Show r WY Y YORK OR K MARKETS MAR 1 SECURITY PRICES IN NE NEW I STOCKS RALLY HALLY IN LAST HOUR Market Recovers Much of Early Slump but Turns He He Hc Heat v at Close By y Associated Press V E W YORK Jan 29 The 29 Thc 2 The stock market endeavored to ai rally in i the last hour Friday and recovered much of ofa an a early carly slump but the list turned heavy again agahi in the final few minutes and there were numerous net losses of 1 to lo 2 points point at the finish although copp s were higher Sales approximated mated shares I Buying Bug of coppers steels steel and aircraft air cr craft f issues in the last hour was at In brokerage quarters IC to basis oi of 01 ofa r speculative activity o 0 a possible demand for war supplies In the far east cast although conservative banking quarters were inclined to expect ex cx the situation to be kept in hand Many prominent Industrials reduced their earlier earler losses loses of 1 to 3 to minor fractions but rails mIs failed fied to come back backas as strongly as further delays delss were encountered in in the wage tons Issues cosh 1 to 2 lower included Southern Souther Pacific New York Central Santa Fe Chesapeake Ohio North cm er Pacific St Standard Gas Public Service Ser vice vIe of New Jersey and others others REGAIN LOSSES U. U S. S Steel and ad Bethlehem regained losses of more than a point point and Amerlean AmerIcan Amer Amer- lean Ican Telephone recovered about half hal of a 3 point 3 drop American Can and arid General Motors were steady at the finish United Aircraft American Smelting Howe Sound and Cerro de Pasco were up a point or more and Anaconda was up frac frac- Brokerage opinion on the market was rather confused and Inclined to tobe tobe tobe be a bit gloomy gloom What the market needed it ft i was generally agreed was wasa a good piece of bullish news but traders trod trad ers scarcely knew where to expect it i. i The weekly federal reserve occasioned s some me showing show show- ing frig a slight contraction in and only a 3 of in circulation Th inauguration inauguration of reconstruction corporation corpora I tion ton is being awaited hopefully and some brokers expect General motors dividend action next week to be en en- The Te regular quarterly payment payment pay pay- ment of 75 cents cent is rather widely expected ex cx- but the next payment it Is felt felt will wi depend on business gains gains NEWS The Te copper news was none too encouraging encouraging en en- although those shares held up well wel Domestic copper prices recently recently re re- re centy quoted at 7 71 4 4 1 1 to 7 8 73 73 8 3 cents cent sagged to 7 cents cent The du Pont annual annual an an- nual report showing the dividend more than tha earned eared was a bright spot in the corporate news The IC weekly mercantile reviews reported reported re reo re- re ported little change In trade tade condi condit tons pointed out that warm weather was wa still sti an adverse ifs ih- fluence in the movement of certain certin lines of merchandise It I added that some merchants through adjusting themselves es to conditions were managing managing manag manag- ing to give somewhat larger orders to wholesalers wholesalers The money market was about sta stationary although some call cal money was offered outside at a 3 concession of oC M 4 1 of 1 per cent from the official rate ate rat of 2 21 1 Federal funds showed a little week end firmness |