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Show i HiiiyMwket Report IS NEW YORK, Jan. 8 The policy of , X, the federal reserve board respecting : loans for speculative purposes was - again a deterrent influence at th i sluggish opening of today's stock mar-j mar-j ket. Metal and food shares were: the only issues to show a degree of firmness, firm-ness, the usual leaders, especially oils and motors, displaying moderate heav-: heav-: - iness. Rails were almost entirely no- glected and high clnss industrials recorded re-corded fractional declines. The only noteworthy changes dur- ; ing the dull morning were among obscure ob-scure specialties of stocks in which an extensive short interest is said to exist. Foremost among these, at gains 5 of 1 to 3 points, were Gulf Slates Steel, Baldwin Locomotive, American 1 International, American Tobacco Se-I Se-I cunties and Columbia Gas. United I- States Steel was well supported but I oils, Mexican Fetroleum excepted, re- mained under pressure United States Rubber gave no hint of extra dividend action at today's meeting of the directors di-rectors and American Woolen vas comparatively heavy. The six per cent opening rate for call loans failed to stimulate trading at noon. Specialties and minor metals featured featur-ed the final hour, the increased demand de-mand for silver bullion contributing to the strength of the latter group. The closing was Irregular. Prospective credit restrictions and the absence of public interest continued contin-ued to exert restrictive influences over the stock market today. Sales approximated S50.000 shares. |