Evening star., 1949-08-14
pens with easy money, accelerated

pens with easy money, accelerated
business and rising prices.
On what Wall street considered
the dark side of the picture was
the uncertainty over the outcome
of negotiations between labor and
management in steel, coal and
automobiles. Although leaders Of
the big national unions are not so
quick to call strikes as they were a
few years ago. Wall Street would
deem it a set back for business If
new spiral of wage increases was
touched off in the basic industries
and spread to other business. La
Dor leaders, however. felt workers
needed more money to sustain the
peoples buying power
All this was viewed from the
present peak of the stock market
which in one bound on Monday
added to its heavy gain Friday
and placed itself we'll above all
intervening high points back as far
as February
Profit taking Expected.
Some selling of stocks to gar
ner profits made in the two pre-
vious days was natural on Tues
day. The average price fell back
little, but there was no selling
pressure evident.
BY Wednesday the advance was
resumed and wiped out all OF
the Tuesday loss, but Thursday
and Friday there were enough
adverse corporate developments TO
press prices consistently lower.
Dividend reductions, lower earn
ings and management changes in
some of the market leaders during
the last two trading days un-
settled the list enough to bring an
average fall.
During the week the Associated
Press average of so stocks rose to
S64.60 from $64.20 the week be-
fore.
Those who are confident the
summer rally will continue, point
ed out that trading expanded
markedly while prices were rising
and contracted on the downside-l
a good sign to them.
C. g. S. Active.
Commonwealth g. Southern
again was the most heavily traded
stock of the week closing un-
changed at S., the highest price
of the year. United Corp. was
second on the list, closing of II
cents at $3.87.
Other changes from week ago
and closing prices for some lead
ing stocks follow: e.
U. S. Steel off IL cents at $22.87
Du Pont up 81 at 5000; Alle-
ghany Corp. up so cents at 1912;
Radio Corp. up 81 cents at $ll.12;
Studebaker off 81 cents at $23.12;
Chrysler up 81 cents at $5l:
American Air Lines off rs cents
at $40; Admiral Corp. up 81 at
1882; American Can up $3.50 at
s93.25; American Telephone 81
Telegraph up $1.37 at $144.87:
American Woolen of. $1.S7 at
$24.50; Santa Fe up $3.50 at
$87.75; Barnsdall Oil up 1925 at
$49.5O: Bethlehem Steel of so
cents at $27.37: Celanese OF Slip
at $26.12; Cerro de Pasco up 81
at $19; Dresser Industries up $1.37
at S19.12; Goodrich off $2.62 at
s59.S7; Ingersoll Rand up $3.50 at
$3.50; international Paper up
$3.50 to $5337; Loew's of $1.25 at
$17.50; Philco up $1.37 at $27.75;
Superior Oil of California up $40
at $155; Standard Oil IN. j. off so
cents at $67.5O; Twentieth Gen.
tury-Fox off 81 at $21.50; u. S.
Gypsum off 81 at $97; u. S. Rub
ber off $3.50 at $31.75; Zenith
Radio up $2.37 at $25.37. and
Montgomery Ward off so cents at
$50.
Curb Market Prices.
Some outstanding stocks in the
Curb market with their net change
for the week and closing prices
follow:
American Maricaibo up Is cents
at 81: American Natural Gas up
~ cents at $26; Arkansas Natural
Gas "a" up Is cents at $40:
Brown Forman Distillers up s1.87
at $12.62; Brown Rubber up SLIP
at $11.62; Cities Service up $1.50
at $50.25; Electric Bond g. Share
up Is cents at $1525; Louisiana
Land & Exploration off IS cents
at $23; South Penn Oil up 81 at
$27.75; and United Light g. Rail-
ways off Is cents at $29.50.