Salt Lake Telegram | 1941-02-24 | Page 15 | Stocks Whip up Late Rally after Moping as Session Opened

tockS stocks Whip Up Late Rally After Moping a as Session Opened INCREASE SEEN IN BLUE CHIPS' CHIPS By ny VICTOR EUnA EUBANK C CAsso Asso Associated Press Financial Editor NEW YORK Feb 24 Stocks whipped up a late rally in Mondays Mondays Monday's Mondays Monday's Mon Mon- days day's market after moping over an uneven range during the greater great great- er part of the session Steels m motors tors aircrafts and a number of blue chips came back in the final hour and tacked on gains of fractions to 2 points with witha a few posting wider ad ad- vances Dealings picked up a trifle trIne on the raising of bids and transfers for the full fuU proceedings were around shares In the first four hours the total turnover amounted to only The better action of the list was attributed partly to the deduction from the Hitler speech that an attempted attempted attempted at at- tempted invasion of England was not imminent and that a new submarine submarine submarine sub sub- marine smash was the principal threat of the moment to the in introduction introduction in- in in the house of a new newbill bill to amend the excess profits tax law which supposedly would relieve pressed hard-pressed corporations and to the fact that selling had dried up to virtually nothing Douglas Aircraft jumped more than 3 points in the wake of record record record rec rec- ord earnings figures Shares accorded support Included U. U S. S Steel Bethlehem Chrysler General Motors American Telephone Tele- Tele phone shone Santa Fe Pennsylvania Great Northern U. U S. S Rubber United United United Unit Unit- ed Aircraft Westinghouse American American Ameri Amen can Can Dow Chemical Johns- Johns Manville J. J C. C Penney Anaconda Sears Roebuck and Texas corporation Sun Oil on preferred weakened It was learned stockholders would be asked to approve issuance of new class A preference shares Doing moderately well in the curb were American Gas Todd Shipyards Minnesota Mining Manufacturing and United Wall Paper Among laggards were Electric Electric Elec Elec- Bond Share Humble Oil Quaker Oats and N. N J. J Zinc