Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-11-08
ADVANCE IN STOCKS
CHECKED BY HEAVY
TAKING OF PROFITS
Many Traders Cash In on
Rally Which Resumes
at Opening.
MARKET is DISPLAYING
GREATLY IMPROVED TONE
Volume of Sales Shows Noticeable
Decline and Trading
Is Orderly.
Ry the Associated Press.

NEW YORK, November S-Tradlng
on the New York Stock Exchange re-
turned to normal proportions again
today with price movements decidedly
mixed. Early gains which ran from
81 to $40 a. share in the active issues,
and $40 to S3l in a few specialties, were
cut down, or wiped out, before the close,
and several of the recent leaders sold
81 to nearly $40 share below yes
terday's final figures. Profit-taking by
traders who bought stocks "for turn,
and the liquidation of stock bought
for supporting purposes were held re-
sponsible for the late selling movement.
u. S. Steel common dropped from an
early high of $l75.75 to $171 and re-
bounded to $1T325, or $1.25 below last
nights close. American Telephone,
American & Foreign Power, Radio,
Sears-Roebuck and Johns Manville con-
verted their early gains OF 81 to So a
share into declines running almost as
much. Auburn Auto, which opened $31
a share higher, fell back $24 from the
top.
Closing Prices.
Closing prices, together with net
changes, compared with the previous
close, on about so leading issues on
the New York Stock Exchange are
given below. When trading ceased at
pm. the stock ticker was approxi-
mately one hour behind in reporting
transactions and the final quotations
were furnished by the Stock Exchange
over the bond ticker.
American Can, 115H, down 424;
American & Foreign Power, 67A, down
, 534; American Smelling, 757s, up / IS !;
American Telephone & Telegraph, 222,
down 4; Anaconda Copper, 8634, up l u /;
Andes Copper, 1914, no change; Atlantic
Refining. 422s, up rs; Baltimore g.
up 115; Bethlehem Steel, 8912, down
3la; Briggs Manufacturing, 1919, up
"a; Canadian Pacific, 2o2, down 8; Cerro
de PaSco, 6914, up "a.
Chrysler, SO, up Il; Colorado Gas g.
Electric, 6814 down 234: Columbia
Graphophone, 24!5, up "a.
Commonwealth g. Southern, 1874, up
Il; Consolidated Gas, 963l; down 2:
Erie Railroad, 55%, up rs; General
485s, down "a; General Motors, 43,
down Il; Gold Dust, 4iSs, down Is;
Hudson Motors, 47l2, up u; Johns
Evansville, lis, no change.
Kennecott Copper, 671S, no change;
Missouri, Kansas & Texas, 36, up Is;
Montgomery Ward, 561a, down A; Ma
tional Cash Register, 1917, up 212;
National Dairy Products, 5l1s, up 4 |;
New York Central, 184h, down "a;
Packard Motor; I.,s,o,l, l7lA. p up 4; IN pan-
-Famous-Lasky SOS, down
2A; Radio Corporation, 351z, down 2;
Sears -Roebuck, 1925, up ~; Sinclair
Oil. 27Jk, up Il; Standard Oil OF New
Jersey, So, down "a; Studebaker, 46,
down y; Texas Corporation, 531s,, up
u; Texas Gulf Sulphur, 56A, up ga.
Strength at Opening.
Further buying support came into the
securities market at the opening ana
prices of leading issues rallied 81 to $40
a share in the early trading. Auburn
Auto Jumped $31 a share on the nrSC
sale. A few stocks lost ground on pro-
fit taking. Trading lacked the violence
of yesterdays opening declines, al al
though several blocks of 5000 to 15,OO0
shares changed hands on the New York
Stock Exchange at the opening.
American Water Works showed an
initial gain OF SO share, and Houston
Oil. National Biscuit, Goodyear Rubber,
Johns -ManVille, Dawson Chemical ana
Allied Chemical advanced $4 to SO a
share on opening CranSacCloIiS' Gaty
gains of So, or more, were recorded py
Padio, Chesapeake & Ohio, Mack
Trucks. United Aircraft Sears-Roebuck,
Commercial Solvents and American
Telephone.
u. S. Steel common, one of the lead
ers of yesterdays market. opened un-
changed at $l74.50.
Early buying was influenced by the
sustained rally yesterday and the drop
of S656, ,000, 900 in Federal Reserve
brokers loans, made public after the
close of the market yesterday afternoon
Curb Stocks Open Strong.
Leading Curb stocks continued to
climb at the opening OF the Curo EX-
change this morning, but the volume OF
transactions fell off markedly, ano
trading was the most orderly expert
enced in several days.
cities Service opened with a block OF
25 900 shares at $3l so, up 80 cents
This compared with recent opening
blocks of $4,000 to 225,00O shares
Trading in this issue has been so heavy
that the Curb Exchange sent out q
notice over the ticker this morning
urging members to complete trans
actions as rapidly as possible.
Electric Bond d Share opened WIFI
a block of $4,000 shares at S79.S7, VI
S5.87. Other opening transactions Wer'
largely in lots of few hundred shares
Electric Investors sold up $l4
sl28.50. American Superpower, Middle
West Utilities new, and many other IS
Nre