Show TOCK SLUMP FRACTIONS FRACTIONS' TO 2 POINTS TRADING JOGS JOOS AT SLOW PACE By VICTOR EUBANK Associated Press Financial Editor NEW YORK April 19 Rallying 19 Rallying attempts were feeble In Tuesdays Tuesday's stock market and leaders dropped fractions to 2 points generally with witha a few off more Selling pressure w was a s light throughout with the ticker tape tapo 1 seldom eldom working up even an appearance appearance appear appear- ance of liveliness Transfers were n the neighborhood of shares hares V Washington happenings furnished speculative contingents with meager mea inca ger buying ammunition at the best md and the most that could be said for forthe he the business scene was that it continued continued con con- an exceptionally spotty af fair Trading forces on the whole seemed a trifle confused over in inflation in possibilities and until dis discerning a clearer light on this dis disputed disputed dis- dis subject commission house customers were inclined to go light lighton on either side of the market Slowly Lose Ground Steels motors farm Implements implement mail orders and specialties led the slow retreat Occasional support came into the list but it was too timid to have much effect At that extreme losses were reduced hero here and there near the close The senate house deadlock on the tax ax revision bill with signs it may be some time before this measure gets out of conference did as much muchas as anything else to chill sentiment in board rooms Aircrafts were fairly resistant as hopes revived that congress would eventually approve an appropriation tion for additional navy planes European markets opened strong after their lengthy Easter holiday bolstered apparently by the turn for forthe forthe the better in peace prospects abroad Among Losers Among falling domestic stocks were United States Steel Bethlehem Bethle hem General Motors American Telephone Sears Roebuck International Harvester Caterpillar Tractor Tractor Trac Trac- tor Standard Oil of New Jersey Anaconda Westinghouse house Du Pont Allied Chemical Eastman Kodak American Radiator Radiator Radia Radia- tor Union Carbide and Loews Loew's First quarter earnings statements on the whole provided scant recovery cry ery food the majority revealing sizable declines from 1937 the prominent companies reporting General Electric showed 25 cents a ashare ashare share against 40 cents in the same quarter last year Union Carbide suffered a sales drop of 35 per cent in the first three months Announcement of the treasury that it had formally abandoned its gold sterilization policy while viewed as en an inflationary gesture by Wall street apparently was without stimulating qualities marketwise mar mar- The step had been expected following last weeks week's tion move Also it was not overlooked over over- looked that Secretary indicated the gold policy was on a day to basis That the governments government's pump priming program may require a month to six weeks or longer to get going even if it overcomes legisla tive opposition to some of its phases was seen as at least a near near- term restraint for markets Handicapping the automotive group was the continuance of labor difficulties at Detroit where the drive of unions to force dues col from members hit plants of General Motors I I I I |