New Britain herald., 1930-12-10
Stock Market FGrts Today With
 Three- Year Low Level Recorded
 Just One Month Ago In Wall St.
List Gives Way Under Per- sistent Selling and Losses Become Numerous In Afternoon.

1 New York. Dec. 10 LP-Thestock i market fiirted today with the three year low level recorded just one month ago.
 ! After pushing up a little during the first hour, the list gave way under persistent selling. and by early afternoon. losses of to points were numerous. The rails, having already broken the average price of 20 issues, to record the loves level since May, 1926, moved still lower, and d handful of industrials and utilities penetrated below the bot tom prices of month ago.
 1 Failure Of the copper producers to maintain their recent advance in the i price of the metal to F cents | pound, was an unsettling develop- ment offsetting favorable news from l the steel industry, Bethlehem Steel l Westinghouse Electric, Johns Man ! vile. Illinois Central, St. Louis | Western, New Haven railroad, Inter- national Harvester, Eastman Kodak and American and Foreign Power sold off to points to new bottom prices, L. s. Steel, American Can American Water Works. Consoldat- ed Gas, and DuPont were among is sues saeging ? points or so.
 steel News Cheerful
 i AS had been forecast, the weekly steel trade reviews sounded an op- 1imistiC note. and the United States Steel Corp. reported an increase III ! it's thrilled orders during November of 157,S73 tons.
 Iron Ages estimate indicated that steel ingot production had sag ged to 38 per cent Of capacity, against 39 last week, but this was regarded as representing merely the seasonal trend. In fact, "Amercan Metal Market" said the decline in steel mill activity, as refecttng gen. eral business recession. ended at the close of October, since when only seasonal influences have been felt. Orders and production have decreas- ed since then, and by the same tok- en there vii! be improvement after January l, probably immediately after"
 \. !. C. Pays S2
 Dividend news included some bright spots. Despite some rumors 10 the contrary, New York Central declared it's regular quarterly pay ment of s2 a share American Wa ter Works discontinued it's policy of paving only 5 in cash, and , pc: cent in stock, annually. and placed it's shares on a g. annua! cash basis with quarterly disbursement Of 7J cents. Checker Cab. however. re. duccd its annual dividend basis from S4.29 to $1,S0.
 Fresh selling of the rail issues ap. pcarel to be partly in response 10 the report of freight car Ioadings tor the week ended November 29, which included the Manufacturing day holiday. A loss from the prcvi- ous week Of 77,679 cars, however. vas less than the normal seasonal decline for that week. Declines from the like weeks ot 1929 and 1928 lteNerthelcSs. were 1G and o2 Der cent. respectively. The decline from the like week Of 1928 was close tc the widest Of the year What fig ures are now available lead to the hope hat the comparison for the first week of December will be found 10 have been more favorable.
 Copper Drops
 me drop In copper prices from 10 II cents pound seemed to indicate that the large producers had decided that their recent Jack, Ing lip Of the domestic price from 1-2 to 12 cents pound had been too rapid. Most of them have with. drawn from the market entirely pending better demand The weak ness in silver Was another cheerless aspect Of the non-ferrous metal situation. The weekly petroleum statistics showed another substan- tial cut in crude production. but gasoline stocks again increased. which was disappointing in view Of the recent price heaviness.
 Call money was firm at ne~ cont There Was no concession in thr outside market, where limited funds were offered yesterday at ] 1-2 per