Evening star., 1933-12-15
STOCKS SELL OFF
SLIGHTLY NEAR END
Losses of ST to More Than
So Are Registered Before
List Braces,
BY VICTOR EUBANK.


NEW YORK, December 15.-stocks
dipped moderately in the last hour to-
day, following earlier steadiness. Losses
of / to more than points were regis
tered before the list braced.
United States Industrial Alcohol and
Owens Illinois lost around points a.
their worst
American Telephone was of and
United States Steel eased a sizable
fraction, but Pullman and Armour pre-
ferred were isolated firm spots. Trans.
fers approximated 1,050, 900 shares.
Actual news Of an especially stim-
ulating character was lacking. There
was no change in the gold rate and
the dollar after sagging in early foreign
exchange dealings, came back to around
lts closing quotations of yesterday.
Grains and cotton moved within mar
row limits. Stocks were almost at a
stanostlll during the greater part of the
session and the ticker tape sputtered
lazily.
Make Sman Advances.
Shares of Case, Auburn and Santa Fe
during the forenoon got I'D about
point each and fractional advances were
recorded by United States Smelt
ing. Chrysler, du Pont and some
others. American Telephone, United
States Steel, Western Union, American
Can. Consolidated Gas, United States
Industrial Alcohol and many Others
were unchanged to slightly lower.
The carloadings report for the week
ended December 7, was about in linz
with previous estimates. There was an
increase of 42,078 over the preceding
week and 1896 over the like 1882
week The recovery was ATTRIBUTED
partly to natural rebound from the
Thanksgiving holiday week.
With currency sterilization rumors
seemingly on the shelf for the time
being. trading circles were waiting ex-
pectantly for the next boost in the gold
rate and its probable effect on security
and commodity quotations. There were
many guesses as to when the raise
would be announced, most of them SET
ting the probable date for Monday.
Market analysts were still bullishly
inclined for the long pull" although
the majority refused to make any pre-
dictions as to the nearby action of
equities. The undoubted Improvement
OF business and industry. however, was
factor to which many attached even
more importance than to the gold
buying program.
Trade News Favorable.
The weekly report of Dun g. Brad
street found that inquiries in all parts
OF the country revealed more progress
Is now being made than at anv time in
the last three months" 1t was further
stated that general business trends not
cnly are upward, but the betterment is
resting on more stable basis than dur
ing the Midsummer upswing"
Because of the Governments financ-
ing. transactions in the money market
today were the largest for this date In
several years. Around 1000 600 900
including s500,000, 900 cash, was in
volved. The huge turnover involved the
meeting of Treasury maturity of
around s727,000,000 from the proceeds
of the new s950,000, 900 one-year q.
Fer cent note issue 1t was understood
that holders of about s6O7 SOC. 900 of
the maturing issue had already tende, ed
their holdings for the new notes. The
remainder were to be paid in cash. In
ADDITION, Government interest of about
sl00 900 was met and the Treasury
estimated receipts of approximately
sl6c,OOO,O 900 in income taxes.