Evening star., 1915-12-10
NEW YORK STOCK LIST
CONTINUES VERY SLOW
Trading Largely Confined to Special
ties, With Market Still Lacking
Definite Trend.
Price Changes Fractional-Anglo
French Bonds Show Weakness.
Features Of the Day.

NEW YORK, December 10.-There
was neither activity nor definite trend
to the morning market. although In the
industrials advances were more gen.
eral than declines, but even with this
trend the irregularity noticed in yes
terday's action was again present. 1t
was more or less of traders market,
and the spectators of a month to six
weeks ago were not among the oper-
ators.
Frequent fluctuations, great price ir-
regularities and unsteadiness are not
to the liking of the margin trader. and
under the circumstances it is not to be
wondered at that the trade has devel-
oped into a room traders market.
Some of the close observers of con-
ditions were rather inclined to give the
market credit for more strength than
on any previous day of the week. Peace
rumors are not given any credence, but
the feeling is that foreign nations are
better prepared to care for their own
needs in the ammunition line and that
further orders for American producers
will be materially restricted, although
the orders now on the books of manu-
facturers are long enough to keep the
wheels of industry at high speed for
can preparedness. as yet an indefinite
term. may keep the factories busy long
after Europe has ceased to be buyer.
Trading Confined to Favorites.
The trading was largely confined to
the old speculative favorites-Stude-
baker, Baldwin. Crucible and Steel
common. The street has come to the
conclusion that the latter is the real
market leader of the present. and that
as it goes. SO will the entire market
go.
Rails were very generally neglected.
nor did they respond to betterment
elsewhere throughout the list. but bare
ly held their own on occasional sales.
Obscure mining shares attracted
some attention. Batopilis Mining and
tion. Light & Myers 4 points. Inter-
national Nickel 31a and Texas Oil with
~ points led the advances.
During the morning hours Anglo
French bonds were quite active, slow
ing down after the noon hour. Sales
declined for future delivery to s4&,
the new low, while regular delivery
sold at s71k and s7S, near the syndi-
cate price. Bonds generally were
less pressure from foreign liquidation.
Fractional Gains Follow Opening.
Immediately following the opening
fractional gains were made in the list
prominent in trading, followed by a
weak spell. when gains were very gen.
sustained, then the market rallied
again. and. entering the noon hour,
appeared to hold steadily.
however. and many stocks showed but
rarely on the ticker.
Fractional gains were made in Ana
conda, Can, Goodrich. Maxwell Motors,
Distillers' and many other shares. rare
ly exceeding u point.
Baldwin Locomotive was high at
115A and dropped back to 114h. Cru
chile Steel gained point. Studebaker
was a point higher early, but lost it
and partially regained the point later
on. ~
Steel common was h higher at the
top. but receded to Thursdays closing
price-s6k.
Weak at Close.
The untitled tonnage statement Of
the United States Steel Corporation for
the month Of November showed orders
for 7,1ss,489 tons of steel products on
the books of the corporation, an in
crease of 1.024.037 tons. The corpora
ton is said to have booked large or
ders for South America and that a.
large proportion of untitled orders are
for European account.
Steel rose on this showing, but later
yielded on heavy selling.
The entire market turned weak late
in the second hour of the afternoon and
again just before the close of the ses-
sion There was little support in evi-
dence. and the bears were pressing for
advantage.
The announcement that the allies
were getting out of Serbia probably
had some sentimental effect.
Most of the trading was In the old :.
time war specialtfes and Steel COM
mon.
Net losses of a point were more or less
numerous, while many fractional de-
clines were shown.