The Washington times., 1924-10-11
professionals.
ACTIVE ALL
WEEK
Baseball Series and Jewish
Holiday Cause Transactions
b pMindIs
By w. 5. COUSINS,
lntesnlloAal New seryios Nlnnelll

InteE 1tlonnl News e6rVic5 Ihnncfal
EdItGf.
NEW YORK oct. III. The hIsiily
professional character 81 The stock
market which has been IA evidence
since the middle 81 septe,nber, was
ln 10 way altered this wesx.
Movements 81 stock prices re-
corded little more than the activities
Of professional traders. The volume
Of transactions dwindled to mid
summer proportions iii some ~ the
sessions. Tor which d partin u
PLANTATION was found Ia the base
ball champ ionsJlip games and the
Yom Kippur holiday.
oils Heavy.
sharp but narrow fluctuations in
Industrial leaders. continued heavl-
ness ii the oil stocks. reactionary
movements ia motors, equipments.
independent steel shares, firmness
81 copper and sugar stocks. and the
almost complefe neglect u the rains,
were the main characteristics Of
duif ana desultOfy stock market, in
which public participation was.
negligible.
Bearish traders forced down the
prices Of hlgh-prlced Industrial
stocks IN the first part ~ tile week
n an effort TO dislodge the bulls
| from their position and induce sell
| ing 81 margined accounts With In
different success In this direction,
they turned their attentions else
where. attacking the 1notor and
specially stocks. 4a.
Favorable industrial DEVELOPMENTS
at home. and satisfactory progress
| In foreign financial and PREPARATION
matters, together with the fact that
little real liquidation had been.
forced BY the depression cf prices
early IN the week induced the hears
to cover their shorts n the late SEES.
sion. Prices in many active stocks
advanced to s points TO nesr the
high level Of the year to date.
| American Can, Cast Iron Pine, Gem
| els Electric, Mack Trucks, AJner5-
/ ean Water Works. American
4 tNUolen, and United States Steel
/ were leaders IN the late rally.
Copper Firm.
Two factors ACCOUNTED for the
better buying Of copper stocks this
week: The imminence Of the Ger
man settlement. which is expected
~ open Up the European market,
Tor the American red metal, ana
the rise ii prices 81 oliver on heavy
demand for this metal in China
and India. a number of American
copper mines have rich silver de.
posits IN their ore and are, there.
fore, prOfiting from the world
wide advance in the price Of this
Despite the fact thar this week
furnished the third consecutive de-
cline IN crude oil production, while
gasoline consumption increased
enormously and fuer oil prices made
another gain, the OH sfocISg n1ade
practically no response, and prfcos
In most active issues. not except
ing the STANDARD OH shares. were
lower. Most OF the OIL stocks are
at or near the bottom prices for
the year, and seem in no hurry
either TO tnaugurate, or TO partici-
pate in market rally.
Another brilliant record was made
n the week Of September "a by
the railroads Of the country, which.
IN some departments, are establish.
ing transportation records which
eclipse anything heretofore reported
IN the history of the country. Some
buying Of railroad shares followed
i the publication OF the report OF tho
American Railway Association, but
there were no outstanding deveIcD.
mentg In railroad shares, such a.
attended the merger rurnors,
earlier In the year. or the inaugura-
ton Of dividends on Frisco, pre-
ferred last week.
Cotton Drops.
Grain and cotton markets again
attracted speculative attention, cot.
ton dropping abruptly when the
Governments bureau reported i
yield III excess Of the expectations
lot the market grain prices were also
erratic. Speculative sentiment was
lsustained by favorable expectations
IN the United States steel Corpora,
tons report Of untitled tonnage on
Friday at noon. Money markets
again gave eyidenco that changes
IN money rates are not likely to
play q very large part In the near.
by developments, either in the stock
market or in industry.
u y H y