Show I I I I I I I RIG BIG OFFERING OF STOCKS READILY Forced Sales Are Picked Up at Low Prices by S Strong Interests R. R Smoot Co Furnished by Dec Harold 1 Harld 11 Unquestionably NEW V EW YORK encouraged by there was reason to feel teel over Sunday I developments some orno of or the swept it opened swept stock market et as but the tho except the fact fac ever every consideration away more forced liquida liquidation that there wa was a lot that this must and tion to accomplish The formation of or the be bo ton S carried ried corporation through under 5 the trade Edge f u i credit fpm nt in in the foreign tr i. i v v f u i credit fpm nt in in the foreign tr i. i v v awas act to extend Important It was was obviously most solution I of or orthe toward a the first big step created by the tremendous tremendous tremendous tre tre- tre- tre the entire problem foreign exchanges exchanges ex ex- ex- ex entre In the shrinkage inability o of foreign the tho chan changes es and by buying American countries to continue they had e goods In a large way ability to borrow borrow borrow bor bor- reached tho tao end of their thIr banks In the grain row from American influence on markets this was a visible but In the stol stoIc stock Improvement tho the side of oC disregarded So too It was wasa market it was that no a matter mater of or great been paid to the attention should have statements results In the tho Saturday bank bak hopeful altogether the most This was made so far tar has been showing that along in the afternoon afternoon afternoon aft aft- It I was not until well wel was flood of or the that the first of or stormed at all The record arId and one-half one al hours was one of or an three of stocks on a a downpour uninterrupted hitherto seen than an any larger turnover breaks be between between between be- be not the tho wide open There was a panic day that accompany sales The Tho tween market especially for the tho railway not It could shares was very weak yet It I absolutely er demoralized when so called be cled taken individual st stocks were wore readily many fair showed so 50 and each fraction down at amount of resistance In view of oC the an of oC the tho railway shares snares were that most fact act down the entire amount of or their advance entre rate decision and that a large since number the of the minor tails rails rais were either cither ether tho the lowest close to or actually dO down to in o of oC the year there thero was no sense earnings as about S. S prospective tita decrease In tl M the 4 We explanation nl prospect e i of nt C th the break That I it was I I I tl M the 4 We explanation nl prospect e i of nt C th the break That I it was sacrifice selling at In the general genera r railway l list list was still further urther Indicated Indicted by the fact act that the standard shares on which therIs there ther is no insurance on the sufficiency of of of amount 0 or of earnings regardless any suffered quite as s depression business depressIon much as a the stocks of or the called so-called so-caled so wen weaker weak weak- er roads Against the stronger tendency in grain grIn and the steadiness of ot tho copper coper copper cop cop- market sugar prices priceR went to 10 a anew anew per er raw rw new ew low refined sugar was reduced again and cotton options broke heavily The market arket coton was the tile broadest In the history issues having hav hay of the stock exchange exchange jag ing been traded in during the day InA Despite Despie the exceedingly blue feeling in certain certIn quarters none 0 or of the market marlet experts experts ex ex- In his daily daiy market letter leter sent out before the opening today took the stand that accumulation of or stock was going on In spite spie of or all al the things thing are comIng coming corning com corn ing to public notice about the the situation throughout the country countr by those who knew these conditions to be bo inevitable and know them to be already partly party dis dis- counted The stocks thus accumulated says this man will wl be bo held through the next sixty days even should these adversities adversities ad ad- continue t ve There ees v was hardly iy a man in Wall Wan street toa today who did not that that stocks were on the bargain bargin counter but that it took courage to buy them them A partner in one of or the big Broadway wire said In a a time like this when real values do not count there is nothing to say as asto asto a to particular stocks with certainty or sat The woods are ae full tuU of bargains barins Globe Selling of securities for the purpose of raising money to meet December 1 15 tax LX payments has been very ver much greater geater during the past few days than was at first firt realized Today Is the last lust day such selling selling selIn sell sell- sel- sel In ing can be bo executed in the regular way that is the tIle sale yesterday and the funds to be received today toay so that checks can cn be drawn against the cash After today such sales will wi have to be made mae for cash cah which generally means the sacrifice on the part of the seller seler Last week it I was I believed that the nearness nearess o of the tax tx date dispelled the theory theor that such selling 1 would be bo heavy this year Such however at the banks and as a would be natural such luch borrowings were delayed until the last moment Now however It appears that the banks are unwilling to lend funds on securities for or tax purposes The consequence consequence consequence con con- sequence is the heavy liquidation witnessed witnessed witnessed wit wit- Saturday and again agin during the forenoon yesterday yesterday Post WALL U I. STREET NEW NE YORK Dec 14 An H.-An An uncertain tone tono was shown bown by the stock market at the tie active ac ac- ac- ac tive opening of today's session but gains exceeded d declines The rhe oil 01 group which constituted the w weakest akes feature of the pre day registered early ealy gains of 1 to 2 Vt points point oy ny Mexican Petroleum Royal Dutch and Shell Shel Transport Rails Rals were taly better beler although a train gain of 1 11 points In North Northern rn Pacific was offset by the heaviness ness neu of Union Pacific and Missouri Pacific preferred another recent ele ele- dc- dc ment of weakness hardened on a a. rise of 2 2 points for United Fruit and ste steels ls and equipments also als came forward Crucible ga gaining 2 points n Dealings n In the e first frt hour were almost as I large an as a the heavy turnover of the previous a day but most offerings were freely frely absorbed ab ab- ab- ab I Contrary to expectations there was virtually ly no nn cash selling Soft RoC spots were vere ere represented by motor specialties minor tee steels Is coppers Roebuck Sears and Peoples People Gas Can at rece recessions lons of 1 to 8 1 points point Oils to feature the Ois general rally at extreme ex ex ex- gains of 2 to S 5 points and equipments and rails rais of the tho better beter class chus also ma made e further upward progress progress Central of New Jersey recovered d a large largo part of yes yesterdays yesterday's yes yes- es fifteen point los loss The market eaR eased d moderately before noon nonn but in the main the tone remained ed firm Call Cal monr money opened at 7 per cent Shorts Shorb covered more urgently at midday oils equipments ois and rails rais enhancing enhancing en en- en their gains Extreme advances of 2 to 7 points were made mado by Mexican and Pan American Petroleum Royal Dutch United Fruit Atlantic GUI Gulf Baldwin Loco Loco- motive Bethlehem Lackawanna and Republic Re Re- public steels and the tho representative Pacific and grangers toP Coppers Copper U eased again later latet on reports of or another cut In the another price of or the Elso- Elso metal where however the thc trend was still upward subject ct to profit taking The close close- log was strong I but Trading In stocks was Wa active and I a marked change for o the better beter I shown hown by all but beter wa was a few al Sales speculative issues I approximated shares shares |