Show BRISK DEMAND FOR SPECIALS Trade Developments Bear Bear- Bearish Bearish ish Support for Steel Ai Aids s Market NE NEW YORK Dec 29 By 29 Tile A rhe Preas Press Tho reaction reaction- reactionary ary price movement In the stock market which has hos been under way oy since Monday onda afternoon showed ed signs of petering out late laic toilY when a brisk demand developed for tor United States Steel common General Motors Macland Oil and anI several Cral specialties There was nothing nothing- In the tho days day's news to cx- cx ex cx explain plain the sudden change of speculative latin sentiment although some of the tho buln buying probably was Influenced by commission houses S whIch urged the purchase of ot stocks tocks on the theory th-t th the main purpose e ot of the recent selling name namely to correct a temporarily over bought over position las has been achieved ed TRADE lU In u Trade Developments were we large lars largely largely ly Iy bearIsh In character carloads e fer the week ended December 18 showed a decrease compared d with the corresponding week last year ear and Hie steel reviews showed that the tho production curve In the steel industry was downward as liS nn an upward tendency towards tho While Whilo relative relative- relatively doso of oC last t year ear ly Iy inn firm motley rate rates and I he larger of oC brokers loans also use t caused some uneasiness une there was wasa wasa wasa a a feeling Cee In some quarters quartel's that a reduction in ill the rediscount rate of the New v York federal reserve bank was still a possibility aCter the turn of or tho year ear or of a bearish be stork stock market bt b a large investment nt house and unconfIrmed tumors rumors of ot a a change hanc for the worse in Itt the Mexican sl- sl sl 1 nation also were used as can cam campaign material by speculators for tor forthe the decline ce Oil 01 fi Ht IOnS heavy buying of ot Marland arland and Union Oil of ot California was liS- liS liSso as associated The so elated with merger rumors stron strong buying support ug ugin In steel and General Motors led Id I to active nethe covering eo in oilier see see- lions lons of oC the list Many of oC the early carly losses of ot one to ti c five fire points were reduced re-duci-d or wiped out before the end of the fourth hour lour The fhe closing was stead steady new favorites wore were chosen to speedup up the tho afternoon rise which was rated accelerated by short covering when It became evident that the recent bad set back la 1 brought Issues down downto downto downto of oC man many priced high to a attractive attractive buying levels Un- Un Uni Universal versal Pipe Pips United States east Iron Pipe Pullman and Cot Com Commercial mercial Solvents B advanced three to 4 41 Points point Total sales approxImated approxImated approximated shares I |