The Waterbury Democrat., 1933-10-30
BY MAX BUCKINGHAM Limited Press Financial Writerl

New york, Oct s0-(UP)--Wali Street today had difflculty in anal yzing the latest administration monetary plan-purchase of gold in the world market-and as a re- suit prices wound up considerably easier than on Saturday.
 The opening was strong and ouiet. gains running almost to points. Near the close fresh rum ors spread through the trading cen- ter to set off heavy liquidation and prices dropped fractions to 5 points below Saturdays close. Trading picked up on the down-trend, tick CTS getting behind the actual mar ket in the brief spell of liquida- ton.
 The monetary situation was the chief factor before the market. Announcement of the gold pur. chase pj6n resulted in 2 weakeneo United States dollar; dropping to around 66 cents in relation to the franc. The established gold pricel advanced to Ss1.96, gain of IA cents over Saturday. The dollar continued weak all day but towards 3 o'clock, foreign exchange dealers reported a reversal in trading had come in with European currencies being offered.
 This report coincided with rue nor on the stock exchange floor that France was about to declare a gold embargo--wholly uncon- firmed--in retaliation to the Amer ican policy. While lacking sup port, such plan was suggested to- day by the Parisiari newspaper La Liberte under the heading of "New Offensive Against the Franc. Other newspapers in Paris had articles discrediting such sugges- tions.
 points before it, the stock market was extremely nervous. United States Steel was an example. IL opened abouve 40, moved to almost 41 and then in the final selling drive, much of which came from western interests, moved around 37. American Telephone was up above 116 and in the final drive dropped below 113 for a loss Of more than 2 points. ].
 one of the widest declines came in Union Pacific which showed 5 points loss near the close after an earlier gain.
 Even the gold mining stocks could not maintain the strength |. they had shown in the earlier part of the session. Homestake near the close was down points to 357. Alaska Juneau showed a fractional | decline after an earlier gain of more than a point. Mcintyre por- cupine still had fractional ad- vance as compared with an earlier gain of more than 2 points. Farm shares had been strong on the early analysis of the monetary policy. But J. I. Case, early leader 1 with a gain of more than points,
 dropped more than points below
 Saturdays close to around GA. In-
 ternational Harvester was off l point at 35 1-2 after an earlier
 gain of almost points. Deere and company was fractionnlly lower af-
 ter more than point gain in early
 trading.
 oil shares were easier by frac-
 tions. Motors were off fractions to more than Q point.
 Near the close sterling and francs 1 both started declining in the for
 eign exchange market. sterling los- inS about cents of it's early gain
 This brought an easier tone into
 the cotton market which had
 shown strength during the day | Grains closed lower with wheat
 and corn both off more than cent
 after earlier strength.
 Wall Street On Gold. New York, Oct. 30-(UP)-The
 possibility of a vast-scale gold war
 between the three principal gold
 holding nations--the United States
 Great Britain, and France--arous.
 ed speculation in Wall street today
 as a result of the administration
 decision to buy gold in world markets.
 Rather than permit the United
 States to depreciate it's currency al
 the expense of their own, Great Britain and France may enter the l fight. some observers predicted. The