Show SOME RECOVERY MADE MAE IN I STOCKS STOCK Short Shor Coverings Shown Show in inOs Oils Os Shipping andI and I F Steels Stel V New Now York Tori Feb Fob 1 14 Further Further proS proS' res ress toward recovery from the low of oC recent sessions Wa was wa mado made b by the thc stock market today tho the movement rent In many instances reducing tho tile weeks i ossen to nominal proportions i p As In tho tine previous day oils ois shipping ship ship- pings ping and steels were the io chief element ele- ele ment of or strength th and figured I most conspicuously In the extensive short hort hortI I covering Motors also alRo threw off of much of their theft depression with various thel wih alous spa spa- I notably leathers textiles andI and coppers while rails rais advanced easily on I moderate moderato accumulation I Tho further advance was attended by another sharp shar rally raly In foreign ex exchange ox- ox change especially tho the London rate rae but much of or tho the Improvement In that quarter qua qua- quater ter was cancelled canceled after oCter the markets market's close I Sales amounted to shares Further contraction of or local loans was waa shown n by y tho 1 cloning clearing clearinghouse so state state- LU i ot UL a L more than making a n total tota o of almost al almost al- al most meat since the tho first week of ot tho tile new year Reserves of ot members in tho the federal reserve c bank were reduced by about or more moro than twice tho the amount o of tine the weeks week's gain and ant excess reserves fell fel to slightly over 01 0 on a moderate decrease of or cash holdings Liberty Issues IssueR were the tine only irregular lar features on OIl the bond market whore enlarged dealings in rails rais and indus Indus- trials were attended b by greater firmness firm firm- ness Total sales Hales bonds par value aggregated gated aed Old United t States tes bonds wore un unaltered unal unal- l- l on call cal during the week |