Salt Lake Telegram | 1938-11-21 | Page 17 | Aircrafts Resist Press Pressure in Irregular Stock Market

PRESSURE T STOCK MARKET BUSINESS BUSINESS NEWS By VICTOR EUBANK Associated Press Financial Editor NEW YORK Nov 21 Aircrafts 21 Aircrafts proved popular in Mondays Monday's stock market but most other groups had difficulty in id attracting even mild support Business news on the whole cons con moderately cheerful and some comfort was found in the ap apparent apparent ap- ap parent easing of foreign tension but speculative forces generally exhibited exhibited little litte appetite for the buying side pending more conclusive evidence evi dence the market has completed the corrective movement following the lengthy upturn Gains ran to 2 points or so among scattered favorites but numerous stocks were unchanged and minor losses were plentiful at the close Encouragement was derived from the fact selling was exceptionally light throughout Transfers approximated shares Steels Under Pressure Steels were under pressure at one onetime onetime time bu bub did better when this weeks week's mill operations were officially estimated off only 7 of a point at per cent of capacity A larger drop had been expected in some quarters Rails were rather resistant as last weeks week's freight loadings were believed to have expanded Up most of the time were Douglas Aircraft Boeing United Aircraft Wright Curtiss-Wright U. U S. S Rubber preferred pre Bethlehem Western Union Southern Pacific Chesapeake Ohio National Cash Register and Philip Morris Backward were Chrysler Youngstown Youngs Youngs- town Sheet Montgomery Ward Westinghouse General Electric Allied Chemical and Great Northern Bond List Uneven Bonds were uneven along with commodities Wheat commodities Wheat at Chicago was off 8 8 1 to 8 5 of a cent a bushel and corn down corn down 3 c to Ic Cotton In late transactions was up 15 to 25 cents a bale Sterling near was 8 7 of a a cent lower at 1 The franc was 00 5 16 of a cent In arrears at 9 16 cents Foreign securities markets were ragged In the curb buying attention was given Aero Supply Aircraft Air craft Fairchild and Humble Oil Comparative liveliness of the aviation avi ayi- group was attributed attributed- partly to reports military authorities would push building of first first- line planes to above the mark Carriers In the Black BlackIn In addition were estimates the thO transport passenger services were in the black in October for th the first month this year with travel the heaviest in the the- history of this industry Most coppers exhibited a lack of vigor although none was particularly particularly weak as scrap and export quotations for this metal were again lowered Oils had to con tend with signs sigis of reduced profits for some of the larger companies Texas corporation reported a ashare ashare share for nine months against in the same 1937 period Directors though voted the regular quarterly dividend of 50 cents On the side of the motors were forecasts aggregate net for the main producers from now until the end of the year may exceed last years year's levels unless the retail sales trend is reversed