Evening star. [volume] (Washington, D.C.) 1854-1972, 1923-11-16
WEAKNESS GROWS
IN STOCK MARKET
News From Abroad Brings
About Turn-FeeIing of Un-
certainty Hats Buying.
BY STUART p. WEST.

Special Dispatch to The Star
NEW YORK, November 16.-The
foreign news and the weakness III
the exchanges and foreign govern
ment bonds were the main considera-
lions in the stock market today.
For time the price movement ap-
peared Indifferent. During the hrst
hour or so an appearance of steadl-
ness was preserved and there were
even a few advances among lndl-
vidual stocks. But as the day went
on offerings becaCe heavier and
were not so well absorbed. 1t was
evident tr.at uncertainty of what
was going to happen abroad had
taken the edge off the buying move
ment and had made dealers and IN
vestors less disposed to come in.
Dawson Chemical Feature.
Dawson Chemical was the feature
early in the session, running up some
four points. This was in Response I. .,
the announcement that CONTRACT
had been signed with Vacuum Oh Iol
the use of the silicia-jel patent. Inc
Royal Dutch was the first of the big
oil concerns to adopt TINS process
Mexican Petroleum has been expert
menting with silicia-jel. Davidson
Chemical is the owner of 81
per cent OF SiliCia-Jel Corporation
stock. Dawson Chemical stock has
been regarded by those well informed
as essentially a long-range PROPOSE
ton and the big buyers are not m
terested in current fluctuations
Hence the floating supply remaln rs
small and il is easy for speculate
on the outside 20 bid the stock up
American WOODEN Breaks.
When the downward turn in the
market set in toward midday II
onic6Iy assumed a general character
other stocks besides Dawson Chem
zeal. which had been strong at the
start-such as Reading. Maxwell MO-
tors A and MARYLAND On-went with
the rest. There was special weak
ness again in American Woolen. rms
stock has become about the most Nui-
nerable on the list.
The steelS. equipments, motors ana
rails all yielded about equally TO the
selling movement. Although there
was further proof that the feeling
in the copper trade has changed and
has become more confident of the
future, and although TIE september
quarter statements of the porphyry
companies have far exceeded eXpec-
tatinns, the market for the copper
stocks was unresponsive
Storage Battery Active.
Recent buying of Electric Storage
Battery has been in anticipation o.
the declaration of an extra 81 diVi'
dend. Continued good reports of this
company's earnings seem to indicate
that an extra would be fully war
ranted. Net income this year WI
approximate Sl2 a share. and the
company has plenty of cash.
Nevada Consolidated Copper re
ported net income for the third quar-
ter TODAY The statement FOLLOWED
tho publication earlier in the week
of the results of Utah Copper ant
Ray Consolidated. both of which
made a favorable showing. Navada':
total income for the three month:
ended September 80 was s650,754. OF
80 cents a share, compared with
deficit of s124,27s in the correspond
ing period of 1922. Total income fol
the nine months was $2,15S,000.
New York Gamers Bought.
The prospect of an initial dividend
on New York Gamers common ha
been the chief incentive for the re
cent buying in this stock. There ar
approximately 100000 shares of NJ
par common outstanding. in add
ton to two preferred issues. A divi
dend meeting will be held soon ant
II is expected that the common viii
go on at least 50 annual basis.
In 1922 the combined sales of thu
New York Gamers and the Snyder
company, WHICH the loriIel o"Hs
produced more than $3.50 a share. l
is estimated that the net for 1928 vii
be fully as good as If not better thar
that of the previous year.
The declaration of the quarterly
1s4 per cent preferred dividend OF
Central Mining and Smelling prefer
red, which had been matter of doub
in the minds of some people, attracted
further attention to this issue, which
is selling very low for per cen
dividend-payer.
Madison for the fiscal year ended
October 81 last is expected to repor
a net income applicable to the stock
equal to approximately IS per share
MARKET CLOSES HEAVY.