Evening star., 1929-11-15
STOCK PRICES GAIN
DESPITE LATE RUSH
TO CASH IN PROFITS
Cut in Rediscount Rate and
Drop in Loans Restores
Confidence.
CALL MONEY DECLINES
AS CREDIT STRAIN ENDS
Renewal Figure of 5 1-2 Per Cent
Is Lowest in More Than
q Year.
BY the Associated Press.

BY the Associated Press
NEW YORK. November 15.-Heavy
profit-taking swept over the New York
Stock Exchange in the last half hour
of trading today and carried scores of
issues 81 to $40 below their earlier high
levels, which ran as high as $35
share above yesterdays final quota
tions.
United States Steel common. which
had sold as high as $167.25, fell back
to $16425, a net gain for the day OF
$4.25. General Electric fell from $20l
to $l98, up So; Johns-Manville, from
$119.25 to Silt, up $12, and American
Telephone, from 1922 to $219.87, up
$2.62 net
Other leading issues were selling well
above yesterdays final quotations at the
close.
Final prices. together with net
changes, compared with the previous
close of about so leading issues, are
given below
American Can, 1852, up 8; American
& Foreign Power, 643s, up 2ss;
American Smelling, 1873, up 37s; Amer
ican Telephone & Telegraph, 21s7s,
up as Anaconda Copper, 83 as, up 4bs;
Andes Copper, 363, up 21a: Atlantic
Refining, 409s, up rs Baltimore g.
Ohio, 1852, up 234; Bethlehem Steel.
86ss. up Ia; Briggs Manufacturing, IL,
up /; Canadian Pacific, 208, up 9.
Cerro de Pasco 20, up 1912; Chrysler
up 2&; Columbia Graphophone %, up
u; Commercial Solvents 30. up u;
Commonwealth g. Southern 1914,
up rs.
Electric Power g. Light 381a, up 1a4;
Erie 491a, up 13s; General Electric 1913,
up g.; General Foods AZ, up 23s; Gold
Dust 4lM, up ga; Hudson Motors 43,
up 1%4; Johns Manville 1T, up 6; Ken
necott Copper "a, up An.
Lorillard 1873, up 9s Missouri Kan
sas & Texas 35, up 4; Montgomery
Ward 573s, up q; National Cash Reg
lister 712s, up 33s; National Dairy Prod
ucts 49h, up ~; New York Central
Ill, up 2; Packard Motor l6ls, up llai.
Paramount -Famous-Lasky 40. up 2.
Radio 32la, down Il; Radio-Keith-
Orpheum IT'S, UP IS; Sears-Roebuck
SO, up 6ss; Sinclair Consolidated Oil IS,
up 1ia; Standard Brands %, up /;
Il: Studebaker 43A, up 3A; Texas
Corporation 537s. up 23s; Texas Gulf
Sulphur 54H, up 57s.
Union Carbide 1875, up AS; Union
Pacific 218, up 41s; United Aircraft
43A. up 5A; United Corporation 2lh,
up ga; United Gas g. Improvement
2834, up 234; United States Steel 164A,
up 4A; Vanadium 81, up /; Warner
Bros. Pictures 4014, up SIS; Westing-
house Electric g. Manufacturing 1913,
up az; Woolworth 67as. up 612.
Closing Curb Prices.
Closing prices of leading curb stocks:
Associated Gas 81 Electric, At, up g;
American Cities Power e. Light A, 80,
up 2; Allied Power & Light 347s, up
4; American Superpower, 81 %, up Is;
American Investors, B, 1l5s. up IA;
Blue Ridge. 8, up rs; Blue Ridge
preferred, %, off a; Central States
Electric. 2lla, up ll2; Cities Service
80, up 2.
Earl Radio 29s, up u; Electric Bond
& Share, 6812, up AZ; Electric Share,
holders, Is. up 2H; Fourth National
Investors, 3312, up Az: Goldman Sachs,
40, up II; General Theater, 80, up 3;
Lehman, "a. up 3; Midwest Utilities,
220A, up 424.
Niagara Hudson Power, 141a, up /;
Shenandoah. 87s, up rs; Trans
America, 437s off q; Utilities Power
g. Light, 1872, up Ia; United Gas, 1874,
up /.
Gains at Opening.
Prices rallied 50 to $40 share at
the opening
Trading quieted down somewhat, but
there was steady demand for the
high-grade railroad and industrial
issues by investment interests, initial
gains. in most instances, being sub
stantially extended by the time the
halfway mark Of the three-hour ses-
sion was reached. The advance was
stimulated by the cut in the New York
Federal rediscount rate, the drop of
$7l0.000,000 in brokers' loans, the low
ering of acceptance rates and the re-
duction in the call money rate to 5l2
per cent, the lowest level since August
II, 1928. The announcement that sew
eral Of Wall streets bear" traders had
suspended operations on the short"
side OF the market helped to revive con-
fidence.
Standing Orders.
Placing of standing orders" for large
blocks of stock at the low levels reached
Wednesday also was viewed with en-
couragement, and tended to check the
| liquidation of investment holdings, par
ticularly by small investors Odd lot
dealers reported a substantial increase
IN buying orders for lots of 10 to IS
shares
! The ticker was running about an hour
late at the close.