New York, Dec. 22.
Prices on the New York Stock Exchange closed firm today following Another quiet session.
The rule permitting stock sales for tax purposes up to the final session of the year was expected to delay many such sales until the last minute on the belief that a rising market, following tradition, will be in progress then.
Consequently, it is believed that last minute selling is likely to temper any advance. However, conversely, early tax sellers may enter the market at the last minute to replenish their holdings.
Meanwhile, notwithstanding tax selling and the threat of further foreign liquidation, many experts believed the line of least resistance for the market still points upward.
There will be no extra Saturday holidays before Christmas and New Years.
A firm undertone regarding investment was noted today, especially in higher priced issues.
Aviations were higher today on the belief that foreign belligerents will soon increase their orders for American planes. Rails were firm and utilities were steady. Oils showed small gains while mercantiles were higher.
Steels eased, motors were firm, rubbers ended up around their previous closes. Coppers were neglected while building materials, rail equipments and amusements were firm—
United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.