New Britain herald., 1930-12-01
Stock Prices Show Better Trend, But Volume Markedly Falls Of;
 Traders Kill Time Awaiting Note
Opening of Congress and Impending Hoover Mes
 sage Serve to Quiet
 Down Session - Some Show 2 to } Point Gains.

New York, Dec. l P-Althougn the stock market was merely a tem- porizing affair today, prices wan- dered toward higher levels.
 The volume of trading ebbed close to the lowest levels of the year. Im- polling developments were lacking in the news of the weekend and with congress converting traders merely killed time pending delivery of the presidents message expected tomor- row.
 Nipples of Selling Appear
 There was a ripple or two of sell ing in the morning, mostly in the rails and utilities, but a gradual up ward trend in industrials and spe- cialties soon dominated the list.
 Few gains extended much beyond a point but here and there a stock stepped up or 3, including Dupont. Missouri Pacific, Cero De Pasco, AL lantic Coast Line, Missouri Kansas Texas Pfd., Studebaker, and Allied Chemical. Shares advancing a point or so included American Can, Wool worth, General Electric. Nesting house Electric, Bethlehem Steel. Re- public Steel, Union Carbide, Under wood Elliott, Consolidated Gas, Pacific Gas, Goodyear, Royal Dutch, North American. and Electric Power and Light. U. s. Steel about made up the ;1.75 dividend deducted to- day.
 President Hoover's oil conserva- tion policy was sustained in the Dis trict of Columbia court of appeals and is expected to be carried to the supreme court. Oil, Paint & Drug Reporter said that average prices for both crude petroleum and gaso- line at refneries were unchanged last week. Sir Henri Deterding lol ] stockholders of Royal Dutch that rumors concerning a bond issue or a reduced final dividend for 19SA were absolutely false.
 Loan calling was the heaviest in weeks and call money was firm at ? per cent. This was regarded as ioI 6cly lChipoi al y, 1oH eNci' iVAASct- ing the month end credit and cur rency requirements.
 Although tvading was too light to indicate any decisive trend, the fact that activity came almost to a stand still when prices declined, and pick ed up little on the advance, was regarded as encouraging.
 News Mostly Favorable
 News, while largely of a neutral character. was more favorable than otherwise. Developments in the cop- per and oil industries tended to bol- ster hopes of price stability. In cop per, all custom smelters were asking Il cents pound for the metal. aft CT last weeks price of 10 1-2. Large producers still held to their price of 12 cents and chances of their main- taining that price until large con- sumers are forced to pay it were re- garded with more optimism in trade circles.
 This frmsr tendency is usually manifest for several days after the turn of the month and 1t seemed barely possible that the two per cent rate, having held for more than two months, might experience a slight momentary upturn. Re cent pressure against bonds tended to relax. however. The rate which must be paid by banks upon receipts arising from subscriptions for the forthcoming treasury issue was re- duced from to F. per cent, fore- sEadoWlng an extremely low rate for the new government financing There is also continued talk of a further reduction by the clearing house in the rate paid on bank de- posits