Salt Lake Telegram | 1941-02-14 | Page 23 | Stocks Backfire in Active Trade Bringing One to 2 Point Drop

f t B in Active Trade Bringing One to 2 Point Pt Drop Drop 1 PRICES FINISH NEAR BOTTOM By VICTOR EUBA EUBANK Associated Press Financial Editor NEW NW YORK Feb 14 The 14 The I Istock stock market engine backfired again Friday and knocked over leading issues 1 to t more than 2 points and scattered blue lue chips as s much as 4 or so The list dipped at the start sta on fairly airly active dealings rallied at intervals then resumed the retreat retreat re- re treat reat in the final fial hour While resistant spots were In evidence at t the close cose prices generally finished fin fin- fn- fn shed at or near bottom Despite Despie intermittent slowdowns slow- slow downs lowns dows transfers picked up to around round shares largest turnover since early January Januar The days day's drop put the market on average at about the lows of last ast June Persistent International warries worries wor war ries res brokers said were mainly responsible for the extension of the decline although fears fear of mounting taxes and their repercussions repercussions repercussions reper reper- I on corporation profits was thought to have inspired part i of the gloom which enshrouded financial quarters Growing war tension in im the orient orent and southeastern southeastern southeastern south south- eastern Europe in particular was relieved believed to have caused many shareholders to shelve commitment commitments commitments commit commit- ments ment and await awai clarifying foreign foreign foreign for for- eign developments Business news remained good gooc goodin in in spots but even here the optimistic optimistic opt opt- theme seemed to to have dulled a trifle trie Reports Report the treasur treasury treasury treas treas- ury ur hoped to pay for two-thirds two of the defense program through though a wide variety of taxation also served to chill chi sentiment in so some sopie e quarters Rails flails Rais utilities coppers oils ois mail mai orders and rubbers put up an occasional show of combativeness combative combative- ness but the majority failed to exhibit real bullishness Prominent share losers were United States Steel Bethlehem Crucible Youngstown Sheet American Telephone American Smelting Douglas Aircraft Aircraft Air Air- craft craf International Harvester Westinghouse American Can CanDi Du DuPont DuPont Pont Union Carbide Allied Aled Chemical Eastman Kodak Kress Santa Fe Great Northern anc and J. J C. C Penney Among curb sliders were Aluminum Aluminum Alum Alum- mum of America Colts Cols Patent Paten Firearms Lake Shore Humble Oil Oi and Borne