Show STOCK MARKET PRICES UNEVEN B By ELMER O. O United Press Financial Editor NEW YORK June 12 UP UP- UP Price movements on the stock ex change were confused Wednesday by passage by the senate of the the Rayburn utility holding balding company bill and by a sharp drop In n grains led by wheat The market opened Irregularly lower with utilities off fractions to to-J 2 points Then soared and trading picked up Even the tha utility issues recovered smartly Later further selling came cama Into some preferred utilities and indus l trials and rails lost part of thc their gains a few making losses Trading increased on rallies and fell off on OR reactions giving the lm len the market was making a ai creditable showing A few traders looked for modification cation of the utility bill in the house but most expected a bill that would destroy the holding companies The belief was general that if the measure meas ure became law tho companies hn hit mediately would test its Columbia Gas preferred lost more than 5 points while 1 to more than 2 points were lost by preferred issues of Electric Power and Light and American Power and Light Consolidated Gas Public Service o ot New Jersey Pacific Gas Pacific Lighting National Power and Light and North American lost less Early in the day traders were confused They sold stocks whose companies were In no way affected by the law including American Telephone which touched In Ina a few minutes after the opening Telephone came back to 1303 a anew anew new high Toward the close it eased on profit taking Railroad stocks and bonds had a sharp spurt with Great Northern preferred leading in activity Yes it was the most active Issue on the board A long list of stocks made new tops for the year |