| Show IN Weakness of Copper Price 1 Unsettled Market Rails React Markets at a Glance 1 NEW YOUK Weak Stocke-Weak Weak pivotal shires d HIM to years year's lew m prk narrow as its offerings offering slacken Curb Carb Weak leaders leaden l leso s 1 I u t a points in 4 Penn firm tn q C Lower tt n lower I hedge poor trade demand ii Cuban Cubin Im log Cotter higher Coffee Higher steadier markets CHICAGO 1 Wheat Wheat Steady farm l buto and bullish weekly weather Corn Weak Corn larger contract contestS 4 aV Cn tile Irregular I Hogs hogs Lower B By CLAUDE A. A JAGGER Associated Press Financial Editor NEW YORK Dec 10 The AP-The stock market flirted today with th the year three low level recorded bet ono month ago After pushing up a little during the tho first hour the tho list gave way under persistent selling and by 4 early afternoon losses of 2 to 5 If points joints were numerous The rails having already broken the average price irice of 20 Issues Issue to record lowest level sinco May 1928 moved still lower and a handful of In In- and utilities l below the tho bottom bottoni prices of a month ago Failure of tho 1110 copper producers to maintain their recent advance Inho In hi hithe ho the price of the tho metal to 12 cents offsetting favorable news from ment ment- offsetting news front from 3 ho the steel industry Bethlehem steel Electric Johns Nan IMan- yule Illinois Central St. St Louis Loula Southwestern New Haven Railroad International Harvester Eastman Kodak and American and Foreign Power sold oft off 2 to 5 points to new bottom prices U. U S. S Steel American Ameri can Can American Water Works j Consolidated Gas and Dupont were among Issues sagging 2 points or BO so REVIEWS OPTIMISTIC As Aj hail forecast the weekly J steel trade reviews sounded an anop- anop op optimistic note and th tho United States Steel corporation reported an in increase increase in- in crease In its unfilled orders during November of tons Iron Ages estimate indicated that steele steel i ingot production had sagged to 3 31 per cent of capacity against 39 30 last week but this was regarded a aa representing merely tile tho seasonal trend In fact American Metal Market said the tho decline In steel mill activity as reflecting general business recession ended at the tho close of October since when only seasonal influences have been felt Orders and production have de decreased decreased de- de creased since then and by the same token there will till bo Improvement after January l 1 probably Immediately lately after Dividend news included some somo bright spots Despite some rumors Jo to the tho contrary New York Central declared its regular quarterly payment pay pay- ment of 2 a share American Water WaterWorks WaterWorks Works discontinued Its policy of paying only 1 In cash and 5 percent per cent in stock annually and placed Its shares on a 3 annual cash toils tais with a quarterly disbursement ft of 75 cents Checker Cab however re reduced Its annual dividend bull basis from to RAIL ISSUES SOLD Fresh selling of the rail issues appeared to be partly In response to the report of freight car loadIngs loadIngs load load- Ings for the week ended November 29 which Included the Thanksgiving lug ing day holiday A loss from the previous week of cars however how hov- ever was less than the normal seasonal seasonal sea sea- decline for that week Declines De Dc- dines clines from the tho like weeks of 1329 1029 anti and 1928 nevertheless were 16 and 22 per cr cent respectively Tho rho lo chine from the tho like week of 1928 was close to the widest of What figures are arc flow available lead to the that the comparison compari son for the tho first week of December will be found to have been more favorable The drop in copper prices from 12 to 11 cents a pound seemed to Indicate that tho large producers had decided that their recent Jacking Jack ing up of the domestic price from 9 2 1 to 12 cent a pound had been too rapid Most of them have withdrawn with with- drawn from the tho market marlet entirelY entire pending better belter demand The weak ness in silver was another cheerless cheerless cheer cheer- less aspect of tilt the non ferrous metal situation Tho rho weekly p statistics showed another but nut hal cut in crude crudo gasoline stocks again S view MCW which was disappointing of the recent price heaviness Call was firm at 2 J per money intile In on no cent There Thero was where limited tile tho outside mar market funds were offered yesterday at atI I 1 2 1 per cent |
