Show I ISSUES F DECLINE t IN t QUIET ET TRADING ON MARTI MART SPECIALTIES SPECIAL TIES I 4 MAKE GAINS By nr ELMER IER C. C United Press Financial Editor NEW YORK Dec Dee 21 UP Lead UP-Lead- LeadIng Lead Lead- Ing Industrial Issues declined In a quiet stock market Monday while hUe special Issues nd nonferrous metal snares registered gains Railroad issues soft sort spots Saturday Saturday Saturday Satur Satur- day steadied on Abort covering Inthe in inthe inthe the early trading and then resumed their decline Losses were small Inthe in inthe inthe the rail stocks but ut large in railroad railroad rail rail- road bonds Leading steel atee issues declined but special issues in the group made gains and held them Utilities were mixed mercantile shares lower and motors weak Chemicals had wide declines Initial steadiness was considered normal in view of the probable over over- sale Saturday of the carrier canler shares Much of that selling was professional profession profession- al and was covered today Some of the Individual holders of the issues unloaded later and there was some switching into roads which would be little mUe affected by elimination of emergency freight surcharges which expire by interstate commerce commission com corn mission order ordet on December 31 Chrysler lost more than 2 points and General Motors more than a point Hudson was down fraction fraction- ally Auburn however registered a small advance Graham Paige was active all day at a small gain Rubber Rubber Rubber Rub Rub- ber shares were steady Automobile equipment issues were weak with Briggs Brigga Manufacturing of off nearly 2 pol points ts prices for copper abroad and for lead here helped the nonferrous nonferrous non non- ferrous metal shares Phelps Dodge Miami and Inspiration made new highs at gains ranging to more than thana a point St. St Joseph Lead at its high was up more than a point Advances of fractions to more than a point were made by American Smelting Anaconda Howo Howe Sound and U. U S. S Smelting Losses of ot 3 points or more mor were made by Allied Chemical and du Pont American Telephone was off oft 2 points at In the communication division Case lost 2 points on a few v sales in the farm shares In the mercantile mercantile mer mer- cantile canute division losses ranging to 2 points were noted in Sears Roebuck Roebuck Roe Roe- buck Lerner Stores and Montgomery ery cry Ward The last sold ex dividend and rights ex-rights today and touched 57 7 off oft 1 8 17 8 78 points Among the special issues to move higher highe against the trend were Underwood Underwood Un Un- derwood Elliott Fisher which made madea a new high at 8 3 up 4 8 3 Steel 24 up 4 Scott Paper 8 85 up 7 and a new high and Union Bag Paper 67 up 3 Smaller advances were made by American Can Mohawk wk Carpet I Stone W Webster and El EI Paso Natural Natural Natural Nat Nat- ural Gas Aside from the labor difficulties and rail freight rates there was little lit littie lit lit- tle tie in the news news to affect the market Business was preparing for a slowIng slowing slow- slow I Ing up for the holiday Not counting counting count count- ing the Christmas reductions in outI output output out out- I put the steel Industry would be operating op op- crating on th the same basis as last week week per cent the highest since April 22 1930 A year ago the steel rate was 49 per cent |