Show Steels H old Steady as Traders Wait Clearer War Picture TURNOVER HELD TO 10 LOW LEVEL By VICTOR EUBA EUBANK 1 Associated d Press Pres Financial Editor NEW YORK OR Oct Oct 17 W 3 Stock i 4 traders centered their interest on the te steady stead steel group Jup Thursday I I permitting most of the te market maket to t 4 follow lolow an irregular course coue Operations were mainly of a tentative testing nature held to toa toS a S minimum by the Ue uncertainties 1 of ot war de developments nt About Abut 60 0 shares were wee exchanged t After two days of steady stead although at al- though small sal gains gaIn the share sare list t was liable to experimentation in inan lable I Ian an effort cort to determine trends ted c i None of any real rel proportion developed developed de de- Z throughout the te session cession f I I Steels Show Gains Gan 1 The closest approach to a trading trad- trad i Te cose ing barometer barometer and and it U was not j widely wide accepted was accepted was was a gentle recurrent recurrent re re- current crent lilting lifting movement among f j the steels followed to some extent ex ex- j steel tent tent by aircrafts firmness in tn The comparative Te these tee groups was attributed by f commentators to the te high operating operating ing rates of the te companies represented seated by the shares concerned i but undecided questions of 01 ec excess l' l f profits taxation were we regarded as asa asa r ra a deterrent to prospective buyers 1 Leaders which demonstrated Leader the greatest strength included United Unie States Steel Bethlehem I You Youngstown Dou Douglas las United d Aircraft Aircraft Air Air- sow craft Chrysler American n Telephone Tele Tele- J I phone American Smelting Air 4 Reduction Allied Ale Chemical New NewYork NewYork Ne York Central and Loft Support was feeble for such as a Sears Sears- Sear Sear- j Roebuck Westinghouse Caterpillar 1 lar and Texas corporation Gainers Gainer In tn the curb Included Singer Manufacturing Michigan Steel Tube and Detroit Steel j Products Backward were wore Pittsburgh PiUs Pitts- Pits l burgh Plate Glass Glas and Van Norman Norman Nor Nor- i iman man Machine Tool Tool The official report on last lait Te weeks week's freight brightened brightened bright bright- ened the industrial picture pIcure by showing a more more than seasonal in increase In- In crea crease in rail ri movements mo ement Previous Previous Previous Pre Pre- predictions had been that the important index would show a drop Freh Freight ht Gain Predicted On the te subject of rails rais came a forecast from one reliable au authority su- su that the te volume of railroad railroad rail rail- rai- rai road frel freight ht next year probably would be the greatest of any recent re recent re- re re cent year yer Consumer goods industries were regarded by as re recovering recovering re- re covering from their early etly 1040 recession although not to the ex extent extent ex- ex tent experienced by the te heavy industries A lag In this thi respect is usual Stock Stok traders had opportunity to consider various predictions that commodity prices might be beheaded beheaded 1 headed higher due in part par ac according according ac- ac cording to one commentator to I rivalry for lor skilled workmen which pushes labor costs cost cot up Several companies companie engaged in 1 allied industries were wee reported planning to begin production of general purpose machine tools to relieve the te present bottleneck in II that respect t at |