| Show Profit Taking Puts Brake on Steady Rise of Stock Market r ISSUES REGAIN I Ii i SOME SOM BALANCE LANm By VICTOR EUBANK j Associated Press Financial EdItor Edito 1 NEW YORK Oct I iThe 18 The market bumped into consider ft taking profit-taking Friday but manae partially to regain its its' balance aft al ala a forenoon stumble Losses of fractions J to a point or more for steels and other re rec industrIal favorites were cut replaced with small gains at t lose close close An irregularly lower drift drifton t on n evidence at the start when o c ume me broadened Dealings Dealing th thi slowed lowed slowed until the final hour Nh the he pace again quickened on t 1 recovery attempt Transfers w u around round shares 1 Bel Belated ted purchasing of the ra ri put several of these behind mod plus signs AIrcrafts a brief upward farm farn j tilted higher on a n t turnover A number o of bf special displayed strength Caused by Cashing In InThe InThe InThe The morning setback wai was attributed at by brokers mainly t to t customary cashing in on the theof theof i of a week end following three r i rising sessions Busin news was still helpful and wa war war i provided nothing s si 4 from a speculative s stai I I point Wall street also seem seemed t bit it more cheerful regarding pom i General Motors and Ci about the J were even greater pc of the day although this wee automotive production was WIs e I mated by Wards Ward's at im ima a new top for tor the year to dl It compared with in ii I 1 previous week and a j Ye I I ago l I Among supported stocks Vt I i American Telephone Douglas j jcraft A I craft Sears Roebuck Paramo Santa Fe Pennsylvania Cb dies dies- peake Ohio J. J L I. Case and I II toe i I national Harvester i 4 t Backward most of the time lime t tI t I U. U S. S Steel Bethlehem Crud Steel du Pont Dow Chemi i American Smelting Standard 01 I New Jersey and Consolidated E 1 t son i r Curb issues given a lift Ind American Gas Bath Iron Wo VOl Gulf Oil and New Jersey Zint Zin Acts as Brake i Continued quiet liquidation j American securities by the BrilI c cand and Swiss was reported and V u I I was believed to have acted as u t J Jearly early market brake J I Notice was taken of forecasts J the bureau of agricultural ural t ics that the 1941 outlook for tor fork k involved a program of offense offense expenditures t greater than thanin in the current l' l ji e I with the probability of a II boost in staple prices and i a s reduction of some In lot S I number of unemployed persons perso t In additon to the bureaus bureau in pt 1 attention was paid PaI I Ithe I Ithe the remarks of National Deli Del h Commissioner Chester Davis to I effect that the federal policy polle Y X discouraging exceptionally s L 1 bulges In industrial prices we UT T not be used to prevent a sub i C for fi ts increase in rates II products j 1 1 u ru r |
