Salt Lake Telegram | 1946-12-27 | Page 19 | Selected Stocks Climb in N. Y., but Many Leaders Stumble

Selected Stocks Climb in N. Y., But Many Leaders Stumble NEW YORK, Dec. 27 W Selected Se-lected stocks managed to ret back la the recovery van on Friday'i market, while many leaders, for the fourth successive session, continued con-tinued in lower territory. Dealing's tapered after a fairly active forenoon and losses of fractions frac-tions to 2 or more points were reduced or converted into plus signs here and there at the close. In the supported area were Southern Railway. Great Northern, Santa Fe. Du Pont Woolworth, International Harvester, American Can and Union Carbide. Stumblera included Bethlehem, General Motors. Goodrich, Sears-Roebuck, Sears-Roebuck, Montgomery Ward, DouKlaa Aircraft, Kennecott American Bmeltlnff, Dow Cheml-1 cal. J. C Penney, Eastman Kodak and Texas Co. Replacement purchasing; by those who had sold for tax purposes, pur-poses, together with bidding; for a possible year-end rally, provided the principal bullish factor. Skeptics Skep-tics still trimmed accounts, however, how-ever, pending developments In portal-to-portal wage suits, now ap-proaohing ap-proaohing the billion-dollar level, while others stood aside to await mora light on falling commodity prices and tha course of 1947 business. Followers of transportation securities se-curities noted the figures of the Association of American Railroads, which revealed that although the railways of the United States in handled the greatest volume of traffic of any peacetime year, their net earnings dropped almost to the low depression levels of the 1930s. Studied also for market clues was the report of the commerce department indicating that United States consumers spent a record $127,000,000,000 for goods - and services this year, which was 21,-000,000,000 21,-000,000,000 over the previous peak reached in 1945. The Jump, though, was ascribed partly to 'higher prices, which averaged 10 over last year and better than 40 above 1941.