Show WEEK SEES lIST lIST- YIELD fIELD TO BEARS Business News Favorable Hut Thit Rails and anti Steels Decline N NEW W YORK TORK Jan Week IC-Week- JC Week Week- Weekly Iy ly Financial Re lew By By The Aa d clate-d Stok Press Stock prices worked d to lower le e levels this week under unde-r the tho persistent pe hammering I of bear traders Operators for forthe forthe the rise made several unsuccessful unsuccessful unsuccessful ful alt atteMpts to rally the list by bidding up a a selected sele list of ot r raIls Industrials and specialties but they failed sited to attract n a public following follo The action of the market ac- ac accompanIed ac accompanied companied by several stock split split- ups ups bps and nd Increased aed dividends the question as to whether the th period of distribution by bi large holders had begun Com Com- Coni- Coni Commission mission house o comment nt was di- di di dl divided vided as ILS to the future course o prices In many cae cases c I to take profits on the s rallies be- be beIng Ine bc-Ine lug Ing accompanied d by warnings against short selling se A Business and financial news was favora favorable le Call money y ruled zd around 4 t per cent but funds were available below that figure In the mar mar- markt market kt ket Higher r dividends were vere an- an announced announced an announced on the common stocks ot of the Woolworth and Continental Can companies while per percent percent cent stock dividends were de- de de declared dared by Nash ash Motors and the Central States Electric corpora corpora- corporation tion Ion Steel mill operations continued d at fi gs relatively ly high rate rale but Jut the market tiled filed d 0 to respond to the unexpectedly large Increase In Inthe Inthe the tho unfilled orders of o tit the United S States ates Steel Sted corporation The an- an an announcement that the annual stock offer SubScrIption llon ott r to would be at 1 6 I d a share was followed tl t tio tho io 0 days daYI latet by a de- de decline de decline cline dine of the stock to 1324 Last year ear the stock Hock sagged about 10 points below tho th tb offering price bt Of atler after the announce announce- announcement ment was ws 11 made but subsequent subsequent- subsequently 11 ly 11 sold nearly n 15 points higher Oils were alo In to reports of ot another r decrease In crude productIon Th The uncertainty uncertainty uncertainty over oer the effect of ot the bin Mci- lean ilex lean Ican petroleum pe legislation le had a restraining Influence on the trad Irad- trading tad ing In these theae Issues The first formal step In the lild ild Oil ll was wae taken Monday when the corporatIon acquired tho the common stock of the Waite company and solda sold L a bond Issue to pay for the tho same JL J 1 In InThe The fact that car loadings In Inthe inthe the first firt week of fell below those of the tame same week last lut week probably some selling of or the railroad shares Hard c cd coal l carriers also aleo showed d a tendency to he- he heaviness following the thO th of the nn- nn en un conference Some of ot the southwestern Issues developed de In- In Independent Independent In Independent dependent strength on and dividend rumors I Public utilities were wert heavily bought on reports of at new com corn combination combination Increased and capital stock ups split Among the specialties which moved up on special buying were company American AgrIcultural Chemical preferred Texas Pa- Pa PacIfic Pa Pacific Land Trust Nash Motors and General Electric the tue last lut named touching a new record I hIgh and then the reacting sharply I Ion on profit taking |