Show c o STOCKS ABSORB PROFIT TAKING By BIDDER ELSIEI ELIR O. O V United Press Financial Eitor Editor NEW YORK March farch 4 Stocks 4 tocks Stocks ab absorbed absorbed absorbed ab- ab heavy profit taking in the tha late trading Wednesday and closed irregularly over ver higher In active turn turn- I L I United States government bonds bond moved roved higher on the heavy over- over of tho the governments government's cw Sew tew financing and the main bond lIst st was wa irregularly higher Gins Gains vero were steady and cotton caler easier Stocks carried forward on their momentum of ot Tuesday during the tho to early arly dealings and the list as a a a. a a whole moved into new high ground since ince 1931 1931 Traders still sti were ened by the tho te Rosevelt Roosevelt proposal to tax ax corporate surpluses built buit up in 1936 1036 and subsequent years however However Howver How- How ever ver late in the day some of ot themore tho the more wary war took profits to such uch extent cx- cx tent ent that the whole market was wa Unsettled un un- settled behind for tor a a time and tickers fell feU Support developed on tho the decline and prices snapped back before the te close lose with wih most of ot the leaders reg regis regis- gains gain Allied Aled Chemical soared oared 9 points point to a a new top at Chrysler and General Generl Motors Motors made new tops since 1929 at 10 7 8 and 63 respectively Chrysler dipped as 03 a low as a 98 8 7 but rallied again agan toward oward tho the 10 mark mark Motor shar shares generally met good god reception and aa were supported after the profit talc tak- ing ng wave Auburn Aubur closed cosed At CO 50 5 up 2 1 Farm Far implement issues came back sharply Case Ce hit 14 a new V high high fell lel to and then rallied International Inter Iter national Harvester Havester in the last lat few minutes s of trading tading shot hot up to a new neV hIgh at 72 u up 2 4 2 points point net net United States Steel common stock made a new high at 67 61 declined declied to 65 6 71 65 and rallied to above 66 68 Rails were rallying as the market closed Utilities were strong and fairly ac ac- ac a tive Uve Mercantile issues were vere in demand Oils Ois gained with Standard of ot New J Jersey Texas Tex Corporation and and Pure Puro Oil Oi at new highs Schenley at at one onetime time Lime was wa up nearly 2 poin points A long highs list of ot special issues made new |