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Show LATE SELLING OF INDUSTRIALS, RAILS UNSETTLES STOCKS UTILITIES, AIS MEETJUPPORT By VICTO EL-BANK Aessrlatsd Press lHaMLBelal 41 U NEW YORK, Jan. T-Lata aelllng of pivotal Industrial! and rails us-ssttlsd us-ssttlsd the stock markst laturday and Isading Inula dropped frae . tlona to a point or so, with a few losing tut.' UtillUsi and aircraft! received buying support throughout, but the majority of these gave ground at the olose. Dealings win relatively slow antll thi final fiw mlnut4i vrban thl pace qulckmid. Transfsrs wire around 400.000 shares. Wsll street watched Washington and thl proposed big spending pro gram closely, but epeculstlvs forces, oa thl whole, seemed dlelncUaed to take aa Inflationary ride until It could be determined more definitely how strong was ths opposition la congress to ths "blank check" method meth-od of .disbursing rallsf and other funds. UtIUtlee rreve Active UUlltleo again wire active. Reasons Rea-sons given were that theee stocks had been pretty well deflated, that tha major companies la this lins are continuing to show good earnings, earn-ings, and that It was possible congress con-gress would balk at appropriating further money for duplication and competition with private power concerns. A hand was given ths aviations on the theory this category may have been oversold and that plana manufacturers will get a suable slice of armament profits notwithstanding notwith-standing recent disappointmsnt ovsr smaller than expected Increases recommended. The outlook for ateels, motors and rails was thought by many brokers ta be cheering, but such issues ii U 1 Steel, Bethlehem Steel, Crucible. General Motors, Chrysler, Yellow Truck, Great Northern, Southern Pact f to and New York Central were behind during thl greater part of the proceeding! and lad a further line at thi finish. Behind Plus Signs Exhibiting modest plus slgna most of the time were North American, Amer-ican, Consolidated Edison, American Water Works, Brooklyn Union Gas, Douglas Aircraft, Unltad Aircraft. Sparry, Philip Morris, Left and Canada Dry. lomi of these eventually even-tually allpped. Although thi ixport price at eop-i eop-i per wai advanced, Anaaoada, 1 Konnioott and Phelpe Dodgi usual-' usual-' ly wars In a lower drift. Financial quartan were not -i down-hearted deepits ths Irregular , market pattern. Theee recalled that past marksts have displayed nervous nerv-ous tendencies In thl Initial days ef aonavaaa . - . , Ths latest protective measures adoptsd by the British government for sterling gave this currency aa-other aa-other boost In terms ef the dollar. Bonds and commodities ware mixed. . Advance aa Curb Lockheed ran up more than a point In the curb and fractional gains wars turnsd In by Elsctria Bond and Share, United Light and Powsr A and Niagara Hudsoa Power. Amerloan Gss and Electric Elec-tric leaned back narrowly. Among Items receiving the attention atten-tion of market analysts were: Ths federal reserve board report-id report-id department store sales throughout through-out thi nation In thi last weak of list were 1 per cant abovi the volume la the corresponding period of, 1137. For four weeks ending December II, with ane more bust-asss bust-asss day than thi preceding year, ales wen 4 per cent greater. Trade lummarlaa disclosed leading lead-ing chain stores and mall order houses during December enjoyed the beet sslee for any month since September, 1917, with some important impor-tant organisations achieving the largest distribution In their histories. histo-ries. Early figures Indicated increases in-creases ovsr ths final month ef tha previous year were la the neighborhood neighbor-hood of I per cent Observe In the construction field predicted a substantial sa pansloa of profits during tha first half of IMS for the building material mate-rial and home furnishing industries. 1 T ME PA C T T AREA OF . CANADA, U.S.A. & EUROPE Canada, mnnim- UNITEO STATES EUROfE tmtTkM IUCL auttlA) j, MlttloH K2UAJH AIILU ' ' ' ' |