Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-17
STOCKS ARE Lower:
ON PROFIT TAKING
$50.
Market Reacts as Traders
Realize on Recent
Advances.

special Dispatch 70 Inc STAR.
NEW YORK, November 1.-THE
start Of the week in the stock market
found recent buyers anxious TO take
form reaction, but one which did not
uncover any real weakness nor indicate
any important change Of sentiment
Stocks sold of slowly during the fore
noon. The coppers and utilities, together
with various industrials, came down
most readily, while the : amusement
stocks made the best resistance Per-
haps the relative strength In the latter
could be ascribed to satisfaction with
the Warner Brothers pictures report
which, although 1t showed q heavy fail
ing on from earnings a year ago, was
apparently better than had been ex-
pected. At any rate Warner Brothers
was one of the few strong stocks and
there was good support for Fox Film,
Loew's and Radio Keith.
s,COppers Sell on,
Copper stocks were affected adversely
FIRST BY the fact they had enjoyed 20
extensive o. rise last week and second
by an easier tone in the market for
the metal It was reported today that
first-hAnd sellers were offering copper
at IN cents against IL. cents, the re-
cent high. Anaconda, Kennecott and
the others dropped back something like
2 points on small volume.
The rails were not all reactionary,
holding better than the lndustrials. Mis-
souri, Pacific preferred advanced and
90 did Kansas City Southern. The COM
mon stock dividend now being paid at
the annual rate of 46. On the latter Is
being covered by o. scant margin &C.
cording to latest calculations, but. the
stock IN its price has discounted about
all the failing OF in earnings. Nickel
Plate made Q new low and most OF the
seasoned dividend payers ranged lower.
Utilities were all heavy and some OF
them weak. This part of the list has
lost much Of the following 1t attracted
last year and succunnbs quickly when
the general market has q setback
North American Co., National Power d
Light and Electric Power 81 Light were
on 2 to points and lower prices were
recorded for American Telephone, Con-
solidated Gas, Columbia Gas and Pub
lie Service Of New Jersey.
Standard industriAlS, including United
States Steel American Can, Westing-
house and General Motors, lost ground
Aside from the copper metal situation,
the only news that might have beer
expected to have. any effect was the
closing Of bank IN Louisville. It Is
doubtful whether this had much infiu-
ence. Reaction could have been ex-
pected alter flve days of rising prices
without any change in outside aifairs.
Opening Il Lower.
After q slightly lower opening the
market turned dull and prices held ct
about the opening levels.
United States Steel was IL points
lower at the opening, but later held
within . shade Of this level, and this
just about described the general tone
Of the market. Call money was uF,-
changed at per cent During the
first half hour shares traded amounted
to s4o, 800, against s72.ooO in the. tirst
Industrials like General Electric,
Westinghouse, Warner Bros, Case
Threshing and Radio, were OF / to 2
points. Anaconda at 80 on IM and
Kennecott at son of Ia showed the
trend in mine shares. In the rails
Nickel Plate dropped VI point to .
new low for the year. Chesapeake a.
Ohio and Allegheny were also weak.