New York, Apr. 10.
Prices on the New York Stock Exchange staged an irregular recovery today on purely technical grounds. Trading increased and gains ranged up to two points.
Steels were strong early in the session but wavered when it was announced that operations would decline this week. Later steels regained their equilibrium.
(Motors gained easily when selling pressure was removed. Rails and utilities showed small gains while aviations, chemicals and some mercantiles joined in the upturn. Coppers also were frm.
Leaders generally were high, but there were many losses. There was some margin selling after last week's decline.
Bonds were firm except for foreign issues and United States Government issues.
Traders remained nervous over the foreign situation but technical considerations and the restriction of selling gave prices an opportunity to recoup.
Wall Street hears that Europe bought stocks early in today's trading. Mcintyre Procupine is consider an attractive "deflation hedge." General American Transportation's earnings this year are expected to be above 1938. West Vaco Chlorine Products earnings for the frst quarter of 1939 may be 10 per cent. ahead of the corresponding period of Jast year.
Favourable market factors today included
Text read from the printed page and cleaned; old type leaves the occasional error.