Market Shows Gains: Exchanges Report Short Interest Off
NEW YORK, May 20ÛÓLate-afternoon action failed to erase the stock marketÛªs early-morning advances today and prices closed slightly higher in listless trading.</br></br>Advancing Big Board issues, which earlier led losers by a margin of more than seven-to-four, finished ahead 739 to 618 with the Dow Jones average of 30 industrial stocks gaining 3.37 points to 923.41. Earlier in the day, the Dow was up more than 6 points but fell when buying enthusiasm waned as the session progressed.</br></br>Analysts said the upturn was an extension of WednesdayÛªs modest rally, when investors began showing interest in some of the more heavily oversold issues. The Dow average had fallen some 17 points Monday and Tuesday.</br></br>Investor morale also received something of a boost, analysts continued, from Federal Reserve Board Chairman Arthur F. BurnsÛª statement that the United States would not raise interest rates at home to help ease the international monetary situation.</br></br>Volume on the New York Stock Exchange totaled 13.34 million shares, up from 11.74 million on Wednesday.