Stock prices ruled steady today in a session of light trading, with special issues again providing the main features. Market news tended to be unfavourable, especially news affecting the steel industry, which resulted in small recessions in steel issues.
Next week leading steel centers are planning drastic curtailment of Operating schedules. Aviations improved because of news of heavy orders of airplanes soon arriving. Utility common stocks moved mostly fractionally higher. Near the close. the majority of the main list held minor gains.
Stocks: Again ruled firm, especially aircrafts which responded to reports of new Allied orders being negotiated. The "Times" Index of business activity was placed at 1032 against 103.7 for last week and 92.1 for the corresponding period of the previous year.
Cotton: The market is apparently well liquidated, but traders are continuing to adopt a waiting attitude.
Wheat: Ruled easier on further beneficial snows in the southwest. The reinstatement of the subsidy, it is believed, will result in four to five million bushels of Pacific Coast sales to the Orient.
Corn: Featureless, Rubber: Trading was quiet. Shipment offers were high. There was some factory interest in nearbys. while it is reported that delivery is wanted on March contracts only. Only 1,580 tons of barter rubber have been received here up to January 27.
Hides: Increasing sales of spots at to % cent advance were noted. Packers were reluctant sellers.
Sugar No. 4: Conditions were quiet and fully steady.
Text read from the printed page and cleaned; old type leaves the occasional error.