Evening star. [volume] (Washington, D.C.) 1854-1972, 1916-12-18
.LET-UP IN TRADING,
WITH PRICES EASIER

NEW YORK December la.-With the
Immediate opening the market dis
played considerable strength, with adj
vances extending to one and two points
and in some cases even more, but the con-
end of the first hour.
Nervous action followed. many traders
with small profits undertook to cash
In. while the bear element, awake to
the signs of uneasiaess, jumped on va
rious securities and especially on the
war specialties, with considerable ar
dor.
The result was weakness and declines
varying from point to points, and
in the case of Industrial Alcohol, which
was the weak sister, points. or from
116 to 1O7.
During the second and third hours of
the session the market would recover
ana then go back in waves of selling.
but all of the time there was an I'M
dertone of weakness and showing
up OF the trading that indicates the
beginning of the holiday dullness.
Motors Especially Weak.
The motor shares were especially
weak, despite the reports of the trade
and efforts to boom business. The fact
that Immediate delivery may be made
on nearly all makes, where a year ago
the orders We're three to six months
ahead of production, tells a tale that
cannot be denied.
Studebaker at the low broke a.:
Maxwell, L, and Willys-Overland, a
point or more. From the low there
was some recovery, but the stocks were
soft at the advance.
nf he nf he S{1
houses was as erratic the market,
different floor men giving their views
and with wide variance in opinions.
While the situation has been greatly
relieved by the liquidation of the last
month. extreme caution is advised:
moreover, the wiping out of many
traders in the liquidation has reduced
TO greater or lesser extent the buying
power of the market.
Action in Steel.
Steel common opened at HAS, Sat
urday's closing: broke to 112A and
allied to 113as. The transactions were
quite heavy.
Mexican Petroleum was weak early
for loss of nearly points. then came
back with full recovery and net gain
of a point. selling to 1907.
Mercantile Marine preferred lost 2
points, Inspiration Copper point, CRU
chile Steel 21a. with u recovery; Bald
win Locomotive was weak early, but
recovered all but " point of its loss;
Locomotive acted much the same way.
The low-priced rails were in favor,
Western Maryland advancing 2k points,
Southern Railway preferred a point,
Southern Railway common held its
own, Illinois Central gained a point,
while Baltimore and Ohio was frac-
ton higher, at one time "a OF
point.
Reading and Union Pacific were
higher early, but lost about II point
net.
Money AZ Per Cent.
Call rates dropped TO II per cent in
the last hour of the session. and copper
stocks started to higher levels. while
the Iow-priced rails made new highs.
Each heaviness gave way to another
rally and dullness.
on the downturn business was better
than on the upgrade in prices.
Sales to 2 O'Clock, S43, 600 Shares.
The market continued slow. sales to 2
o'clock being $4,000 shares. with COM
-a-tively little speeding up in the final
hour.
The fe atures of the last hour were a
7-point advance in Texas Oil. a recov-
n Stcc' 70 1879. in Industrial AL
cohoI to lI2, full recovery in Central
Leather. Baldwin Locomotive. Lacka-
wanna Steel and sharp advance in
the coppers generally.
e44e Iow-pliced rails also spurted a
little, for fractional recoveries, but
without much actual advance.