Show P PART ART OF STOCK GAINS CAINS ARE LOST Taking Profit-Taking and Hangover Selling Turn Share Market Heavy NEW YORK June G 6 fit W Securities markets market gave up part of at their recovery ery cry of late last week Monday as profit taking and hangover selling found foud buying power exhausted for the moment mo mo- ment meat at least least Stocks rallied for a atme time in i the last hour but sagged again aCIn in the final few minutes and closed heavily with numerous net losses of 1 to 3 points The turnover approximated approximated mated shares The temporary upturn in the last las hour cancelled canceled about bout half hal of an a earlier earler decline of oC 1 to 4 points in i shares The failure of a group in the senate to hold up the tax bill bi as re result re- re re resul suit sult sul of oC the con conferees changes in the electric power levy was regarded in some quarters as a factor in the late upturn Final prices were iere generally some some hat hat above the lowest A Anum number number num num- ber of preferred stocks and bonds continued to rise ric although the movement move move- ment meat was irregular The dollar dolar was stronger in the foreign exchange mar mar- ket ket American Telephone dropped 3 points recovered 1 12 2 then closed cosed with a net loss of at 2 1 14 11 U. U S. S Steel closed 1 12 2 lower after an extreme loss cosed los of 2 2 Santa anta Fe and Union Pacific regained about half of losses loses of 2 to 3 points point Miscellaneous issues closing cosIng 1 to 1 2 11 2 1 points lower included American Amen Ameri can cart Can American Tobacco B B. B Allied Chemical Drug Woolworth Eastman Eastman East man Case National Biscuit Borden Corn Cor Products Product and Coca Oils Ois held up fairly well wel B T common dropped 6 4 3 3 then closed off oU 5 net net The preferred also was under pres pres- sure Continental Oil Oi preferred shot up 10 points point and Peoples People's Gas GS made madea a gain cain of ot 6 |