| Show I 1 L Mig Mining Quotations J 1 Mining Financial S and Commercial News Today's Market Prices cel j I 1 r. r MA KE I MOUE MODERATELY LOWER Drifts Uncertainly as Developments Developments Developments Devel Devel- of Money Conference Conference Conference Con Con- ference Awaited By Dr Associated rm Iru NEW YORK July 13 ThC P The curb market closed coe with wit moderate net lo losses e today Declines of at the early eal trading taing which saw the te lowest lowet prices o of the s session lon were reduced during durig a apro period of or marked dullness Electric pro Bond nd Share was of off a a pint point on tha U da day Losses es In numerous other favorites favor favor- lies ites were fractional Net declines In m most t o of the prominent neat nent lent issues issue ranged from fractions to 2 with closing about points wit many may unchanged pint Although some shares were t traded ed during the first fist half hal hour the total turnover there after was WM only about a a million snares shares The foreign exchange market was I virtually demoralized by the turn tur taken ta ken b by the German situation and German Germa bonds made sweeping d de dines clines Leading Lain commodities broke rather sharply early but closed s earl cos somewhat above ave the lowest CHANGES UNIMPORTANT Such stocks as a General Electric General Motors Radio duPont American Telephone and ad Consoli Consolidated dated date Gas Ga showed showe unimportant changes canges at the finish U. U S. S Steel after opening 3 2 lower closed cosed one point down Miscellaneous Issues pint Included included In in- finishing a a point or two lower North American America Southern Souther Pacific Pa Pa- New York Cental Central Goodyear Allied Aled Chemical and Westinghouse Atch Atchison on dropped 4 and made mae but partial recovery recover Auburn Aubur regained much of an extreme lo loss los of nearly 9 The Te week end news that the Darm- Darm Dan and and Und National bank bak one of Germanys Germany's Germas four largest had been forced fored to t suspend was 8 discouraging to Wall Wal street where it had ha been understood un Un- derst that the difficulties o of this thi Institution rumored for some time were being taken taen care cre of In Wall Vall Wal street all al eyes rested upon Basel ael where It U was wa hoped hope that a a plan would be evolved at the conference held at the World bank for an tin 1 mediate credit to the sufficient to restore confidence Wall Wallstreet Wallstreet Wal street has ha h had d fears tears o of a a radical uprising uprising up up- up rising in i Germany German ever since the gains gain by the national socialist and ad communist parties parte in last lat autumns autumn's elections and has hM little doubt that the leaders of ot these organizations are arc using the present situation to t stir sti up the German public Private bankers ers were prepared to participate in an International loan but bc because becane e o of the delicate international political aspects of the problem lem were awaiting upon the initiative initia iia tive of the federal reserve which in i turn tur and for the same caine ae reason awaited await ed upon l the negotiations at Basel Bael Not only the German Gena mark mak was sharply depressed In the te foreign exchange ex cx- x change markets market but ut quotations on such currencies as the pound poud sterling and the French Fench franc were substantially substantially lower I Exchange traders complained that the te situation was wa so s confusing that It was extremely difficult to trans transact transact tras I act business busine The Te German Geru mark I closing cosing last week at 2370 cents for I cables cable was wa rumored to have have been quoted as a low as a 16 and a 18 cents Most quotations after an a excited opening however were around 22 I cen cents ts Domestic news was v largely ignored In the excitement over o the foreign situation The week week end end decision of Oklahoma independent oil oU producers to shut down their wells well pending the return of more normal noral prices had ha a steadying effect upon the oil 01 shares shae which were fairly well wel taken The announcement that the Interstate interstate inter Inter- state date commerce commission had ha placed laced a valuation upon the railroads about abut three billion bUlon dollars higher than In 1921 for the hearIng hearing hear hear- ing the railroads railroads' plea for an increase In jn freight rates rates had ha little market maket effect The money market maket was wa about abut stationary sta with wih call c money officially at atH 1 H per pr cent but offered outside at 1 |
