Evening star. [volume] (Washington, D.C.) 1854-1972, 1933-11-19
STOCK LIST STEADY
IN SLOW TRADING
Most Investors Seem Salts
fled to Maintain Previous
Ii Positions.
What Stocks Did.
BY VICTOR EUBANK,

b1 NICIOh ENbANh,
Associated Press Financial Writer.
NEW YORK, November 18 (P).-The
stock market moved at a steady but
rather slow gait today, and most trad
ers and investors seemed satisfied to
maintain their previous positions. The
dollar dipped and rallied. grains were
q little heavy and the domestic gold
price was again unchanged. Transfers
Appropriated 100000 shares.
The recognition of Russia created
barely a ripple on the placid equities
list, this development having been gen.
orally discounted. The dollar dropped
about cents to sterling in inaugural
transactions and was off OF of a cent
in relation to the French franc. 1t
recovered some of these losses later.
Wheat ran into stop loss selling and
sagged some 2 cents buShel in the
morning. Silver futures were cratic,
with the bar metal losing Il cents at
43Ss cents an ounce. Cotton cid little.
U. S. Government securities were IT.
regular and other bonds mixed.
Slight Advances Shown.
Shares of Du Pont and U. S. Smelt-
ing moved up around points, and adj
vances of fractions to around a point
were registered by Western Union,
Case. u. S. Steel Chrysler. Sears Roe
buck, Continental Can, Mcintyre
Porcupine, Deere, Cerro de Pasco, Allied
Chemical, International Harvester,
American Commercial Alcohol, National
Distillers, United Aircraft and West
inghouse. The rails were hesitant.
Sante Fe and Delaware 81 Hudson los
ing q point. The farm machine group
firnned / to points in the first hour,
but yielded the major portion Of their
gains later.
In contrast with a few months ago,
speculative quarters appeared to be I'M
worried by persistent reports that dol
lar sterilization is being seriously con-
sidered by the administration on basis
of so or so cents in gold. Some oper-
ators were of the opinion that Stabili-
cation, instead of bringing a defla-
tionary price relapse, might release a
pent-up flood of investment buying
which would make sound equities I'M
usually scarce.
In line with this theory and the esti-
mate of some bankers that the capital
flight from America has amounted to
at least $1,000, 100000, there is a posi-
bility, it is said. that as soon as the
monetary unit is placed on a new but
dennlte gOlQ DaSe, American 4uI1OS IIldI
have sought refuge from imitation
abroad will come home with rush and
will be placed in stocks, bonds and
commodities.
Foreign Buying Cited.
Foreign buying also enters the pic
ture, the assumption being that. with
the dollar back on gold and with the
United States holding more Of this
metal than any country in the world,
money abroad may consider America as
the safest investment port.
While the Government recently has
frightened its restrictions on the export
of capital, exchange dealers were unde-
cided as to just how far the authorities
could go IN stemming the outflow. 1t is
not believed probable that the admins
tration could effectively force the return
of capital which has been invested in
foreign securities or that has found It's
way into banking, vaults abroad. Il
can, however, dealers said, make 1t ex-
trenely difficult for future transfers.