New Britain herald., 1930-12-16
Stock Market Again Feels Heavy Weight of Dull Commodity Price
 Lists Throughout Session Today
Strength of Industrials Spent as Oil and Other Issues Have Depressing Effect.

New York, Dec. 16 P-The stock market again felt the oppressive weight Of heavy commodity prices today, after showing an inclination to advance in the first hour.
 Strength of privotal industrials was soon spent, as oil and miscel- laneous issues again dragged the list down. By early afternoon many prominent issues were off 7 to 5 points to new bottom prices. Trad ing was in only moderate volume, diminishing substantially from the turnover of the previous session.
 Standard Oil Of N. J. was con- spicuously heavy, breaking about points to new low since 1928, close to 46. Its 1929 low, recorded in February. was 4S.
 Texas Corp. Loses
 Texas Corp. lost nearly as much, recording a new minimum for the present shares. L. $. Steel sold up 2 points only to drop back to new low ground. Canada dry broke points on reduction of the annual dividend rate from $5 to s3, and Coca Cola lost '. Shares declining to to new lows included American Telephone. American Water Works, American Smelling. New Haven, Atchison, New York Central, Eastman, Inter- national Harvester, American Can, Columbian Carbon, Postal Preferred. American Tobacco B and Missouri Pacific Preferred. Auburn had a temporary spurt of , points on short covering.
 The continued selling Of the pe- troleum issues seemed to reflect nothing more tangible than growing dissatisfaction with the low and un- profitable prices prevailing in the in- dustry, and apparent inability of the industry to do anything about 1t at this season of low gasoline con- sumption. In addition, copper prices fell back further. Copper Export CTS, Inc. reduced it's price 1-2 cent to the basis of 10 1l-2 cents q pound domestic, and some custom smelters offered the metal at 10 cents, only F cent above the 34- year low touched a few weeks ago.
 Efforts Hampered
 The recent plunge into new low ground by the cotton market was partly attributed in the trade to special and temporary factors, such as banking difficulties in the south. hampering the stabilizng efforts Of the co-operatives. The market gave q somewhat better account of itself today. Report that the Ger man sugar producers had withdrawn from the conferences of the Chad burne committee in Europe were not interpreted over bearishly in local trade circles, where it was said that private advices from Europe led to the belief that the conferences would be renewed.
 The market utterly ignored the increase Of , to 10 per cent in prices quoted by American Radiator and Standard Sanitary. although in building circles this was regarded IS fully as favorable an omen as the recent increase in the prices of plates, shapes and bars was regard ed in the steel industry.
 Expect Revival
 IL was recalled that the building industry, which gives employment workers, was a leader in the business revival which followed the 1920-21 depression. Of course, there was a shortage of building at that time, owing to the accumulation of de- ferrel projects during and immedi- ately after the World war. It is felt in building trade circles, however, that there is currently substantial amount of deferred construction only awaiting signs that the decline in building costs has been checked.
 The monthly foreign trade figures, as expected, were not cheerful read ing, although a seasonal decline was to have been expected. The Novem- Der exports. totaling S2S9,000. 900, were the smallest since July, and imports of s2o4.70O,000 were the lowest since January Of 1925. The decline of more than 15 per cent in commodity prices, however tends 10 warp comparisons with recent years.
 Credit conditions were a little easier, presumably rejecting the treasury overhaul in connection with its quarterly financing. Call money held at 9 l-2 per cent at the