Evening star. [volume] (Washington, D.C.) 1854-1972, 1917-12-09
)MARET EXPERIENCES
ONE Of SMALLEST DAYS
Dealinss Barely Exceed 100000
!, Shares, Many Stocks Being
Omitted From List.
By lie Associated Press.


NEW YORK. December s.-The yer.
market may be gagged from the fac
that dealings barely exceeded 10000
shares, quite the smallest total of an!
day of the year.
Many active stocks were entirel,
omitted from the trading list. opera
tions showing extraordinary contrac
, tion. The few noteworthy pric'
changes represented little else thar
the usual weekly settlement of out
standing contracts.
Rails tended mostly lower, with ex
\ IRENE recessions of point in some o.
the Pacifics and grangers. Industrial'
were more variable, though final quo
cessions. Brooklyn Rapid Transits de-
cline of "a points to the new low o,
3sx furnished one of the days Incl.
dents; likewise American Sugars ad
Exceeding in imPortance-and scope
all other events of the week in the
stock market were the Recommendation.
Of the interstate commerce commission
dealing with the transportation line:
Of the country.
Differ as to Adjustment.
equitable adjustment of this intricate
problem, but it was generally conceded
that either unification or absolute
federal control would place the roads
in better position than they now
occupy.
The Presidents ringing address to Con.
Hress. declaration OF war against Austria
Hungary, another acute crisis on the Ital-
ian front and a fresh Teutonic offensive
$50,
ing Developments that kept the market in
. state of confusion.
Bonds reflected the long-continued stale
mate in the investment situation. Inter
nationals were affected in greater degree
than others. some of the French issues
declining to lowest quotations since their
dotation in this market
Threatened reduction in iron and steel
prices by government action just as the
industry Is recovering from the effect of
previous regulation is causing an I'M
settled feeling in the trade. partially. ex-
pressed in suspension of efforts to place
important commercial orders with the
mills and furnaces. There is a feeling in
the trade that If the sentiment of the
Federal Trade Commission sways the gov
eminent to make additional radical
changes now the effect will be disas-
trous; consequently. efforts to further
reduce selling prices while productive
costs are rising will be vigorously opposed
by representatives of the iron and steel
government officials by invitation Of the
war industries board.
Due to Government Action.
The curtailment of the coke supply.
essential to iron and steel plant opera
lions. is believed to be due as much to
the governments action in at first es-
tablishing what the trade generally
considers as a price too low for coal
as to the inadequate transportation
service: similar fixing of iron and steel
prices. it is claimed, would hamper the
government as much as the industry
and cut on a rich source of government
revenue. Alien labor at the steel works
now that war has been declared against
Austria, also is a serious problem which
must be solved.
A prominent feature Of the steel
trade Is the vigorous distribution OF
government war orders. Allotments to
mills range from 50, 900 to 10000 tons
r day. These are mainly for shell
rounds and forgings and for ship steel,
but the buying Of sheets also is heavy.
many miscellaneous orders being
placed. The government is making a
special drive to Increase the output of
heavy forgings and of alloy steel Many
millions of dollars are being expended
By the large steel companies, and also
by the government to Increase gun
forging capacity.