| Show RISE AS PIVOTAL LS LOS LOSET IE GROUND E EARLY DECLINES PARED ARED P AT CLOSE By VICOR VICOR EUBANK Associated Press Financial Editor Edi r rEW NEW EW YORK Nov 22 Aircrafts with witha a few exceptions continued to point moderately higher in Tuesdays Tuesday's Tuesdays Tuesday's Tues Tues- Tue- Tue days day's stock market while many pivotal industrials jogged along over overa over overa a slightly lower trail trai Early losses ranging from fractions fractions frac frac- tons to a point or so were reduced in many cases at the close lose but the theline theline line lne of least resistance was still sti downward Motors Motor came back after afternoon afternoon noon and virtually erased morning declines Dealings were about as u slow as asin asin a ain in Mondays Monday's loitering session with wih transfers approximating shares Tax Selling Hampers Further laggard tendencies were attributed mainly to tax selling for income returns to additional weakness weakness weakness weak weak- ness of the British pound in terms of the dollar dolar and to the desire of many commission house customers to step out of f the speculative picture pic pie picture ture over Thursdays Thursday's Thanksgiving holiday when when the exchange will wi shut down Business news on the whole was wa far from depressing although some thought was wa given to a flattening out of the upward curve in the near term with a later resumption of the forward move Aircrafts while the best throughout through through- out were hardly as buoyant as in inthe inthe inthe the preceding day and several sl slipped behind minus signs as profit selling made its appearance Caught in Ebb Tide Inclined to back away were U. U S. S Steel Bethlehem Sears Roebuck Douglas Aircraft American Zinc Anaconda A American m e 1 1 c a n Smelting Union Carbide Western Union and Southern Railway New highs for the year were registered reg reg- by Aviation Corp North American Aviation and Consolidated ed Aircraft Supported were Boeing Bendix Cello Ex-Cello Aircraft Goodyear Goodyear Good Good- year American Can Chesapeake Ohio Dupont and Phillips Petro Petro- leum Bonds emulated stocks and commodities corn com were uneven Sterling near was off 2 8 5 cents at and the French franc was down dawn 01 of a cent at 8 3 cents Wheat at Chicago was unchanged to up cent a bushel and corn was unchanged to 8 3 improved Cotton Cotton Cot Cot- ton in late transactions was up 10 cents to off 15 cents a bale Advance On Curb Somewhat higher in the curb were Ballance Aircraft Lockheed and Toad Tood Shipyards Backward Back Backi ward were Electric Bond Share N. N J. J Z Zinc I n C and American Cyanamid Cyanamid B Recent pressure on the British currency was blamed partly on heavy American exports to the English Eng Eng- lish in addition to political unsettlement unsettlement unset unset- occasioned by the racial upheaval in Germany Although some in Wall street thought the aviation stocks may have gone ahead too fast strong hopes for the plane makers were maintained in view of rearmament prospects If the defense program is carried out to the lengths ex expected expected ex- ex it was predicted several aircraft air aircraft craft plants might go on a hour 24 basis Scrap Copper Cut Another cut in scrap and export quotations for copper tended to chill most stocks in this division The majority of rails held to a narrow rout as earnings for a number num nurn- ber of roads reflected better traffic traffic fic and aid for needy carriers was looked for at the next session of congress A prop was found in a statement front from the National Retail Dry Goods association which foresaw one of the best Christmas seasons in years A straw in the financial wind was seen in statements from Individual banks in leading cities disclosing debits to individual accounts for forthe forthe the week ended November 16 rose 15 per cent from the preceding week which included only five business busi si ness days and were only 7 per percent percent cent below the total for the same week last year |
