Evening star., 1930-10-30
CURB SHARES DROP
!. ON TRADE REPORTS
UnfavorabIe News Stressed
in Fresh Attempt to
Depress Prices.
BY JOHN A. CRONE.
tch to The Star.

Special Dispatch to The Star.
NEW YORK, October 30.-Discourageo
by the mfavorable character of business
news and the weakness of the preceding
close, the curb market opened lower to-
day and continued that trend.
Public utilities were moderately
strong, but coppers, if the foreign group
be excepted; petroleums, motors and
investment trusts softened. Electric
Bond g. Share was down about point,
but Electric Shareholding, Niagara
Hudson Power and few others main
tanned their prices. Cities Service in
the forenoon was down to "a, off 4
point
Humble Oil g. Refining was the first
OF the Standard Oil issues to hit a new
low for the year. Gulf Oil of Pennsyl-
vania Slid three points to within a
small fraction of its 1880 minimum
Some Of the lower-priced South Ameri-
can oils, like American Maracaibo and
Venezuelan Petroleum, opened at their
previous low levels.
Newmont Mining fell l "a points to its
lowest price this year, while foreign
copper shares, such as Hudson Bay
Mining, Noranda and Roam Antelope,
again advanced. Traders, viewing the
copper conference, express the belief
that world restriction on output may
make domestic mines severely curtail
their production.
Ford Motor of Canada A moved
downward, losing point on its first
sale as result of the price reduction
of $75 in Fordson tractors. Ford
Motor Ltd, eased. Nachman-Spring-
field Corporation, which supplies the
automotive industry with mattresses
and other accessories, declined to new
low territory.
H H. Franklin Manufacturing COM
mon, which was an exception to the
motors trend, came out unchanged at
z following the omission of the
quarterly preferred dividend.
Trading in the first two hours amount
ed to 203, 400 shares, which contrasts
with 205, 400 in Wednesdays forenoon
session. Today's market was character
lied by the appearance of fewer in
dividual issues and greater uniformity
Of group movements.
National Fuel Gas and Duquesne Gas
furnished contracts by their strength
in the natural gas division, where Lone
Star Gas, United Gas new and Men,
phis Natural Gas softened in the fore
noon. New York Transit with a frac-
tional gain was one Of the few active
pipe lines.
Glen Alden Coal broke points to a
new low of IS. CrockerWheeler Electri-
cal likewise hit record low price.
Rainbow Luminous Products, one of
the c. v. Bob sponsored concerns, which
was traded in on the curb until the
Piperno suspension early this month,
was sold at auction after the close We'd
nesday. Luminous A, which sold around
Is, and the B, which was quoted around
4H just before their suspension from
the curb, brought varying amounts at
auction. One lot of SO A shares sold at
SITS, while two lots of 400 and 337 B
shares brought $255 and $3.50, respec-
lively.
Cslanese participating preferred was
q strong spot among textiles. Indus
trial Finance Corporation lost a point.
Prince g. Whitley Trading Corpora
ton was little affected by the Stock
Exchange expulsion of two former di-
rectors, who also were partners of the
bankrupt brokerage house of that name.
The trading corporation now is under
new management.