Evening star., 1926-12-15
UNDERTONE FIRM
/ ! IN STOCK MARKET
Volume of Business Keeps
Up, But Does Not Climb
as in Other Days.
BY STUART p. WEST.


Special Dispatch to The Star.
NEW YORK. December 10 -- ii'
main question as business began II
Wall Street today was whether or no
Yesterdays 1000, ,000-share total meah
that the public was coming IN more
freely, that what has been for weeks
mainly a big professional speculatloi
was to branch out into big popular
buying movement.
on this subject the days results
1,.era nor conclusive There was the
same strong undercurrent ready te
support stocks whenever tney solo
off at all. There were numerous ad
Vances again in particular STOCKS, lne
header of aIl-being United States Steel
which sold at the highest prices
reached in the recent movement.
ON the other hand, the volume OF
business, while it kept up, did not III
crease after the manner or Octopel
and November in 1879, Wnen ouls1aei rIt :
were rushing headlong into wan
street and the Stock Exchange was
doing as much as 100000 shares
day. 49,.
The main features were as tnet
i>ava been ever since the middle OF
October, when the market turned
after the severe reaction OF the early
Autumn These features were a
steady buying power from profes-
sional sources. forcing prices hlshef
here and there, but not touching the
general list. ,,;,,
Locomotive led the way. wan s'ieet
was particularly impressed with the
- X.
= fortnight or so had been father
hanging fire and had seemingly
been responsive 10 trade reports Whlch
1old of recessions When the steer
.shares started forward yesterday ana
got above 153, and then TO-DAY Wen
above 154, 1t completely did away with
whatever distrust there had been IN
this quarter.
IT was given out that Baltimore
and Ohio proposed to exercise lts
rights to subscribe to the Reaulhs
Coal Corporation shares. ii VIII theil
have until the first Of next July TO
oct rid of coal certificates or to
liouidate its interest in the railway
comnanv. One or the other course
has been made mandatory by the
cour
The initial advance attracted some
raoli1ino h,1t If was absorbed on set
hacks of a few points, while there
was little. if any, selling by the Soutn.
The absence of pressure from tnal
source promoted further covering, ana
the market was steady at Midday,
with January selling at lZ.oS anu
Nav at 1855, or about to 3 points
net higher.
One or the other course had peen
made mandatory by the court. The
news caused a brisk buying move
ment in Baltimore and Ohio stocks.
In the oil section Atlantic. Refnlng
was the feature, with rather snarp
advance. Independent on ana CAS-
where the Durant interest is com
monty mentioned, was heavily bought
at th, outset, running into proht tax
ing later in the day. Other oil shares
were for the most part either un-
changed or fractionally higher.
Intlependent steels were slow TO iol-
low the leadership of United states
steel. The sugar group was lrreg-
MAR. with some signs of profit taxing
in South Porto Rico. New YORK CITY
fractions dropped off sharply, the
street not being SO keen as II was
TUESDAY about the plans or the state
Transit Commission.
There were new high records IN
the collins and Aikman stocks, ana
Inrernational Harvester sold at
new high for the year. Golu Dus.
was another speciality when ran up
sharply. International Mercantiie
Marine preferred was actively poushl
for a, time at advancing prices