The Archive · 1938

Tuesday's Closing Quotations

New York, Dec. 6.

Irregular conditions early prevailed on Wall Street today, owing to a little profit taking and tax selling, which, however, was readily absorbed. Later, the market turned firm and stock prices mostly finished from fractions to about one point higher. The advance was partly attributed to "quick turn" buying based on the belief that a technical rally was overdue. Aircrafts were prominent. Steels displayed strength, as some steel leaders expect that business will be well sustained into the new year. Motors received support on the easing of labour tension, while merchandise ings held firm, although there are no signs at present of runaway holiday buying. Coppers and rails also joined the upward movement, the latter on, indications of a sharp rebound in carloadings. Meanwhile, a sustained rally is not anticipated at present. The turnover for the day amounted to 990,000 shares.

Text read from the printed page and cleaned; old type leaves the occasional error.

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