 points at "a in the wake
of a deferred dividend. Plus signs
were retained by Callite Tungsten,
Salt Dome Oil, Coro Inc, and
Middle West Corp. Turnover here
amounted to 10000 shares, eclipsing
that of the Stock Exchange because
of large-scale trading in Electric
Bond 81 Share rights"
The big board recorded its widest
dip of the week Monday as profit
cashing followed the runup on the
restoration of margin transactions.
Volume was 100000 shares. A drop
in the exchanges short" interest
and falling silver prices inspired
some pessimism. The direction was
a trifie lower Tuesday and a bit
higher Wednesday with totals of
600, 1000 and $4,000 shares, respec-
lively, minimums for a full stretch
since last August. Beverage stocks
rallied wednesday on court de-
cree favoring industrial sugar allot-
ments.
There was q revival Thursday,
with 100000 shares changing hands.
Buying was attributed partly to be-
lief the list was oversold. A Treas
ury ruling on portal pay taxes was
helpful. Steels, liquors, rails and
motors pushed forward. Govern
ment Intervention in the portal con-
troversy provided prop Friday with
95O,O00 shares, top for the week.
Special issues and assorted rails
were in front. Considerable selling
was in evidence, however, as atten-
ton was paid to climbing business
inventories and a further sharp de-
cline of money in circulation.