New York, May 5.
Quietly steady conditions prevailed on the Stock Exchange today, with quotations generally closing fractions wp on balance.
Steels showed early strength on the announcement by the Iron end Steel Institute estimating operations for this week at 96.8 per cent. of capacity, @ rise of 2.5 per cent. over last week. Rails and oils met with some investment demand, the former influenced by expectations of higher carloadings due to the resumption of the movement of coal from mines to mills and the latter induced by possible business for the British.
Meanwhile, continued caution amongst operators was noted, with attention focussed mainly on developments in Eastern Europe.
The volume of trading totalled 420,- 000 shares.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.