New Britain herald., 1930-12-05
Undermining Influence of Unrest
 Causes Another Gentle Settling
 Of Share Prices In Stock Marke!
Creeping Sag of Past Two Days Gains Momentum for Brief Time.

New York, Dec. tib-The un- dermimng influences of impatience and uncertainty caused another gen. tie settling of share prices in to- days stock market.
 Trading quickened a little, and the creeping sag of the past two days gained momentum for d time, but around midday, the market seemed to strike hardpan and after a mo- mentary upturn trading dwindled off close 10 the vanishing point.
 Rails were again the copspicuous- 1 ly heavy group. New York Central Chicago and Northwestern, Frisco Southern, Lackawanna and Nickel Plate sold off 1 10 3 points to new lows for recent years. A few spe- Cialties broke rather widely. Fire stone preferred, Eastman Kodak and Coca Cola sold off about 10 6 points.
 Shares losing about points in- cluded L. s. Steel North American. American Tobacco B American Power and Light. Air Reduction, and Associated Dry Goods. Losses of a point or so embraced more than d score of prominent shares. Bears Grow RestiSe Bears, growing restive, put out 2 few feelers here and there, and are apparently anxious to test the bot tom levels reached Nov. 10, although the lack Of extensive liquidation, and the way pivotal stocks have been taken on small declines. has offered them scant cncourag cement.
 Wall street vas inclined to make something Of q mystery of the recent conferences of prominent leaders in finance on both sides of the Atlantic. Governor Harrison of the New York Federal Reserve bank. and Owen D. Young, recently returned from abroad. met with Eugene Meyer newly appointed governor of the reserve board in Washington, at the Reserve bank yesterday. Called at the bank at the same time was J P. Morgan. also just back from Europe. Wall Street is inclined 10 look for some constructive develop ment in the international banking situation, but seems to be very much in the dark about it all
 Call Money Firm
 The weekly federal reserve state ment. showing d further small de- cline--of sl1.000, ,OO0-in brokers loans, and further extension of credit to meet seasonal and month end demands failed to provide much Of interest Call money was possibly a little frmer at per cent Outside offerings at l 1-@ per cent were small. The fall of the French cabinet was not regarded as a com- plicating development, and foreign exchanges held fairly steady, al though there was slight sag in the franc.
 Statements by Royal Dutch off cials urging the oil industry to fol- ! low the copper and steel producers in bolstering prices were regarded as encouraging, coming from the largest crude producer in the world. and an organization which has at times greatly intensified competition in marketing, but as this is the time of seasonal slackening of consump- ton. spectacular developments were not expected.
 Issues Statement
 A statement that there are many reasons for feeling certain that good h.. do 1f all kinds before many months have passed" by l.. M. Herr vice chair man, formerly chairman, Of West inghouse Electric and Manufactur- ing Co, was of course, encouraging. but promise of slow improvement seems but a crumb to impatient stock traders, although most eCono- mists say that is the best that can be expected.
 The interstate commerce commits sions acquiescing in requests of western railroads for further time cNtensicn to April of the effective date of the order drasticaly reduC- ing rates on grain and grain pro- ducts provided little cheer 10 rail- road interests, but was inadequate 10 effect the stock market.
 Sears Roebuck sales report for the period from Nov. 6 to Dec.3. show ing a drop of 20 4-5 per cent from the like period of last year, was not very cheering, as it showed little improvement over Montgomery Wards November report, which was off o5 per cent. Merchandising executives. however, expect Decem- Der to make a substantially better showing.
 THE MARKET AT 2:00-3:0 r. M.
 Total sales to o:10 ?. m.-1 @68,- 400 shares.
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