Salt Lake Telegram | 1942-02-02 | Page 13 | Selective Demand Keeps Stocks Moving in Timid Trading Session

Selective I Demand Keeps Stocks Moving in Timid Trading Session VOLUME DROPS i iLIST LIST IRREGULAR B By VICTOR Associated A P Press n Financial Editor NEW YORK Feb 2 Selective 2 demand kept the stock market onIta on its Ita feet Monday 1 but real progressive sive alve power was wu lacking Slightly irregular tendencies prevailed at the opening Trends steadied later and while many leaders were unchanged or a trifle in arrears small advances were well distributed at the close Buying was just juat about as timid as u selling however and transfers of ot around shares for the full tull proceedings were among the smallest since June JUM last Jut year Wall street was cheered by word the U. U S. S fleet neet had blasted Japanese Japa nese nose bases basea in Pacific mid and that MacArthur still sUll was wu standing off ort the enemy in the Philippines The speculative and Investment urge at the same time was restrained by fears for Singapore and British reverses in Africa Taxes Dampen Interest A few good business items were overshadowed as in the past month or so by the I thought of taxes and industrial dislocations due to war economy Labor problems problems probe lems began to crop up here and there as u clouds of sentiment Steels did better as this weeks week's estimate of mill operations put the figure up 4 A of ot a point at per percent percent percent cent of ot capacity On the side of ot bullish contingents contingents contin contin- gents was the Southern Pacific statement revealing 1941 net of a share against the year b before fore It was not overlooked though that this stock currently was selling at around 13 a share Among Days Day's Leaders Stocks giving a a fairly a-fairly fairly hopeful account of themselves were U. U S. S Steel Bethlehem Santa Fe Fc Southern South South- em ern Railway Great Northern American Telephone Chrysler Douglas Aircraft Sperry Pepsi Pepsi- Cola Cola Coca American Smelting Smelting Smelt Smell i ing and J J. C. C Penney One of ot the few large blocks to appear was shares of Standard Standard Standard Stand Stand- ard Brands at 4 of oft off 1 Laggards included Sears Roebuck Woolworth Woolworth Wool- Wool worth Du Pont and Chesapeake Ohio Improved in a slim curb were American Gas Republic Aviation and Bell Aircraft