Stocks Turn Quietly Uneven; Margin Rise Rumor Persists: S & L Shares Dip
NEW YORK; Sept. 27ÛÓ Stung by rumors that the Federal Reserve Board is considering an increase in margin requirements, Wall Street traders played a wait-and-see game today. Trading activity was well below</br></br>NEW YORK; Sept. 27ÛÓ Stung by rumors that the Federal Reserve Board is considering an increase in margin requirements, Wall Street traders played a wait-and-see game today. Trading activity was well below some 80 per cent of the money value of all stocks listed on the Exchange, was up 0.03 point to 96.79 and the New York Stock Exchange index, taking in virtually the entire list, gained 0.03 point to 53.69.</br></br>Advancing and declining stocks fought it out all day, with the losers coming out on top by a 637 to 599 margin, the difference was much narrower than the 869 to 395 mar- norms and market indica- gjn chalked up by the declin-tors showed a scrambled! ers on Tuesday. New highs</br></br>Wall Street legend holds that the Fed always acts on Thursdays, although this has not always been true, brokers aware of the high level of customer borrowings and the frantic trading activity appeared inclined to wait it out.</br></br>Losses in some key stocks sent the Dow Jones industrial average to a loss of 4.04 points at 933.14. Among the bigger losses in the Dow stocks, United Aircraft, which started a rights offering today, fell 3ViåÈ points to 87. Anaconda, Bethlehem Steel, Du Pont, Johns Manville and Standard Oil (New Jersey) all lost a point or more. General Electric was up two points and Eastman Kodak gained 1%.