Late Recovery Leaves Stock List Mixed: Sales Continue Moderate
NEW YORK, June 8 (AP)ÛÓA slock market recovery in the final hour brought a ray of sunshine to Wail Street today but it came too late for the market to end in anything but an irregular state. Trading was moderate.</br></br>Losers outnumbered gainers by 587 to 440. Gains by pivotal blue chips, however, nudged some market indicators to the upside.</br></br>Most of the day the market loafed with prices irregular and the averages tilting to the downside. The poor behavior, however, brought no great rush to sell. The Dow Jones industrial average held just below the 700 level. The ability of the market to hold its ground was said by analysts to bring in some buying near the end and this moved the Dow industrials up to 701.69 for a net gain of .83 on the session.</br></br>The Associated Press average of 60 stocks dipped a minimal .10 to 251.20 with industrials up .20, rails up .50 and utilities down .70.</br></br>encouraging. Predictions were made that the fourth quarter would witness a buying rise for machine tools, construction equipment and other manufacturing machinery. Auto production was expected to pick up from the Memorial Day holiday week.