Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-11-19
STOCK list FIRM
ION LIGHT TURNOVER
Motors, Accessories and
Standard Industrials Main
tain Steady Trend.
BY GEORGE t. HUGHES.

Special Dispatch to The Star.
NEW YORK, November 19.-Seldor
has the stock market testified more
eloquently to a change in Wall Street
sentiment than it did today IN its
ignoring of the unfavorable news and
its response to the favorable.
Stocks were only moderately higher
and there were exceptions to the trend
notably in the coppers, but the general
strength in the face of all outside
developments.
The most disturbing situation that
confronted traders at the opening to-
day was the crisis in the wheat mar
kets of the world. The collapse at
winnipeg and the forced support of
prices at Chicago produced dismal
forebodings for the day in stocks. Then,
in addition. half hour after business
had resumed the failure of stock ex-
change house was announced. Finally
there was still apprehensions over coun-
try banking conditions.
The market opened slightly higher,
reacted a little when the suspension
was announced and then hardened,
with motor stocks, motor accessories,
standard industrials and various spe-
cialties moving ahead.
Steel Trade Reviews.
Reviews Of the iron and steel trade
outlook were more optimistic than in
a long time. The Iron Age spoke of
prospects of heavier railroad buying,
a slight gain in demand from the auto
motive industry, further moves toward
sterilization of steel prices and indi-
cations that the scrap market may
finally be scraping bottom" as reasons
for encouragement. United States Steel
made a new high on the movement, al
though only fractionally above the pre-
ceding close. American Can and West
inghouse Electric gained and all the
motor stocks were actively bought
The situation In the motor industry
was said to be mixed, but dealers were
reducing inventories and there was
some indication that consumer demand
was gaining on production. During the
forenoon General Motors moved UP a
point. Chrysler made a similar gain
and Nash had a little larger advance.
Hudson, Studebaker and Hupp were all
more or less higher.
Opening Is Irregular.
After an irregular opening the mar
ket came under the influence Of an
other suspension of a Stock Exchange
house for insolvency and turned weak
The firm suspended was Bauer, Pogue
Pond g. Vivian, a house fairly prom
inent in New York, but having few
branches outside the city.
For the moment United States Steel
yielded market leadership to j. /. Case
which declined actively to 10TH, on
points. Air Reduction, Radio and In
ternational Harvester were other weak
spots in the industrials.
Money rates were unchanged at
per cent. In the first half hour shares
traded amounted to only 276, 400, against
342, 400 in the same period Tuesday.
With trading in such low volume the
weakness did not have a wide extent
except in a few cases. In the rails
Lackawanna was of over 2 points to
q new 1880 bottom. Anaconda was
OF fractionally and other mine share;
held close to Tuesdays last prices. II
the motor group Auburn was on nearil
points, but General Motors and Mash
were slightly higher. Utilities were
little changed. Western Union was q
point higher at 140 Oils were dull.