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Contraction Securities Further Experience
WHEAT SCORES SHARP UPTURN
Motor City Round Table By J. D. M. WHITE
ENERAL MOTORS not only G Early Handicaps Are led in activity but was one of the few moderately firm issues in an Overcome by Bulls easier market on the Detroit Stock Exchange Friday. Other popular motor issues shared secondary honors in Chrysler, Gravorcing itself from the influence ham Murray and Packard of the New York Stock Market, changing hands in amounts of wheat scored brisk advance late 1,200 1,500 The bank today. Authoritative estimates that group stocks also came out on the domestic winter wheat acreage had good been reduced to Total sales for the day were the smallest total since 1913, and that the probable Motors hit and production would be 459,000,000 closed up after selling bushels compared with 775,000,000 down Nearly 2,000 shares the stock changed Reo this season, had notably stimuMotor and Warner Aircraft also Inting effect. There was also an scored small fractional gains, apparent renewal of prospects for Detroit Bankers dropped new some wheat export business from at and closed off country. under an exchange of about Wheat firm at almost the 1,300 shares and Mesta was off day's top point, higher point hit new than finish, corn vary- and off half at 19 and lesser ing from %c decline to shade addeclines were registered vance, up, and provisions to 12 cents down. in about dozen other stocks.
Early Rallies Fail
At first, the grain pits were dominated downturns in securities New York and by declines wheat quotations Rallies from early setbacks wheat values were frequent. but for while failed hold well in the face of reports that Argentina and Australia shipping more freely and that Argentine stocks wheat increasing Another handicap to Bulls was word that the main wheat regions Australia had not affected by recent heavy rains. was this stage that trade attention focused on regarding domestic winter wheat crop specialist issued estimating seeded area totaling acres, curtailment per cent from last year. The erop condition was put at 80.8 per against 10-year average In the subsequent dealings, wheat showed an increasingly uptrend, helped by indications that United States hard winter wheat about exoffers of Argentine grain. Significance also was attached advices buying Canadian at had amounted the last few days to $,000,000
Corn, Oats Recover
Weak early, corn and oats later recovered, the upturn wheat being largely responsible. Corn receipts extremely meager the West and weather conditions were unfavorable for crop movement. Provisions lacked support. Closing indemnities: Wheat March, offers: May,
DETROIT GRAIN
Michigan Bean Market for
New York YORK
Other Points
EAVY INCREASES in the production schedule at the Budd Wheel Co. plant have resulted from popularity of the new all-steel artillery type of wheel the Budd Co. is supplying to leadmanufacturer. This wheel, an ing of the Budd concern, is said to be the first improvement in wheel design since perfection the and its sudden has been partly attributed to its style appeal to women.
RODUCTION on Lycoming's new 12-cylinder passenger car engine, under development for the last eighteen months, will begin at Williamsport, Pa., on Dec. 14, officials of the Lycoming Manufacturing Co., division of the Cord Corp., Friday. Cost of machinery than Production calls for 400 of these 12-cylinder engines by Jan. which time production will stepped up to 1,600 monthly. Indications are that engine is for Auburn also vision of the Cord Corp.
EARS were expressed in quarters Friday, says Dow Jones & Co., that the decrease the Nation's monetary circulation reported Thursday night might have due failure normal seasonal improvement to develop. rather than funds, but any in this respect by the cheerful character of the weekly mercantile matter of fact, the stimulus the approaching holidays been pronounced that many cities the of tail department to ahead In various cities business greater activity than usual, due reductions that have made prices more closely reflect retail weather over wide area has stimulated retail particularly heavy dry goods. Another helpfactor has been the unusual made by retailers determination reduce ventories at the close of the year.
UNITED BUSINESS Thermometer records business at 34.3 per cent below normal for the week ending Dec. practically the the previous week which cent normal seems be time at this low level, from which expected the United Business
CO. will start production of 500 daily on Monday and hopes to continue that schedule six days parts makers can fill the company's according to reports from Heavy proof the new model has been delayed due failure of the comget About men will Monday present force, has working four and five days the new startweek ago. Stocks in dealers hands low.
HUPMOBILE Motor Corp plant at Fostoria, O., which makes crankshafts for Hupmobile, production to crankshafts daily and of other in schedules.
DEISEL Gilbert cigar factory has increased duction to 120,000 cigars daily 90,000 of an order for according to vices from Findlay, O.
MICHIGAN State Bank Eaton Rapids, one of the oldest banking institutions in that closed its doors Friday Glenn said the bank was depositors. Banking Lansing was there had the gradual withdrawal of The bank's statement of Sept. deposits of since time. assets of the same bank for business Friday but closed its doors before placed the hands the State of other being the Bank State Bank in 1894.
REDICTION that Airway ElecAppliance Corp. may show small profit for the last quarter Friday by President Pratt
