Show STOCKS STOCKS- WEAKEN AT MART CLOSE By ELMER C. C United Tress Press Financial Editor NEW YORK Jan Tan 18 Prices I sagged agge In all sections on th the stock exchange today while traders withdrew with with- drew rew to the tho sidelines awaiting the tho Monday londay supreme court decisions Most losses were fractional The exceptions Included Pierce Oil pre pre- referred re- re which was forced down more than 2 points Losses of a point were noted in lit Western Union Monsanto Chemical and Greyhound American Smelting down a point was depressed along with other sit sil vers U. U S. S Smelting touched its low ow for more than a year at 8 89 off points Steels oils rails and special is sues dipped Atchison was down nearly 2 points but other other- rails re corded only fractional losses UtIl resisted selling and turned dull except Commonwealth and Southern South South- em ern which was the most active is Is sue on the board Public Service of New Jersey lost vl point and Consolidated Gas Gas' only i a point There were exceptions to the de dc due cline Brooklyn Queens Transit preferred rose more than a point and it its common point preferred gained more than a point Spear Co made a new high early in the tho session and held part of a again again gain of a point Most of the leading issues were dull Small declines were noted in U. U S. S Steel Westinghouse Electric American Can Du Pont General Motors Chrysler and New york Central U. U S. S Industrial Alcohol lost more than a a point to 41 on a few trans trans- actions Other alcohol issues were dull and easier Bonds behaved about the same as stocks Trading lightened and prices made an irregular decline Cotton futures were around the previous previous pre pre- close and grains were barely changed 4 This week the stock market lacked Jacked strong leadership and concentrated concentrated con con- on priced low shares and anda a few special issues while th the main list just about held its own in lighter light light- er turnover F Volume was fairly large with two days over shares and the others well above the There were severe periods when tickers ran several minutes late There was no definite trend because because be- be cause of myriad uncertainties cen centering centering on Washington These included ed bonus legislation substitute for forthe the tho A A A and the outcome of the supreme court case involving the tho Tennessee valley authority Traders had hoped for the T V A decision Monday and that it would be a victory vie vic tory for utilities They were disappointed pointed but did not sell utility stocks The utility average hit a anew anew new high since 1933 and closed the week slightly higher Railroads also made a fairly good showing a sizeable list making new highs Car loadings were the best since before the holidays November Novem- Novem 4 ber Income showed gains Automobile shares were watched carefully for a clue to the future of the market They were expected to rise if a bonus bill is passed If they do not commentators said the market run might into real sell sell- ing During the week the leaders held fairly well and closed with moderate mod mod- crate erate losses Automobile production dipped from the high rate of last week Steel operations gained slightly but there were many uncertainties in the industrial Including a 10 point drop in tin tta output slowing of purchases from agricultural regions on the elimination of A A A and uncertainty over the future of automobile automobile auto auto- mobile orders Coppers had a whirl for a time but quickly sagged again Heavy trading was done in priced low shares Most active stocks of the week wore were issues selling under 20 a share and a long list sold under underReports IT 10 Reports for 1935 were beginning substantial to appear and most showed hal gains over 1934 Business news a awas was mostly favorable Electricity output resumed its rise Building held well Retail trade gained 4 to 8 per cent over 1035 Another break in silver prices f tea tea- ea- ea the commodities Silver at New York descended to 45 cents an ounce off 4 cents on the week r |