Traders continued to be cautious on the Stock Exchange today with prices moving irregularly lower in one of the most dull and slow session recorded this year. The lack of buying interest rather than selling pressure was responsible for the easier -tone of the market. Brokers ascribed the continued dullness to uncertainties prevailing over the domestic coal situation and general foreign outlook. Business news was mixed. Steel operations are at the lowest level recorded since September 26, 1938. However, the decline is smaller than anticipated, in view of the sharp cut in activity in the major portion of the Pittsburgh' District as a result of the coal strike. Favourable news today included: the statement of Mr. Harry L. Hopkins to the effect that a moderate rise in business appears to be in prospect; record first quarter sales by Montgomery Ward; a new 1939 high for lumber shipment order in the week ended April 29; and. the Outlook for some business aid legislation during this session of Congress.
By Courtsey of S. E. Law & Ca.
Buying last week was not particularly impressive and larger transections were on the selling side,
Text read from the printed page and cleaned; old type leaves the occasional error.