Evening star., 1924-10-12
SPECIAL D STOCKS
/ IN SHARP BREAKS
1------------------A-.
IndustriaIs Get Better Sup
+ port in Very Thin Sat-
| =, urday Market.
& "
BANK NOTE OFF II POINTS
!
Kresge Tumbles 10 on One Sale.
| Trading in Rails Slug
gish.
BANK NOTE OFF11 POINTS
Ry the Associated Press.

Ry the Associated Press.
NEW YORK. October l1.-Stock
prices again yielded to selling pres
sure in today's brief session Of the
market. While better support was
offered for the standard industrials.
some sharp breaks took place in the
speCialties for which there is a thin
market. Fridays reaction having
carried the general average of prices
below its previous resistance point.
several commission houses urged
their customers to take profits, which
accounted for the heavy selling in
the first hour.
Recent Selling Is Mystery.
Recent selling in the face OF
favorable trade news has been some
what of "A mystery to Wall street
traders who were inclined to at
tribute it to political uncertainties.
This seems to be borne out by. the
vestors and spectators to enter the
market until the election results can
be definitely forecast.
United States Steel common closed
unchanged at 1O7, after, dropping to
1o6%: Baldwin closed fractionally
lower at 1l0A and American Can and
Studeba showed small fractional
gains Motors were in fairly good
demand at the close WillyS-Over-
land preferred advancing 1ia points.
Maxwell 4 moving up point ana
several others rallying briskly from
their previous low prices.
Sinclair OIL Turns Weak.
Sinclair Consolidated Oil preferred
turned weak in the last hour, drop
ping points to new low record at
G6 American Bank Note and ). ).
Kresge dropped II and 10 points. re-
spectively. each on one sale. Other
weak spots included the Commercial
Solvents issues, Standard Milling.
United Fruit and American Zinc pre-
1erred off to 4 points.
General Electric, which has dropped
about 40 points in the last two
months, developed better support IN
tedays session. rallying from its low
Of 24324 to 246]s. and then easing to
"45E, where it was up 2s on the
day Moderate strength also was
shown by Advance Rumley. National
Biscuit. National Dairy Products and
Consolidated Gas of Baltimore up I
to 2 points.
Trading sluggish in Rails.
Trading in rails was rather slug
gish. but the net changes were large
~ of a fractional character. Nickel
Ifate common was hammered down
te lO4L2, but rallied later to lO6 Is
for d net loss of only one-eighth on
the day. Foreign exchanges eased
slightly with trading quiet. Proht-
taking in sterling sent demand bills
down nearly half a cent to below
si.49, while French francs again yield
ed below $50 cents. Japanese change
which has been heavy most of the
week, developed d firmer tone.
Crude rubber crossed 80 cents to-
day, spot smoked sheets advancing
TO 3Ok cents a pound, the hlghes'
level since early In 1928. The pres
ent price compares with the low ieVe!
of between II and Is cents pound In
May.
Wall street Features.
freight Ioadings of the Chicago
Burlington and Quincy jumped to
47,2l3 cars in the first seven days OF
October against 37,497 in the same
neriod of August and 4l,35o a year
ago.
The largest monthly output or the
wear, except one, was the record OF
August in the copper industry. This
applied to domestic supplies as meas
ured by mine and smelter production
which totaled in that period 1880
600 pounds. 1t was but slightly be-
hind the January record of 33,35b,00V
pounds.
AN securities and commodity mar
llets in New York and Chicago Will
lie closed on Monday in observance OF
Columbus day
New s2ooe.Ooo stock Issue.
"A new issue of s2.0oe.00O New York
Central Electric Corporation per
cent cumulative preferred stock will
q
crued dividend to yield IT'S per cent.
On completion of the financing the
company will furnish electric power
and light service in Auburn. Corning,
Hornell and more than 40 other up
state communities. Net earnings. for
the year ended July 81 were S1,211,-
434, with a balance of s617,661.