Stock prices developed no dednite trend today, despite the continued demand for selected issues. The announcement that the Allies plan to buy $1000000000 worth of "planes and parts had only a mild effect, since the rumours have already been discounted. Reports that rail earnings are moving up affected rails only slightly, Near the close a wave of selling hit some leaders, with Chrysler dropping 2%, US. Steel %, US. Rubber % and most aviations losing their earlier 1 point gains, Stocks: Were in moderate supply near the close, probably reflecting the unwillingness of operators to carry their commitments over the weekend in face of the tenser Swedish and Russian situation. Bank Clearings during the past week were up 145 per cent. The "Times" Index of business activity was placed at 96.6 against 98.8 for last week, Dividends: Allegheny Ludlum Steel Corp. $025.
Cotton: Ruled firm. The technical situation continues to be a factor of strength. Spot houses were selling March on the scale-up and buying May and July. Of six brokers' opitions taken, five were bullish and one neutral.
Wheat: The belief is that further advances will meet with hedging. Loan releases and profit faking are tending to confine new buying to reactions. A forecast of additional moisture, near normal temperatures and European war and crop news were probably the leading factors in today's market, Rubber: Declined on easier cables, continued March liquidation and dealer selling in July and September and a slack demand for actuals, Shipments of casings during January totalled 4,276,000, production 4,976,000, stocks 9,389,000 and exports 89,000.
Hides: Both spot and futures ruled quiet and featureless. March liquidation and switching provided the chief activity.
Sugar No. 4: The market was idle, London Money Market London, Feb. 24.
Loanable funds on the whole were readily obtainable for overnight loans in the London money market during the past week. The continued inflow Of taxation was responsible for another under-allotment of Treasury bills.
The average rata which bills were allotted was a fraction under last week at 21.06, and the lowest level recorded for the war period.
Owing to keen competition for bills, the market only received 32 per cent. of their requirements.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.