Speculation has become slower and prices easier on armistice talk. Market fluctuations represent the consolidation of a 20 point rise and not wholesale distribution.
Recoveries in Loews and International Nicket suggest the end of liquidation incidental to war effects Jon certain companies and more confidence on the dividend position.
Utilities have been forced to increase their capacity, also Dupont in the Nylon division' and American Viscose, from sheer necessity.
From consumer goods economy develops a full fledged recovery under push from electrical and railroad equipments and industrial construetion. Forward orders are at @ new high and there is no let-down in buying. Advances in steel scrap, copper and oils reflect necessitous industrial buying, New Corporate financing is encouraging, The market inertia is puzzling, considering the boom in business, but the speculative errors of 1937 are still a bogey. Such scepticism is healthy and cannot blot out rising business offset liquidation.
market closed steady, with quotations ranging from 7 points down to the rubber market today dation, realizing drought section, but towards the close midly recovered on some covering operations and better Wall Street advices, At the final bell, losses of to % cent. were recorded.
New Fork Cotton New York Rubber 1B.74-77 +05 1785-85 +10 17.73 N +3 17.89 N +13
Text read from the printed page and cleaned; old type leaves the occasional error.