| Show ADVANCE ADV NCE 1 TO 3 POINTS AS WAR W R FEARS FEAR EASE HEAVY MEA VY BUYING MARKS TRADE By VICTOR EUBANK Associated Press Financial Financil Editor NEW YORK Aug 22 Stocks jumped 1 to more than 3 points in Tuesdays Tuesday's market as the latest Russian German-Russian diplomatic bombshell bombshell bomb bomb- shell shel aroused hopes among traders that a general genera war wa at least eat would be postponed The list hesitated at the start as sentiment appeared to be somewhat somewhat somewhat some some- what confused regarding overnight word from Berlin that Hitler Hier and Stalin had hac decided to sign a non- non aggression pact in the face of desperate desperate desperate des des- efforts of the British and side French to get the Soviets on their The opinion in ill Wall Street however soon gained ground that notwithstanding consternation in London Paris Paris' and Warsaw the latest shift shit in jn power politics might bring a peaceable settlement ol of f the threatening Danzig Danig controversy and ward oft off or an explosion that for forthe forthe forthe the last few days has ha seemed im Im- Im- Im Speculators Speculator Buying With this theory taking hold there was a quick rush lush ush to cover short commitments in addition to relatively heavy speculative purchasing purchasing pur pun chasing of securities both from front here and abroad In n the first hour blocks ol ot 1000 to shares changed clanged hands rap rap- idly There was a subsequent slowdown however as profit taking taking taking tak tak- ing intervened and closing cosing prices were under the tops in most cases Transfers approximated shares In early eary proceedings stock stoc at London Paris and Amsterdam tumbled some to new bottoms since the pre Munich pre Munch r relapse lapse There w was ws s a moderate comeback in these centers enters before the finish The Berlin bourse exhibited strength throughout Prominent on the home front Inthe Inthe in inthe the forward push were U. U S. S Steel Bethlehem Chrysler General Motors Mo o- o tors tons U. U S. S Rubber Goodyear Goodyea Great Northern Chesapeake Ohio American Telephone Anaconda Anaconda Anaconda Ana Ana- conda Montgomery Ward Sears Roebuck Douglas Aircraft Westinghouse Du General Electric Union Unon Carbide Carbie Loft Lof Celanese Electric Auto Lite Lie Auto Johns and Texas Corpo Corpo- ration raton Bond Market et Mixed Bonds displayed mixed des cies ces U. U S. S governments government were soft with some down nearly a point at atthe atthe atthe the worst Italian and German dollar dolar loans were bid up substantially substantially taly while Polish and Japanese issues inclined to give ground Wheat at Chicago one of the main war staples reversed itself and anti lost the greater part of Mondays Monday's Mondays Monday's Mondays Monday's Mon Mon- days day's advance The cereal ended off of 8 5 to 1 J L cents a bushel Corn Cor conceded 34 1 to 1 Cotton Coton in afternoon afternoon after after- noon tr transactions was up 25 to 55 cents a bale Wheat at Liverpool Liverpool Liverpool Liver Liver- pool soared in the morning but eventually yielded a sizable portion porton of its is upsurge Modest improvement in the curb was registered for Electric Bond and Share Aluminum of America American Gas and Gulf GuU Oil Oi Dollars in Demand Demand for dollars in London expanded briskly and the British exchange control was understood to have lost sizable amounts of gold and dollar dolar e exchange change in jn holding sterling around its Hs current level Anent the blurred overseas picture picture pic plc- ture tune one broker offered this thought as a possible market spur Now who's going to fight tight whom over what It I was not overlooked overlooked overlooked over over- looked though that huge armies are now concentrated on the principal principal prin prin- cipal European fronts with fighting fighting fight fight- ing mg potentialities still sti in the as ascendant ascendant as- as While the foreign political poker playing absorbed the main attention aten- aten atten tion ton of the finan financial ial district hopeful hopeful hopeful hope hope- ful domestic business prospects re remained remained remained re- re as a cheering market ele ele- dc- dc ment The broadening in the industrial field feld was exemplified by action acton of the Johns Manville Manvle directors in n i re resuming resuming re- re suming dividends on the company's common stock The board late Monday voted a cent 75 dIsbursement disbursement disbursement disburse dIsburse- ment the first since December last year when 50 c cents a share was declared |
