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Show INDUSTRIALS AND STEELS RALLY TO LEAD STOCKS HIGHER PROFIREHIHir HITS AT CLOSE By VICTOR EL BANK AsMHatrd Pre Financtal Editor NEW YORK. Dec. 0 Industrial i stocks took - their - tu from the -, steels In Monday's market and put on on of th. bast rallies la several weeks, . While gains at the beat ran to 4 or mora points among favorites, lata cashing of profits and a sprinkling sprin-kling of year-end tax selling served 1 to cut down top marks at th close, ; Dealings van lively for a time In th morning, but the paoa slowed ' later. Transfers approximated i 1,400.000 shares. With talk of rearmament taking hold of speculative imaginations, buying was concentrated mainly in stocks of those companies that stand to benefit If the government steps up Its spending for war materials. ma-terials. Unaffected by Steel The market was not particularly disturbed by th fourteenth consecutive consec-utive week's drop In steal mill operation., oper-ation., although leaders slipped a Bftwhsn It was officially estimated' production this week would be oft I points at 2S.S per cent of capacity, ca-pacity, a new low sine October 15, 1934. The decline was due principally princi-pally to holiday shutdowns. Market sentiment was buoyed to soma extent by further forecasts th lengthy business recession may be touching bottom. Secondary bonds were Inclined to follow storks. Com modi ties war uneven. Wheat at Chicago was off 4 to up H cant a busheL Corn was to cent higher. Cotton Improved. Among Day Gainer Shares prominent on th up aid Included United Bute Steel, Bethlehem, Beth-lehem, Douglas Aircraft, Boeing, Wright Aeronautical, Anaconda, American Smelting, Eastman Kodak, Ko-dak, Johne-Manvtlle. Westingbousa, Allied Chemical, Du Pont, International Inter-national Harvester, United States Gypsum, Aills Chalmers, International Interna-tional Mercantile Marin and Air Reduction, American Tobacco B turned rather rath-er soft, and rising difficulties were encountered by Commercial Investment Invest-ment Trust, Macy and United Stats Smelting. Rails, utilities, oil and rubbers, on th whols. held to a fractional range. Oold mining issues, such a Dome, Homestaks and Mclntyr, gave ground. |