| Show IGHT sEiLING NG STEPS LEADING STOCKS jJ BOWN FOR DAY SUPPORT GOMES COMES IN FINAL HOUR HOURy B By y VICTOR EunA EUBANK t Associated Tress Financial Etor Editor NEW YORK Aug Au 27 Light 27 2 Light selling ul- ul sell delI j ing l. l partly on a revival of European py war fears tea put a crimp crip In i Saturdays Saturday's stock market maket and leading Issues hue stepped down don fractions to more than ta 2 points pit at the te worst worst Support appeared appa In I the Ule final hour and ad earlier ele weak we motors st steels ls rubbers anti and ad a wide assortment assort assort- ment of specialties cut ct losses loses u substantially sub sub- although h volume dwindled dwindled dwin dwin- died noticeably on the te come Transfers were re around aoud O shares shares Nervous holders holder brokers broker said al got out in the te early ery part par of the te session lon as a the te speech of Sir Sti Si John Joh Simon Sion chancellor of the Brith British exchequer came ce in on the te boardroom borrom news tickers While Wie the te Simon Smon address urged peaceful settlement of ot the te Czechoslovak Czecho slovak controversy It was wu not overlooked overlooked over over- looked that tt a warning was vas Va sounded that if I Germany Geray starts t a conflict In Incent central cent Europe England might be compelled to fight and ad that other world powers power may be drawn draw In In Most In Wall Vall Wal Street Street however viewed the te chancellors chancellor's statement as asmore asmore a more mor conciliatory than tan otherwise otere Business uness news new continued to pro pro- pro Tide moderate cheer for bullish forces but many may commission house customers customer decided dedde It I was best bs to be b on the te safe ufe side aide over the week end nd and to await awat further further further fur fur- fall faU forecasts forecasts fore fore- ther assurances recovery for casts would woud be b a reality reIt Adding somewhat to apprehension over affairs abroad were advices the te British home fleet feet would wold reach fighting stations in the te north nor of ot Scotland during the te week of the nazi nui party par congress congre at Nuremberg and ad the start next Thursday of ot Important important im Im- Im- Im French Fenc army ary maneuvers In the matter mater of ot motor stocks stock at attention at at- tenton was given Wards Ward's reports which advanced the opinion the automobile automobile au au- au- au production cycle has ha been bee modified and ad that tat the te rise rie from hero her s on will vl not be as as pronounced as a in I the previous year yea At the te same time observers found prospect prospects prospects pros pros- for sales sae of new ne cars cr after Labor day exceptionally bright bright Steel Stel derived some lome aid Irons from estimates that tat next weeks week's weeks mill mi operations would at least maintain main main- mn- mn tam tain t recent gains and probably register another small Increase There Tere were one or two heavy rails rl but the majority confined setbacks to t minor fractions Utilities were quiet and most were only a shade down don Amusements r reflecting e tIe c tin g broad hopes hope for tor a pick up In theater teater attendance as a the te dull dul summer season season season sea sea- son ends end end were again agan among the te re resistant resistant re- re stocks stock Bonds were under moderate pres pres- sure Commodities were mixed Wheat at Chicago Ciago thought though turned strong in the te wake of the governments government's governments government's govern govern- gover- gover ments ment's announcement of a buying program for this tL cereal Leading foreign markets were closed cosed but further gold hoarding abroad resulted in another boost of the yellow metals metal's meas mea's price In i London London Ln- Ln Lon Lon- don to within reaching distance of ot the recent high high Foreign currencies curen- curen curren curven- des cies ces generally were lower In terms of the dollar dolar Lacking much rallying steam were General Genera Motors Chrysler Libby Libby- Owens Oens U. U S. S Rubber Sears Roe buck American Telephone Western Union U. U S S. S Steel Steel Manville Johns John Union Carbide Philip Morris Morr American Smelting Union Pacific and ad Standard Standard Stand Stand- ard ad Oil on of N. N J. J Contesting the trend were Bethlehem Bethlehem Bethlehem Beth Beth- lehem Steel Steel Santa Fe Loews Lewa Dome Mines Mine McIntyre tyre Porcupine Pa Pathe Pate the Radio and Twentieth Century Fox Curb shares share were generally In ar ar- ar- ar rears Aluminum company compa dipped more than 3 and ad losers loser of around a a point included Chicago Flexible Flexible- Shaft Shaft Nehl corporation Montgomer Montgomery cry ery er Ward A and Gulf Gul OIL Small Smal gains gain were posted for tor Lake Le Shore Shore- and Wright |
