Arizona republican., 1920-12-04
News
rnennhlfoan A. P. Leased Wire1

TRepubiican A. F. Leased WireJ
 NEW YORK, Dec. 3.-Save for a pronounced contraction of business. both as to volume and variety of is sues traded in dealings in the stock market today differed in no lmpor- tant essentials from those of recent irregular sessions.
 Interest continued 10 center in Southern Pacific, the cratic course of that issue suggesting an increasing oi- vergence of opinion, in speculative circles at least regarding the poten- tiaI benefits to eb derived from the company's plan of segregation.
 General advices and developments ofs the day were conflicting in their rela- 1. tions to market values. Passing of the dividends on two of the low priced copper shares occasioned only mild disturbance in that group, having eVl- dently been discounted.
 Further curtailment or indefinite suspension of operations in many branches of industry, especially steel, rubber and textiles, merely confirmed recognized conditions of the past few months as set forth by commercial and financial authorities
 Mexican oils and the better grade of rails, excepting Southern Pacific which continued heavy, were the chief ele- ments of the strength and activity, Mexican Petroleum making a net gain of five points and Reading almost two points. Shippings. motors and sew eral of the equipments and food and leather specialties are under renewed pressure. Sales amounted to 735,o0o shares.
 Money on call and time was nota- bly, unchanged. but hopes of early ease were dashed by the statement of the secretary of the treasury pointing to l the enormous demands of the govern ment within the next few weeks. l Trading in foreign exchange was nom | inal and moderately reactionary, the 1 Scandinavian centers proving an ex- 1 ception.
 Railroad and utility bonds VA l heavy. especially local fractions |. | the Liberty group showed slight ga4hsS 1 and losses, with no feature to inter nationals. Total sales, par value. az
 gregated s14,S05, 900. old United
 States 2s and 4s lost F e on call.
 CHICAGO. Dec. 3-Evidence of 8 pause in export demand tended today to bring about setbacks in the price of wheat. It was pointed out that foreign governments have pursued the
 policy of buying wheat only when prices were depressed. Bulls, how ever, contended that lower prices were
 not in conformity with the amount of
 export business already done or with
 the amount of milling demand yet to ] come. Opening prices, which varied
 from the same as yesterdays finish to lAe lower with December $1.685z to S1.69, and March SI.64 to s1.64z were
 followed by a decided rally, but then by material decline all around
 Corn sagged with wheat. After opening unchanged to 11sc lower, in cluding May at 75A to 76c, the market l recovered somewhat and soon became weak for all deliveries.
 Oats were governed by the action of other cereals starting unchanged to 74c higher May 51 to 51Ac, but then undergoing a general downturn.
 Lower quotations on hogs, together with weakness of grain. carried pro- : visions downgrade.
 NEW YORK, Dec. 3-Dun's tonaor. ' row will say: Signs of betterment in 7 business and sentiment, if slow to an. pear are rather more distinct in certain quarters. The retail movement. thougt : lacking the desired breadth. is accel.
 erated as the holidays draw near and
 some primary markets are recoverffil
 a little from lethargy.
 The whole situation is uneven axc
 uncertain. as is natural it. a time o d readjustment, and the general polio, fl Is one of deferring important action un Q til conditions become more stable. AT - ter the turn of the year, when result. = of the inventorying and the Chrfstna, e trade shall have been made known. tb, n future business outlook may seem les, : obscure"
 Weekly bank cIearfngs. ss,1ss.es4. .26s }. BOSTON, Dec. 3-The Commercia ' Bulletin tomorrow will say: "Rusines : in the wool markets of the country ha continued within narrow limits durfn. : the past week and prices are irregular :. although it is believed a larger basi = IS being approached. Retail price cut
 are stimulating buying of ciothins = and some business is being passed ol }: to the mills. Interest is keen in th ' possibility of a wool embargo and tariff
 legislation at the coming short session - of congress-
 Secured basis: Texas fine. 12 months z % Soc; fine months, 65c. Territory; Fine staple choice. she :, S1.00; half-b blood combing, s06Ds5e. ss = blood combing, soc; Is blood combine
 soc; fine clothing. roc; fine mediun i, clothing, 55060c
 ,t Pulled: Delaine, S5c: A. 75a soc. 2 superiors, SO9 Soc; mohairs. best comb
 ing 4V9 42e, best carding 3S aS5c.  ' LIVESTOCK