Evening star., 1923-01-09
PRICES HOlDE|RM;;
LATE. TRADING DULL
Many individuals Make Good
Gains-Paris Causes
Waiting Attitude.
-. - .
ny STUART p. WEST.

Special Dispatch to The star.
NEW YORK, January 9.-It was
another waiting market on the New
York Stock ExcfTanG &c today-that is'
it was a market which was waiting
for further developments in the Eu-
ropean situation. =. - Z
Speculative interests working for
the rise maintained q quiet conf
denoe. but were reluctant to ,attenpt
any fresh movements, In conse.
quence the market merely drifted
back and forth in a comparatively
narrow range throughout much OF
the session.
Among individual stocks there were
few features Chile Copper made a
new high, and so did Cosden. The lat
ter was Influenced by talk that the
preferred stock Is TO be retired. 1eav-
ing the entire earnings and assets of
the company for the common. vf I
Equipments Hold well.
Prices of equipment stocks were
well maintained and thisiwas the case
also in the steels. On the other hand.
Allied Chemical was sold on the idea
that the recent disappointing turn In
the company's earnings would inter-
fere with. ths iflrreAsetrf sdfTid ends.
upon which the late advance had la
part been baised. s,lS.s- = ~ = :; u
Pierce Arrow stocks moved ahead
on the news that the company has
practically completed arrangements
for some 1inaucing which would re-
tire bank loans now approXimattng
$S.000.00 1T was reported that the
new securities will consist Of 81. .00b. a
600 first mortgage per cont hon1s
and S4,OO0.000 per cent jehehtGre
bonds. Banking interests In the
Pierce Arrow Company are saiG 10 he
cheerful about the OUTLOOK of the
company for 1898 and are,lOolling for
ward to earnings in the neiEhbOrhood
of $2,000,000. = - :
steel and Tube Jumps.
Full light was thrown today upon
the recent sharp advance in the pre-
ferred stock of the steel and Tube
Company OF America by the state
ment Of the president of the Youngs-
town, Sheet and Tube Company, which
has bought the assets of the former
company. Within1ra fortnight Steel
and Tube preferred has risen from
below So to around par. This rise
was In anticipation of the deal with
Youngstown. although knowledge OF
the impending purchase was confined
to comparatively few people In the
street.
Weakness in Brooklyn Rapid
Transit issues was attributed to the
report. which gained wide ciTcula-
ton during the morning. that an as
sessment of at least $40, n share was
likely in an effort to pull the COM
panyt out of receivsrship. =
Cast Iron Pipe Higher.
Weakness in TranscentinsHtaf OIL
was. set down to the dissolution of a
pool which was active in the stock a
month ago. Also there were reports
that development work in the COM
pany's oil fields In South America was
not turning out as well as expected.
however. by the selling of this stock.
The Pierce Arrows were one of the
few features Of the very dull mark ct
of the last two hours. Cast Iron Pipe
was bid up on fresh adViess Of
favorable conditions in. the pipe trade,
vance in prices. Heavy pressure ooh-
tinued against Brooklyn Rapid Tran.
sit on the belief that the reorganiza-
ton plan had been pretty well per-
fected and that it would involve a fair
sized assessment on the stock.
Paris Moves Awaited.
The days results, both on and off
the stock exchange. disposed of ali
idea that Mondays display of steadi-
moss was due to hope OF. some eleY-
enth-hour change In French plans.
Had there been any thought that the
strong representations Of the limited
states would affect the French de-
termination regarding ths Ruhr cam
paigp, it was quickly dispelle.I by the
news today Yet the mark cts shove d
that they were fully prepared for the
contingency.
The next point of interest will be
how the German people take the seiz-
IRE OF more of their territory, wheth-
er there is or is not anything TO the
sensational predictions which men OF
Importance have recently made that
this Invasion would lead to another
uprising. This was one OF the main
things upon which the days markets
were waiting enliehtenmen;;Iz -,