| Show Business Business To Today ay- ay Taken Calmly By Stock Mart Marty Sy By y PAUL GESNER AND ANi rOJIN OIIN BECKLEY NEW YORK Aug 2 The Telegrams Telegram's Telegrams Telegram's Tele- Tele grams gram's Special News Service President resident Roosevelt's plea to congress congress congress con con- gress for authority to control prices and ind rents to avert rising living costs for Mr and Mrs Average American merican and end at the same time keep materials cheap for defense IndustrIes was calmly rec received ived by bythe bythe the ic stock market this week Said the president We face inflation unless we act decisively and nd without delay r I Shares in the New York stock exchange which had been sagging a little made a final hour rally on Wednesday the day the president president dent asked price and rent powers but even with the rally they ended behind on the session Un other words if there had been inflation in the wind before be be- f fore fare re the president spoke shares Had nad made no violent upsurge on onIt onit onit it and the inflation bogey still was wasa a dead issue stock wise market the rest of the week I IThe I The Associated Press ss average of 60 representative stocks Friday night stood at compared with rith as the week opened a nominal rise of only 20 cents A month back the measure was grid and rid a year ago The 1941 h high gh for the average is 45 45 and the low E min minded Bullish traders ders pointed out that rising tendencies have been dominant in the stock marKet market marlet mar mar- ket let now for six weeks in a row a- a IThe iThe aThe The conservatives of the financial financial financial finan finan- cial community however admitting admit- admit ting a rising note point out that recent gains have been extremely modest I t The Friday evening figure of on the stock 60 average compares compares with six weeks ago go a gain of a little over 6 pet cent ent i I if f Steels and rails were In the van when hen trading opened this week and paced gains of fractions to 3 3 a share or more in the Monday session The days day's dealings totaled shares not far from the share sessions the big brokerage houses need to show modest profits Strength was attributed attributed attributed at at- to better news both foreign foreign for for- eign and domestic Ro RollIng Roiling by of Another nother week without decisive Gerr Ger- Ger r- r inan man progress in the Russian war Cheered many quarters At home both trade activity and corporation corpora- corpora Ion don earnings reports were found much uch better than had been anticipated antici antici- p ted f Among the more active Issues of the week were New York Central Baltimore Ohio Northern Pacific Pacific Pa Pa- U. U S. S Steel Crucible Steel Radio Corporation Goodrich Cur- Cur Wright Lockheed heed General Electric and American Radiator United States government issues held about even in the bond mar mar- ket Industrial utility and railway issues in the corporate division showed only small price changes In the foreign sector however Japanese loans moved up sharply In the week as the Japanese government government gov gov- indicated it hoped to pay bond interest when due despite the freezing of credits here Later the Japanese bonds tilted down down- ward Cotton among commodities In contrast to stocks broke sharply on the presidents president's price message The he southern staple aided by the higher parity loans voted by congress congress congress con con- gress had been moving up fast I but with the possibility of price ceiling by fiat cotton tumbled losing losing los los- ing to a bale before Fridays Friday's recovery restored 60 GO to 75 75 5 cents to shrunken values |
