Stock prices continued to move narrowly and irregularly today under a light volume of trading. Sugar issues advanced, when the quotas were restored. Proctor Gamble ard also American Airlines touched new highs since 1938. Most leading industrials and rails declined slightly. The tendency towards greater caution today was the result of the warning of Secretary Harry L. Hopkins against placing excessive reliance on war orders. Mr, Hopkins also said that domestic consumption and real investment must be accelerated in order to retain the present high rate of production.
Despite Dependence on Alien Ore Adequate Large Part of Supply Outside War Zone
1 D== the almost total dependence of the United States on!
relatively few overseas sources of supply of tin, an analysis of the situation indicates that the European war does not constitute a serious threat to uninterrupted supply of tin to the manufacturers! of this country. Since a large part of the present sources of supply is outside the war zone, shipping problems now are not difficult and are not likely to deteriorate further unless the war should assume world proportions, states the "New York Times,"
In the last five years it is estimated that 81 per cent. of the foreign tin purchased by the United States was obtained from Asia, 18 per cent. from Europe and 1 per cent. elsewhere. The chief source of supply was British Malaya, which in that period accounted for 69 per cent. of the total. Under the recently enact-jed Neutrality, Law, United States vessels will be permitted to operate freely between this country and Asiatic ports. In the event, however, that pan should become involved in the European war and blockade the ports of Singapore and Penang, the two tin-smelting centres of the Far East, the movement of tin from these sources even by United States vessels might be interfered with.
Text read from the printed page and cleaned; old type leaves the occasional error.