Cheaper Issues Find Favor; Prices Mixed: Trade Thickens A Bit
NEW YORK, May 18 (AP)ÛÓThe stock market churned slightly higher this week as interest rotated from recent blue chip leaders to many of the neglected issues.</br></br>Sugars, spurred by leaping prices for sugar in the com-jmodity market, and rails, helped by some favorable mews, afrorded the list what ;group leadership there was.</br></br>' The market, however, continued the switch in interest ÐÊ that developed late last week. Previously, the 1963 market advance has been led by high quality slocks of proven worth. The big news about the market now is that the cheaper, less-seasoned issues are again getting a whirl. This usually reflects greater participation by the public. As yet, however, this clue to increased public participation has not been borne out by daily statistics on odd lot trading.</br></br>Despite the increasing switch to cheaper stocks, the odd loiters still remain more | active sellers than buyers, and I at about the same ratio that has prevailed ever since the current upswing began.</br></br>Typical of the fading of the blue chips was a decline by General Motors of 1% to 70%. Universal Match rose % to 16%, Continental Air Lines 1% to 11%, Pennsylvania Railroad 1% to 16% and South Puerto Rico Sugar 3% to 4714.