Salt Lake Telegram | 1941-01-13 | Page 15 | Few Rails, Utilities Specialties Survive Light Selling

Few Emails, Utilities, Specialties Survive Light Selling MANY LEADERS TURN DOWNWARD : By VICTOR EUBANK Associated Presa Financial Editor NEW YORK. Jan. 13-U handful of rails, utilities and specialties successfully suc-cessfully contested light selling In Mond ly's stock market while numerous nu-merous lenders nodded at slightly lower levels. Prices were uneven at the start and e Iforts to work up a definite ; trend thereafter generally wera " unavailing. Fractional irregularity persis ed to the close. Traisfers for the full session ap- ' proxinated 500,000 shares, one of the smallest five-hour turnovers in more than a month. Brokers thought many of those who r light have been on the buying buy-ing s de probably held back because be-cause of the almost unbroken advance ad-vance enjoyed by the list since ths first t)f the year. Actually, prices "' had been up on average for three ' consecutive weeks. I Although earning prospects propped stocks of Individual com- paniei;, most optimistic business items seemed to inspire no great " amou it of cheer. I " Steals did fairly well for a time, but i ever got far out in front despite the official estimate put- ting this week's mill operations at a nevr high record fori ingot production. pro-duction. Sana Fe and Studebaker were supported. Earnings (indications for tl e former In 1940! pointed to the bi-st year since 1931, and tha latter s 1940 car and truck sales were said to have been! the largest since 1928. Th war news, if anything, was hopeful and stocks on the London exchange pushed up briskly. Thi expected conge sslonal battle over he bill broadening the pres- ident'i powers to aid the democ-racici democ-racici was said to havef restrained share buyers to some extent.