Evening star., 1922-12-09
PRICES HOLD FIRM
|NST0CK MARKET
'Today's Short Session Sees
No Great Changes Zinc
Shares Pick Up.
BY STUART p. WEST.

Special Dispatch to TIE Star.
NEW YORK, December S.-Today'
stock market was mixture OF fresh
buying in some directions and pront-
taking in others. The result was
mixed series of price changes, with
no great amount OF change either
way. Prices went higher at the
opening. but fell back somewhat i'll
the last hour of trading.
II could not be said that outside
matters cut much figure in the Hari-
Gus movements Of the day. The
gathering of premiers at London TO
discuss German reparationS and in
terallied debts was regarded in finan-
oial circles rather hopefully In View
Of the reported notifications of the
French attitude. These certainly
make. it appear that the present con.
terence has much better chance OF
accomplishing something more than
any of its predecessors. Rut as an
influence in the market, these optl-
niistic anticipations were scarcely
noticeable.
Sterling exchange sold about .s4.S'
again today and the continental ex-
changes were steady.
Leaders In Early Trading.
In the advance during the first
were the motor shares. equipments
and sugars. Along with tn. motors
went the rubber and tire stocks. the
expectation here being that other
companies will follow the lead Of the
Kelly-Sprinsfeld and raise prices be-
fore the end of the year. A better
appreciation of the return to profit
able conditions in the sugar inuustry
was obviously back of the rise IN the
sugar stocks. all of which reached
the highest prices they have touched
in the last three months.
ZInc stocks made sone response TO
THE announcement, after the close OF
business on FRIDAY. that Butte and
Superior had returned to the dividend
l,sr. and Ma aronal Lead continued its
rise. expressing confidence i'll reports
Of a stock dividend.
Prices Drop at Close. .
Railway shares 4: II. little. ii, The
usual week end realizing sales. COM
ing in the last hour, took away most
of the early gains In the motors and
the equipment group The market
closed with varying net changes on
the daX. United Staies Steel common
was rather heavy. following publ.ca-
tion OF the monthly tonnage state
Inent showing a decrease OF 65.o4o
tons during November: This. how
ever. has no unfavorable Significance
Tor trade conditions. M thcr ! IL re-
fleets the speeding up OF production
.,nd shipments following the settlement
Of the railway strike. :;
Lima and Baldwin.
The strength in Lima Locomotive.
which carried il, back over u great
part of the ground lost in the recent
decline. was due to- reports OF u
merger with Baldwin Locomotive.
While there has been nothing official
regarding such combination, the
street is taking the report rather
SeIiously. Lima. in comparison with
the other locomotive Concsrns-Bald-
win and -Amerean-showed Jllst as
good earnings as its two competitors
Its capitalization is hni4ller and its
plant is smaller. but tts product is In
active demand now because OF its new
engine.
Copper Dividend lilnisd.
The statement made with the diYi-
dcnd declaration ty the. Butte and
superior directors said that the 80
cent dividend had been declared out
of earnings for the year and that the
situation in the zinc industry was
such that larger payments could be
expected next year. Butte Copper and
Zine was active and got above 8 on
heavy transactions. 1t was said today
that dividend on Butte Copper and
Zinc might be- expected within the
next ninety days. =