Evening star., 1923-12-01
MARKET VERY ACTIVE.
Securities Long Quiet Take on
Sudden Life.
BY STUART p. WEST.
Rn.c;s, D,snatch 10 The star.

Special Dispatch to The star
NEW YORK, December 1.-Today's
short session in the stock market
nrovided a good deal more interest
than might have been expected.
One of the features was the
strength of stocks. which were most
unpopular In the market OF six weeks
ago. and in which there was still sup
posed TO be a remnant of an old short
interest. In this category were
American WOODEN. General Asphalt
and Famous Players. The sudden
driving in Of the shorts was set
down as the reason for the jump in
interests at work In United States
Cast Iron Pipe sd,na continued ,te,r TO snow NOV
cialty. Despite the favorable earn
Ings position Of the company. how
ever. the advance is looked upon as
TOO precipitate. Iron products was
bought on the contention that pay
ing dividends at the rate of per
cent. and with at least an equally
favorable outlook. II was selling. out
of line with Cast Iron Pipe. There
was asharp run-up in Computing
Tabulating- Recording. for no other
reason than 1t had been somewhat
neglected in the recent markets.
Seaboard Stock Higher.
There were two conspicuous excep-
tions TO. the general inaction In the
rose in anticipation of resumption OF
interest payments, and the Wabashes.
the preferred A making new high for
the year above .S5h. on the remarkable
Some attention was paid to the
monthly bank reviews. which took a
favorable view of the business outlook.
The week end summaries by the mer,
IL leo y1-or q
favorably, although, as usual, they
were non -committal.
An increase was noted again in retail
trade. but in certain basic. lines there
was tho customary slackening prepara-
tory TO inventory taking.
sterling Makes Gain.
Sterling recovered slightly after yes
ferday's sharp decline. but French
francs were unchanged. In neither
market WIS there any show OF enthu-
siasm over the latest proposal of two
investigating bodies selected by the
reparations committee to go into Ger
f1sny. The English have agreed to the
proposal. in order TO preserve peace
will not be until after then that the
cards will again be laid on the table.
American Can had run-up in an
ticipation OF favorable dividend ac
uled for December 20, when the regu-
lar distribution and an extra of 81
on thS common are looked for. To-
days movement suggested operations
Of outside speculative interests at
tempting to steal march on the
so-called insiders in advance OF any
natural discounting movement to the
stock.
Mack Trucks was active again at
higher prices In expectation Of dec
laratlon by the directors next week
of an extra in addition to the regular
s1.2o quarterly dividend. However.
the more conservative view still fails
to lean that way. although Mack's
current earnings are running ahead
of any other last quarter In the COM
panys history and the seasonal slack
has not materialized to the extent
predicted.
Market Closes Steady.
The market closed very strong at
the high prices Of the day. American
Can at LOS was within a point of
its high record. Steel common at
n5L, SLOWING for the dividend just
deducted, was its high for the pres
7ent movement. Steady buying in the
. oil shares was still in progress at
the end.