, 1923-01-08

prices in todAy's stock market ueing
the unsettled foreign political and
economic situation as an excuse but
thslr offerings were well absorbed
and the general Lat was inclined TO
move upward an aggressive pool op-
srations and buying Of special in
dustriai stocks for individual reasons.
sAies Appropriated 72S.0oo shares.
NEW YORK, Jan. a.-Prtess con-
tiuuSd % sag at the opening Of to-
days stock market on a resumption
of Saturdays short selling and profit
taking. Motors, oil and copper shares
were among the first to yield. Stu
debaker and Sears Rosbuck each
dropped a point and large fractional
loases were recorded by Central
Leather, Royal Dutch. Pan-American
and Tobacco Products "a"
Speculative selling spread yer a
much broader list before the end of
the first hour. CrucIhle broke az
points and Losses OF l TO IL took
place in American Locomotive, Bald
win, Allla Chambers. Chandler, Pan.
American "a" and "B," California
Petroleum and Coca Cola Larg.
fractional rsceEsions were scored By
Union Pacific, Pacific Gas, Punta
Alssrs Sugar, Germ Products, United
states Alcohol and Delaware anf
Hudson, the Losses ranging from u
to nearly one point. Foreign ex
changes opened easier. demand ster
Ling selling around 464k and Frenci
francs at s.s5 cents. off i've points
German marks dropped to LOS cents
a hundsed. another new low record
~istribution OF supporting order
and a renewal of pool operations II
recAnt favorites turned the courSe OF
prices upward after the early selling
had been absorbed. The rebound can
called or substantially reduced thu
carly losses and pushed a number O.
the leaders vel Above Saturday,
mai prices. Independent steels rallied
br1ukly, CrucIble w1ping out OF if
early loss, and Bethlehern b" Re
public and Gulf States rising a poin
or more above last weeks final fig
uras. Marked strength also was not
ed In Manhattan Electrical Supply
uu x; steel and Tube preferred "
az; and California Petroleum, chesn
psake and Ohio, Pan-American. As
uoeiated Dry Goods. WHY'S verlan
preferred. strombeIs carburetor
wells Fargo, North American Publ
Service Of New Jersey and cont'
entail and American Can all up ! I
z podnts. Professional selling mac
III aUpGrancs again before mid-da
and quoted values were shaded In {
number of active shares. CAL none:
opened at AZ per cent
India&ons that realizing sale
were hoinE well taken. and the per
uishsnt rins In stocks In which pools
are rspueed to b operating. caused
tho shorts TO manifest some uneasi-
meas and the. buying was respon
nfhie for s>other upward tur In h
market during the carly afternoon
Tho 4smAnd for the recognized lead
ars was light but nevertheless Bald
win climbed to lstA and Studebaker
70 lis. American Telephone and Teie
graph were supplied freely n lost
: mint while woo1worth was marked
up az. California Petroleum and
Gonsral Baking 81. wells Fhrgo Elk
pssss and Steel and Tube preferred 3
and General American Tank. N%aoh
a Cloak and Suit Eastman KODAK
and General Cigar two points zach.
Tho closing IA firm. Shares In
which special Developments arr
pSudtng were actively bought IN the
finai dealings. strength OF Chile COP
psr rsv4ving ma Of its merger
With the Anaconda company. Other
inAustriAlS also held up well. some OF
he outstanding strong spots being
Atlantic Refining. General Baking
EASTMAN Kodak and Cruoibis Steel
preferred. all up SO TO . points