Salt Lake Telegram | 1940-08-15 | Page 19 | Steels, Motors Lead Early Selective Market Recovery Jog

Steels Motors Lead Ear Market Reco ery Jog STEADY AIR WAR SLOWS TRADING By VICTOR EUBANK Associated Press Financial Etor Editor NEW YORK Aug 15 Steels 15 and motors led lcd an early select selective ve re recovery recovery re- re covery jog In Thursdays Thursday's stock market as a war fears seemed a bit less depressing to trading forces Gains Gain running to a point or so at atthe atthe atthe the best were unaccompanied by increase in pace and at the close cose top Lop ta prices were reduced in the majority majority ma ma- of caes cases Transfers well wel Under under under un un- der those of Wednesdays Wednesday's slow proceedings proceedings pro pro- approximated shares While Wall Wal Street was wa beginning to get the idea the British had about a 50 50 5 chance of repelling a nazi invasion the constant hammering hammering hammering ham ham- mering of Hitler Hiter air bombers at vital English sectors tended to io keep many boardroom customers on the waiting list lit pending more definite information regarding the te conflict It I was still sti realized that thata a sudden enforced peace might prove a severe market shock Comforting to Analysts On the other hand the drying dring up of selling was wa comforting to analysts analysts analysts an an- who have registered bullishness bullishness bullish bullish- the of ness nes over term long spur armament spending and the persistent persia persis peri- peri tent flow fow of good corporate earnings earnings earn earn- ean- ean ings statements and dividends With Wih scattered exceptions business items generally were encouraging Stocks Stock in the fr front nt ranks rank the greater part of the day some day some eventually faltered were faltered were were U U. S. S Steel Bethlehem Chrysler General General General Gen Gen- eral Motors United Aircraft Glenn Martin Martn Sperry Anaconda Anaconda Anaconda Ana Ana- conda American Smelting Westinghouse Westinghouse West West- Wet Wet- General General Electric duPont Eastman Eatman Kodak Loft International al Paper common and preferred Standard Oil 01 of N. N J. J Great Northern North North- em ern and N. N Y Central Central Rails Rail were none too buoyant although most were up at one time or another as a today's compilation of last lat weeks week's freight loadings showed showe a advance Curb Prices Better Beter Doing better in the curb were Aluminum of America Bath Iron Ironworks Ironworks Ironworks works Electric Bond and Share and Phoenix Phoeni Securities Delays in getting the national tax program through congress were said by brokers to remain as asa asa a aa a speculative restraint but the beLief belief be be- be lief lef still sti predominated in financial quarters that corporations would not be as a hard hit it as a many had ex ex- ex- ex Propping aircrafts were reports from Washington Wahington the government and plane makers maker were getting to together together together to- to gether to proceed with wih a brisk brik expansion expansion ex ex- ex- ex panion in manufacturing for de defense defense defense de- de purposes despite despie the fact the question queston of amortization for new plants plant still sti was wa far from being set set- set set- ted tied It I was thought likely a start on new aviation plants would be made soon with the combined cost of those already approved put at more than Additional expenditures expenditures of were mentioned mentioned men men- toned when the official stamp is i placed on submitted plans plan