Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-07-25
STOCK PRICES FIRM
IN LIGHT TRADING
Support for Leading Issues
Holds List in Narrow
Range.
BY CLAUDE A. JAEGER,
Associated Press Financial Editor.

Associated Press Financial Editor.
NEW YORK, July 25.-Bull forces
were content to rest on their oars and
let the stock market drift on the ex-
tremely sluggish currents of speculative
activity today.
Trading slumped to around the low
est levels of the past two years. Price
trends f1uctuated uncertainty and were
for the most part narrow and inconse-
quental, Support was provided for
most pivotal shares, and the market as
q whole maintained steady to firm
tone most of the time.
Investment Buying.
A moderate trickle of investment
buying has come into the market in
the past few days, but on the whole the
public response to rather widely dis
seminated buying recommendations OF
two large commission houses has been
anything but impressive.
Bulls were inclined to feel from the
start that it would be difilcult to MAIN
tain q sustained advance, and cautious
attitude has become rather general.
Several important banking interests re-
gard this as healthy attitude. for they
feel that runaway market might re-
suit in repetition of the Spring and
business confidence.
It has been notable, however, that
the bear faction has become, If any
thing, even more cautious than the
bulls II further efforts on the up side
meet with scant success, nevertheless,
precedent indicates that professional
traders will finally again try their hand
at the down side Of the market.
The overnight announcement of a
drop Of $1,000. 900 in brokers' loans,
in contrast to forecasts of gain of
$50 000, 900 or so, failed to generate any
considerable enthusiasm. Traders per-
flaps remembered that the furry of bull
iiShneSs created by the unexpected drop
Of $21 100000 in the last full week of
March proved i'll timed.
Copper Sales Improve.
A bright item in the days business
news was report of heavy buying of
copper. both for foreign and domestic
use. Stewart-W Warner declared a quar-
terly dividend of so cents, against IS
cents three month ago, and 87A cents
six months ago. r. G. A.-Victor man
Agement announced that production
would be brought to full capacity by
August Is Less favorable in its impli-
cations was announcement of substan-
tial cuts in prices of iron and steel
products at Chicago warehouses.
Radio and General Electric were ac-
tive features, but failed to make head
way. United States Steel was we'll sup
ported at moderate concessions from
yesterdays close, and General Motors
held fairly steady. Westinghouse and
American Can dropped couple of
points after meeting fair support during
the earlier hours of trading. Auburn
was a soft spot, losing few points.
Auto Strop sold up nearly 5 in re-
Spouse to first-half earnings of $3.50 a
share, more than double the like period
of last year. but later reacted in profit
taking. Eastman gained as much.
Curtiss Publishing gained about 3 in re-
Spouse to flrst-half earnings, close to
last years, and Stewart Warner gained
like amount on the dividend an
nouncement Gillette, Mengel, Para
mount, Loose Wiles and Anaconda sold
up moderately. Transamerica, first
traded on this market moved mar
rowly.
Credit was easy call loans renewing
at 2, and going TO l per cent outside.
Time money was about Il lower for
most maturities.