Show l I s. s ADING STOCKS SLUMP SLUMP AS TRADERS IGNORE GOOD GOO NEWS NEW 1 RALLIES MEET SCANT SUCCESS By Dy VICTOR EUBANK Associated Press Financial Editor Edior NEW YORK YORK May 21 Traders 21 Traders Ignored good news in Saturdays Saturday's stock market and held leading is issues issues is- is 11 J sues down fractions to around two points J The Te fact that fairly constructive J overnight items failed to stimulate buying at the opening chilled sentiment sentiment senti senti- sent sent- J ment appreciably and rallying attempts attempts at- at tempts m me mt t scant success durIng durIng dur- dur Ing ng the remainder of the session Offerings were comparatively light Ight throughout the brief proceedIngs proceedings proceed- proceed Ings however with wih transfers approximating ap- ap shares Utilities edged forward at the start tart but most eventually lost support sup- sup port port ort These were buoyed by the acton action of the senate appropriations subcommittee in barring the use of federal funds for municipal power plant plants lants in competition with wih private companies It I was wa not overlooked though hough that the utility stocks responded responded re- re apathetically Friday to to the agreement for tor the sale of ot the Na Na- National onal tonal Power company's Tennessee subsidiary to the te city of ot Knoxville and nd the TV TVA AVar A. A Var War Scare Revived Revived war tension between Germany ermany and Czechoslovakia h 0 1 1 0 v a k I a threatening the te peace peace of ot continental Europe was seen as a restraining Influence on speculative forces as aswell aswell well wel as the latest governmental at attack attack at at- tack on the supreme court which aroused roused thoughts toughs that the court reorganization re- re organization bill bi might be re ted V The harmony banquet of stock exchange members at which Chairman Chairman Chairman Chair Chair- man DoulIas of the securities and change x-change- ion c commission made what was as as termed an unusually friendly toward the new Wall Wal street set et proved a dud so far as in- in a up run-up in shares was The close cose race in the Oregon primary primary mary nary with wit the called so-called so-caled so C at C antI I 0 O candidate apparently holding a slim margin in the vote was seen as a a cheerful straw in the financial wind But this too left lef markets markets' cold cold Steels Lead Decline Lad Steels led the te slow slide as early from mill mi centers indicated indicted reduction next week might record i a substantial decline Coppers gave round ground as fears of ot another cut Inthe in inthe the he domestic red metal price were voiced Motors mail mai orders farm implement and specialties specialties' reflected carcity of ot future sale signs Rails RaUs held recessions to minor I I 1 I 1 J I I 1 Bonds and commodities were un un- un- un even Narrow were Consolidated V V Edison North forth American Electric Electr Power Light Ight Light Western Union and National Power Light |