Evening star., 1923-09-04
STOCKS ARE WEAK
| IN FINAL TRADING
News From Abroad Partial
Cause of Many Heavy
Losses in Wall Street.
BY STUART p. WEST.

Special Dispatch to The star.
NEW YORK, September 4.-Aftei
an hour of moderate price fluctua-
tions mostly on the side of advance
the stock market today became heavy
and prices of many of the active
speculative issues fell from 1 point to
s points.
When the buying of the first hour
had run its course. there was a
sharp dip in prices. followed by
heaviness in the general list. uhltee
States Steel common broke through
80 as against its final price of 92@.
on Saturday. Other steels shares
were sold down and speculative lead
ers such as American Can, Baldwin
Locomotive and Studebaker got wei
under the closing level of the pre-
S.cr-s Eeek before prices steadled
Upturn IN Sugar Stocks.
Studebaker and the motors gener.
ally held their ground fairly well
while Mack Trucks. whose dividend
was increased from 81 TO Sc annually
was in demand. Dupont and General
Motors were bought mainly on divi-
dend talk.
The upturn in Punta Allegro Sugar
was the feature in its group. and ap-
peared to be discounting some sort OF
favorable dividend action at the meet
ing tomorrow. y dividend al the rate
of 50 to 81 per share has been men,
toned.
Railway stocks were comparatively
neglected As on Saturday the stocks
of anthracite coal-carrying roads
were little affected. Such issues as
Reading. the Fries and Delaware and
Hudson were offered down when the
selling in the induStriais was at its
height but there seemed to be nc
important selling. Most observers
were inclined toward the view that d
compromise settlement would be
reached.
Heayiness in Afternoon.
The markets today presented a fairly
firm front TO the news OF the terrific
Japanese disaster. the threatening sit
retion in southern Europe and the an
tlracite coal strike. Whether, how
ever, the full extent and signiticanc.
of the Japanese catastrophe has beer
fully realized and reflected is some
thing only the future can show.
The general heaviness which fol
lowed the morning session was aidet
to some extent by the belief that thu
August recovery had proceeded abou
as far as conditions seemed to jus
tify.
There was no evidence of liquida
tion. of securities by insurance com
panieS in anticipation of meeting
losses from the japanese disaster.
was announced that the American
fire insurance companies had protitet
by their lesson at the time of the Sal
Francisco fire and that their loSSe:
were merely nominal The extent o
the losses of the life underwater!
will depend on complete list of cas-
ualtieS.
$4,000 900 LOSS Feared.
A furry in the raw silk marke
here was forestalled by withdra W a.
OF all offerings of japanese silk or
this market. 1t is unlikely tha
trading will be resumed until the
extent of the losses in Japan are
definitely known. 1t is believed
however, that the loss of stocks il
Yokohama will reach $4,000. 900
How much of the autumn production
still is untouched is unknown here
The losses of raw silk, however ar,
counted on to produce a strong de
mard for artificial silk manufactured
in this country. The strength eX
hibited by Dupont stock in today
trading was attributed partly to thi
factor.