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Show METAL SHARES LEAD STOCK ADVANCE IN SLUGGISH MART STEEL-SHARES EXIII3IT GAIIIS By FXMEB a WALZIB L sited Frsss Wiwawdsl EtUtor NEW YORK, Aug. T The stock market advanced fractions ts mora than a point today la (ha dullest trading In several weeks. Steel and non ferrous metal shares led. A strong ton la metal markets) brought demand for Anaoonda, which was the most activs issue and gained moro than a point American Ameri-can Smelting approached 87 for mors than a point gala, and Granby, Miami, Ksnnecott and Inspiration gained fractionally. Steel shares responded to advice that production continues high. U. S. Steel and Bethlehem rose more than a point, while National Steel again reached a new high for tha year at Mti en a fractional gala. Chrysler Gains Revived Interest developed la Chrysler. The company still la undergoing labor difficultlea but re, cent shorts In tha stock reportedly were covering. This brought a gala of assrs thaa point e arotmej 117. General Motors showed moro thaa H point gain. Approach of railroad aagotlatlona with tha brotherhoodg continued to bare a restrlctiv Influence aa ear riar ahares, but they Votned the uptrend. New York Central gained to 40, while Atchison was up a point. Southern Railway up a point, Southarn Paolflo up fractlonaly, Chesapeake 4t Ohio gained 44 to 62 Vt, while Northern Pacific showed a similar advance at SaVe. Utilities attracted mora attention. Consolidated Edison gained ft to 17, while North American firmed. Special issues continued to attract attention. Armstrong Cork was up mora thaa a point and Superheater almost I points. Lethargy Felt Stocks mads littla progress this week and trading dropped off to around tha lightest levels of tha year aa operators waded through a mass of conflicting market guides. A bright spot came la steadily Improving nonferrous metal mar ksts. Export copper at London rose to mora thaa 4 cent above tha domestlo pries, bringing belief that tha 14 cants per pound schedule her sooa may be lifted. Lead prices domestically war increased U) a ton. Metal shares ere re Strang. Ana- con da galnsd mora thaa S points, while American Smelting, Inspiration, Inspira-tion, Ksnnecott, American Zinc, St. Joseph Lead, Silver King Coalition and soma ktwsr priced issues advanced. ad-vanced. Railroad shares were under conflicting con-flicting Influences. Thsy staged tha best rally la months when carriers and 14 no nope rating unions agreed on a S cent per hour wags increase ss against tha union's demand for 20 cents. Rails reacted later whsa traders became aware that the carriers must negotiate with brotherhoods nsxt week and that tha agreement made with nonoperstlng unions will mean about $129,000,000 to 1S0,-000,000 1S0,-000,000 additional expenss if a similar simi-lar compact Is mad with th brotherhoods. |