Evening star., 1950-04-23

Week S Stock Volume
Highest in 10 Years
As Public Gets In
BY the A,sesieted Prs,,

NEW YORK, April 22.-The
stock market this week did the
biggest business in 10 years.
More than Is million shares Of
stock changed hands in the ex-
change. total not matched since
May. 1910.
Trading activity centered on
radio-televiSion issues and a group
Of low-priced and speculative
shares. Blue-chip stocks were
not ignored but only q few at
tracted a large following.
The most active stocks during
the week advanced. some sharply.
The main body Of stocks stirred
UP q good deal Of trading dust but
failed to get very far one way or
the other.
Speculation Evident.
Possibly the outstanding fea-
lures OF the market were the very
evident increases in speculation
activity and trading by the gen.
eral public. This made for con-
siderable nervousness and fire.
quently erratlc price movements.
Special situations, too. fiared up
from time 10 time. Western Union
and Armour. for instance. kicked
up their heels on mixture OF
fact and fancy.
Brokers liked the amount Of
business they were doing, which
was roughly double a year ago.
but they were inclined TO be
Jittery over the possibility OF
moderate TO severe reaction In
the near future.
In the BACKGROUND, however.
business news made good reading.
Government officials predicted q
high rate Of industrial and COM
mercial activity for months ahead.
Corporation executives were in
clined to be optimistic.
Steel Situation Good.
The situation in steel alone was
enough to carry a heavy load OF
optimism. Steel output this week
was scheduled at 100 per cent of
theoretical capacity. record high
In terms OF tonnage.
One Of the most significant re-
ports issued during the week came
from the National Machine Toor
Builders Association. New orders
Tor machine tools in March were
the largest since June l946.
OF the 20 most active stocks
during the week, only one ended
with loss. And seven of the first
eight were radio-television issues
About half of the most active On
were prices below SIS a share.
Electric d Musical Industries
was the most active stock, closing
20 higher at 3. Radio Corn in
second place. gained "a at 21Ia
and International Telephone, run.
ming third, added u at 1914.
Early Gains Reduced
In Saturdays two-hour session
the market made a brief try for
hlgher prices and then thought
oetter or 1t. In the last few min
utes OF trading the TV group GOT
caught in a selling gust and lost
IractlonS to nearly a point
changes elsewhere were limited
mainly to fractions with gains
showing a comfortable edge over
losses. O
The Associated Press average Of
oo stocks remained at 1872, or lust
i OF one point higher than A
week earlier. During the week ths
market climbed to the highest
level since mid-August ls4s.
reaching 1877 on the 6o-stock
scale.
Today's volume reached 1880.
600 shares but at that failed Ia
match last Saturdays 1880 900
shares.
Armour & Co. was the most
active stock for the two hours
moving up IA to l0ss. The COM
pany reported sharp increase In
production Of Acth. one of the
newest Of the miracle drugs
lhere were rumors that the meat
packing concern might decide TO
pay OF the accruals on its pre-
ferred stock.
Atlantic Refining was another
hlgh-stepper. rising 2h to 46h.