Stocks Reach Peak as Turnover Drops: Blue Chips Gain Sharply
NEW YORK, July 31 (AP)ÛÓThe slock market poked to a record peak today as trading dwindled to the slowest rate in more than a month.</br></br>Sharp upswings Tor some blue cbip issues carried the popular market averages to new highs. Actually, price losers slightly outweighed the gainers.</br></br>Aircrafts, rubbers, coppers, tobaccos and drugs scratched out modest gains. Steels, chemicals, aluminums and oils generally receded. Motors were mixed.</br></br>The Associated Press average of 60 stocks, nonetheless, pushed ahead 40 cents to an historic high of $235.10, breaking WednesdayÛªs record by 10 cents. The industrials rose 40 cents to a record $353.90, the rails advanced 30 cents and the utilities gained 40 cents. The Dow Jones industrial index, hitting a new high for the fifth straight session, climbed 1.51 to 674.88.</br></br>Of 1196 issues traded, 487 advanced and 496 fell. New highs for tfce year were set by 22 stocks and new lows by 11 stocks. Volume subsided to 2,270,000 shares from 3,240,000	yesterday. It was the dullest trading session since June 19 when 2,260,000 shares changed hands. The market opened mixed and veered a little from that pattern. Some leading issues perked up enough in