Show f f. f 1 L fi d i I I SECURITY PRICES IN NEW YORK MARKETS I J BIO BIG B BOARD AR GIVEN CIVEN v ti SLIGHT SETBACK Losses of One to Three I Points Numerous on Prof Profit Profit- Taking Profit it Taking By CLAUDE A. A 4 JAGGER JAGGER Associated Press Financial Editor Edior NEW YORK Jan Ja 16 Week Weekend the stock market marketa taking profit gave a moderate setback in a quiet trading trad trade ing Saturday i- i ling iNet Net losses loses of 1 to 3 points point were nu ni nu- nu The turnover for the two two- hour session was about shares i News of the passage of the reconstruction recon recon- finance te measure b by the house leaving leving fiance only settlement o ot of dl between the house and ad senate senate sen sen- ate bills before the measure is ready for the bis presidents president's signature prompt prompt- fed ed considerable taking profit on the theory that the good news was out out Some professionals put out new short lines In the belief belie bele that a setback setback set set- back was due but there was enough covering in the final dealings to lift Ht several of the te more active issues fractionally frac frac- above the days day's lowest lowest The closing cosing tone however was heavy STEEL LOSES POINT United States Steel Stel lost a point and General Genera Motors General Electric American Amerian Can New York Central and Allied Aled Chemical about as much Shares Shae off about 1 to 2 included Woolworth Westinghouse Southern Souther Pacific Santa Fe Union Pacific American Telephone Louisville Nashville Bet Bethlehem American Tobacco Tobacco To To- bacco B B. B and Eastman American Amerian Sugar dropped 3 to a new low The market received little in the way of fresh news at the end of the week to provide impetus to the recent advance An estimate of steel mill mi operations for next week in the Youngstown area indicated a rate of 34 per cent of operations against 31 per pel cent this thi week which was wa encouraging encouraging en en- in view of at the restricted seasonal seaonal upturn in this industry since the tu turn of the year NEEDS lEEDS GOOD NEWS Nevertheless the market clearly cearly needed something new and surprising surprise ing in the way of good goo news Such developments as approval of the reconstruction reconstruction re re- re construction measure expectations of an early agreement on railroad wages I and ad on extension of the German Gera private vate vat credits credit appear to have been well weIl discounted by the market over the past several days Foreign exchanges continued to strengthen as a against the dollar dolar notably the French franc despite withdrawal of another in ingold ingold ingold gold for Paris account account It I is rumored in foreign exchange circles that France is js considering gradual withdrawal withdrawal with with- of her large balances here but will wi endeavor to t do it j without monetary disturbance Sterling again firmed fred cables ruling at at 4 1 1 up 4 3 3 4 of ofa a cent cent |