Evening star., 1915-12-08
WALL STREET MARKET
IS AGAIN UNSETTLED
Trading Generally Restricted-Some
Of the Important Influences
Affecting Conditions.
General Motors and Studebaker
Strong Spots in List Show
ing Many Losses.

NEW YORK, December S-The man
ner in which the market turned from
strength to weakness in the last few
minutes of yesterdays session was very
disappointing to those who looked for
a higher market.
1t was apparently due to the con-
tinued distribution of Steel common on
every strong spot and the efforts of
professional bears to make capital out
of the tension with Germany in the dip
lomatic situation of today.
Wall street found nothing but what
1t expected in the Presidents message
and that was without direct effect
Just where the great blocks of Steel
common are coming from is a matter
of considerable wonder on the street.
Whether it is protit-taking on large
blocks of stock purchased on the way
up from 3S, foreign selling or dumping
of the stock to check rising trend in
the market, it is mystery. One
thing remains certain, however, and
that is Steel has been the club to check
betterments for some weeks and it
comes out in blocks.
1t is reported that the Anglo French
bond syndicate will have to distribute
10 among members of the syndicate,
and that new low prices will proba bly,
be established, which is certainly not
looked upon as bull influence.
Selling Movement Resumed.
Immediately on the opening this
morning the selling movement was re-
sumed and the general list. with few
exceptions. was. weak and lower. The
active stocks sold off after the opening,
came back partially. eased off again
and scored fairly good recoperies III, the
last hour of the morning.
Big blocks of Steel common came out
during the morning, the aggregate be-
1ngUheavier than for all other leaders
combined
The price of Anglo French 5s declined
to 96. new low record and a fraction
under the syndicate price.
throughout the noon hour the market
slowed down materially, but the price
changes We're not especially prominent.
nile not sharing in the advancing
trend with the industrials, the rails
participated in the weakness, but
showed fairly good recoveries SO that
small fractions for net losses was the
rule.
Most of the trading was in the in
dustrials. Steel common opened S6k,
rose to S67s. declined to s6Ia and re-
covered to S6A
Baldwin Locomotive rose to 117k be-
fore dropping to 114A, loss of nearly
points net, then recovered to 1I6a
General Motors Makes Big Gain.
Studebaker and other motor shares
were very firm. the former scoring an
advance from the low at 15S to 1854, or
nearly points net .-..+..-.-.a
General Motors made the big gain
of the day. selling to $40 from close
at SIS Tuesday. Maxwell barely held
it's own. Wfllys-Overland was strong.
Many of the minor industrials show
ed more or less important declines
Industrial Alcohol, points Beet
Sugar. Is; Car Foundry, a point: Lo-
comotive. y; Can, 9s and Lacka-
wanna Steel, u. Oil shares were
changes were sustained in copper,
smelling and metal shares.
Crucible Steel was Ia off, but re-
covered all but one-half point of its
loss.
In the rails Atchison lost q: Balti-
more and Ohio, a point. E,ries, u
Great Northern. point; Illinois Cen
rral. q. while the other rails recov-
cred most of their earlier losses
General Motors, Studebaker, Bethle-
hem Steel and Steel common were the
leaders in strength. the latter selling
at SIN in the closing hour, of the ses-
sion
The entire market stiffened and pre-
sented a steadier. appearance in the
final hour.