Arizona republican., 1920-11-20
Market News

NEW YORK, Nov. 19-Hopes of better conditions in the stock market today were soon dissipated, the re- action of the past three weeks mak- ing additional headway after an initial period of comparative steadiness. Sales amounted to 1,500,00 shares, the largest turnover, with one or two ex- captions, so far this year.
 More than 100 industrial and special Issues were at lowest quotations for the year. United States steel added another fraction to it's minimum for three years and Bethlehem steel was lower than at any time since 1915. In general, today's reversal cancelled all gains for the last two years.
 SteeIs were the weakest issues, Crucible breaking 10 points, and re- gaining 115 with a net loss of 3A for Bethlehem. The decision of the Uni ted States Steel Corporation to main tain present prices as a measure of stability was without influence and l the retrograde movement in that in dustry found further expression in the | curtailment of the Midvale company s working force.
 Equipments. followed the course of steels and oils and motors also were weak with food, tobacco and chemi- cal shares. Mexican petroleum lost 515; Royal Dutch 212; Baldwin PA Studebaker< S1s; American Sugar and Industrial Alcohol 91a each, and Corn Products 3 points. Shippings weakest feature of the preceding ses- sion, made feeble recoveries, but in vestment rails. notably Reading and Northern Pacific reacted at the fever. ish end.
 On the surface. no new clements en. tered into the general situation. whicl was characterized by further disturb ances in cotton, grain and other lead
 ing staples. Conservative interests deprecated the aggressive attitude o shorts. but that faction was increas
 ingly prominent in the further shrink age of values.
 Bonds went the way of stocks, al
 though losses were relatively light, few Liberty issues closing at actua gains. Total sales, par value, aggre
 gated $13,875,000. Old United State
 bonds were unchanged on call. Duns tomorrow will say: "Certai
 changes for the better have appeare in business. The improvement is sligh and none at all is visible in variou
 quarters but some of the indication are more favorable than in recen
 weeks. Sentiment among some inter
 ests has strengthened, even withou
 appreciable gain in activity and tn
 encouraging features in the outloo
 are being rather more freely stresse,
 Demand for seasonable goods ha
 moderately increased and offerings ,
 merchandise at lower prices seem i De meeting with a somewhat broadt response. At the best, however, tI
 buying is still conservative and rt
 slr3eted and curtailment of produt J tion through lack of new orders hs 4 not yet ceased = |, s36. v'''''''V n CHICAGO. Nov.19-Al deliveries n wheat corn and oats fell today to u
 lowest prices yet this season. Gene n al free selling which forced down va Il ues was based largely on the fact tn tne movement of the big new IS 1T corn crop was due. Bears assert,
 tnat there was no sufficient power e slght to stem the pressure whi e would result Opening wheat pric IS which varied from F to 2Sc low, = With December S1.7S to SI.7e a, n March $1.67 to $16S, were followed ie a slight rally and then by heavy dow x ward plunges.
 sr Llquidation by holders was plain
 evident in the corn market. Aft m opening 1s to Ac lower, including n ot cember at 6s4 to 69%, the market r B. covered trifle. and then suffered r. decided setback. eA
 Oats yielded to the bearisb ,,f g enee of corn, starting unchangad > e Ac off, May 5O% to 5oH SCOT j. den descent. :" 'u a LumDling prices of grain and ho Id pulled down provisions.