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Show PRICES ON THE NEW TORK EXCHANGE RESIST PRESSURE Bears Fail to Profit by Complications With Aus tna, High Grade Shares in Demand for Investment By BROADAN WALL By li ternat onal News Service NCW YORK, Dec 17 A hough the s ock narket dlsp ayed an Irregular trend toda prices es sted pressure and sel ing fa led to d slodge any amount of stock worth mentioning The professional bears again made use of the compllca t ons w th Austria, but, e-ccept for a short t me in the ear y afternoon failed to exert any appreciable influence on quota ons CommiBs o houses eported that there was p -actlcal y no speculative buyiwr al though there was a quiet but small In vestment demand for high grade shares, wh ch are be ng taken particularly from the street. They say, that there would be a gradual reduct on in the floating supply of stocks were t not for the steady liquidation by Great Britain which some bankers estimate at about half a million, dollars a day Son e commission houses ate looking for a reaction and are adv s ing their customers to get out of the market Others do not look for any substantial sub-stantial recession because they have a substantial amount of orders placed by customers slightly under the market. Expectations of a reaction are based on the fear that the Austro American situa , tton may assume a more serious aspect. Opening Strong Strength prevailed at the opening and 1 throughout most of the forenoon oil shares and Consolidated Gas being favor Ites Toward noon the floor traderB began pu ting out stock which resu ted in a decline o the lowest levels for th b move ment but these commi ments were cov ered n the ate af e noon result ng n a ral j in w c he stands d issues recov ered to or abo e the p ev ous clos ng Gold shares were pron nent In the re co ery Alaska Gold after declining to a new low le e for this movement railed o points from the 6ottom on buying said to be short cover ng by interes s who ve e said recently to ha e aided In the down ward movement. The str ngth of Alaska Gold had a sympathetic Influence on Alaska Juneau American Coa Products common was inactive around lo3 but reports we e cur rent that another n ovement Is about to get under way This stoc has done yen Uttle in recent weeks following its sharp advance from 85 a year ago to 170 An insider says that earnings show a sub stantlal Increase over last year due to tne Improvement In general business and "unusual demands. He says the outlook for next year is bright Motor Shares Lower Motor shares were lower with General Motors at one time showing a decline of thirty eight points Twenty five points of this ho v. ever was recovered before the close. A director says the board will meet some time In January to discuss dividends hut cannot prophesy what will be done. Distillers' Securities corporation stock, was one point higher on reports that the company in the last week had booked additional orders for 10 000 000 gallons of alcohol for export at 62 cents a gallon against 30 cents the price prevailing at the beginning of the war The bond market continues tan. In estment bankersare thankful for the si gilt faUmg off in the demand the last three weeks, declaring that the terrific pace at which prices were advancing cou d not have been maintained. |