Evening star., 1933-10-08
STOCK LIST STEADY
TO FIRM AT CLOSE
Most Financial Markets Feel
Burden of Uncertainty in
Commodities.
BY VICTOR EUBANK.

NEW YORK. October Most A.
nancial markets moved at a snairs
pace today, progress apparently being
innpeded by irregularity in grains and
other commodities. Stocks dipped and
rallied listlessly in trading that was
the dulleSt in some weeks. Alcohols
and specialties were given mild sup
port but the list, as a whole. merely
drifted The close was steady to firm.
Transfers approximated only 100000
shares.
Further governmental action to ad-
Just labor difficulties and push up COM
modify prices acted as an early Stim-
ulant on equities Grains, however, re-
acted after show of strength and
stocks were without sufficient vitality
t. proceed very far alone. After & rather
sharp break. wheat and corn rallied
somewhat indecisively and shares i'm
proved. Cotton was firm. Bonds showed
fair amount of resistance. The dollar
moved up substantially against leading
foreign exchanges
Repeal Issues Rise.
Repeal issues, up to around 3, in
cluded National Distillers, United
States Industrial Alcohol. Schenley and
American Commercial Alcohol Some
Of the New York traction stocks got
up around points Among others up
l to around were Celanese, Indus
trial Rayon. Case, Deere. Sears Rec
buck, Johns -Manville, United States
Steel and Union Pacific. The metals
we're quite narrow, although United
States Smelling advanced about a
point American Telephone was easy
throughout and the majority OF the
rails did little
While spectators generally were un-
decided as to forthcoming market de.
velopmentS, banking quarters appar-
ently felt better than in scme time
PAST Until recently leading financiers
we're of the opinion that currency in
iiation was only matter of time. Now
the picture in the eyes of most bank
ers, has assumed brighter aspect and
Coubts are openly expressed that there
will be any monetary tinkering at all.
Initiation Opposed.
The stand of the American Fedora
ton of Labor and the American Legion
en- the sound money" question, the
banking contingent believes, Is fairly
representative of the feeling through
out the Nation. Some economic OBJ
servers. however, hold that drastic cur
rency expansion is not a dead letter
and that, even if President Roosevelt
does not exert his prerogatives in the
matter, the next session of Congress
may do so. At the same time, it is
admitted that by the time the session
convenes the honest dollar" move
ment may have gained such headway
that imitation will be permanently
shelved.
Wheat jumped about erratically, but
late buying orders enabled it to recover
and close with gains of l "a to Z cents
a bushel.
Corn also came back, but without
much enthusiasm and finished with net
gains Of 5s to - of a cent. Oats were
slightly lower to 3. of cent higher.
Rye was soft. losing 25s to 27s cents,
but barley held an advance of y to
cent. Cotton firmed to 25 cents
bale
Bar silver lost 4 of a cent at 80
cents The British pound sterling
slumped 312 cents at a cable rate of
S4.691h. French francs dropped 09 of
cent at Sol cents. Dutch guilders
yielded 97 of a cent at 60.85 cents. and
Swiss francs, Belgian belgas, German
marks, the Scandinavians, Canadian
dollars and Japanese yen sagged "a to
25 Of a cent.