Show PRICE OF STEEl MAY BE lOWERED O Going on Among I Officials Which Are Likely to tor toI r I Result in Something SELLING SELLING IN WALL STREET DEMAND SMALL AND A DOWN DOWNWARD DOWNWARD DOWNWARD WARD MOVEMENT BEGUN New ew York Feb 18 The stagnation that prevailed in the stock market was wa changed today Into an active selling move movement movement movement ment without any counterbalancing de inand to meet It A t severe severo Inroad on prices was the consequence The whole market hinged on the development in the steel trade While no formal announce announcement announcement announcement ment was made during the session of the stock tock exchange it was generally known that conference conferE were point going on among of officials of ot the tha United Stated Steel Stee corpor corporation corporation atton which were likely Ukel to issue changes Tn rn n the schedule of ot prices which had been firmly held by the corporation The Tue no notable notable notable table effect on sentiment produced by this development owed its ILs depth to its Ith abrupt reversal from the supposed determination Bf r f the corporation to o hold ts former pol policy icy ly Reports that independent steel stel corn com companies cm anies were making making concessions and were wore getting Betting what business was going on were Jnet t by b deprecatory comments on the smal email proportions of ot such business as R t f 0 the capacity of ot the trade trae at large and Its Is Jack ack ck of ot significance as a n reflection of trade conditions A different view of the tle Situation seems to have haYa been ben adopted i Isome some lome time yesterday The Te stock market promptly prompt took tok up the tho burden of at this reversal of policy and be bo bojan i Ian jan an to an expected cut in steel stee prices The position was complicated by bythe bythe I the fact fat that tho the market prices priem pric of or the tock of at the United States Steel corpora corporation corpor lion tion ton had be b hen n held bj by main force as well wel as aa by the prices price of Its Is product Since the I Immon common stock stok stok was wa allotted to the corpora corporations coror employs at GO Z there has been wide widespread wide I spread assumption that adequate support I be given the market to prevent the I price falling gen below that point pint The ac nc action anTIOn tion Ton of oC the th stock discouraged d bears bean selling seln and prompted covering of shorts as Ri often otten as that account grow gW to anything like un proportions The belief belet that the position so 80 long long maintained by the lead leading lug ing steel Interests Inte was wa about abut to be aban abandoned coned one undermined the whole market It I was supplemented as a I factor by the fears that the state of E E II H I Harmans health heth was was not such as a to enable him to carry c carr Cut ut the projects that have been ben a main incentive to speculation on the part of a 1 large targe element element This feeling seemed to It rave an taken hold of foreign markets markets as aswell a well pI as this and London sent selling Felling orders at UI U th Harriman stocks to New York for forr r t I It Tt was wa a notable not l fa fat I at the te same lamE time timet t tat other stocks stock Involved in Mr Harri I supposed plans rians were among those j showed SOl degren of ff resistance to the prevailing depression There Tere was wasa wa a a show sho of firmness also a o among the te cop copper copper i iper per mining and refining shares in spite spie I of a further furher marking down in the price of topper rapper metal m in i New York and London I The Te progress of o 0 the dispute over oe freight I differences difference between Boston and ad seaboard trunk line lne terminals terminal to the south had I Isome some disturbing effect effet I Additional gold engagements for ship shipment ship mont ment to South America Americ had no Influence I Ion on the money market on call cal loan rates I snowing showing sho ing some Increased ease ese The en entente entente tente of the decline Invited some large lare buying around arUnd the low how 10 levels by b the bears I in the taking of ot their profits on the thc short shor I Iside side This rallied prices and considerably I reduced the tho extreme declines delnes but the course coure of the market was w downward again at the close I Bonds cose were easy eay Total sales par pa val vai value va ue United States bonds were un unchanged unchanged Unchanged changed on call cal Stock Quotations Sales Baes High J Low Lw Chose CoS AmaL Copper 4 7 74 73 7 73 Amer C F 60 50 4 4 i i 4 i 6 Preferred lOt 10 10 1 0 11 Amer Cot Cot Oil 01 80 O KM 52 fc 52 5 l Amer II n L I 1600 10 41 U 4 40 40 t Amer Ice Sec S Se J 23 21 4 Amer Linseed 13 Amer omer Loco Lo 2500 S A 5 Sl 12 1 4 Preferred u 12 1 Amr Amir S R S 56 SIH Si 85 S S Preferred 2 10 IOn 0 Amer S Ref Ret ISO 10 1 Amer lob ob o 91 I IAmer Amer Woolen i 2 2 23 1 Ana Ana Min Mm In Co 1700 4 44 44 4 4 I Atchison 6 1011 I Preferred lOn lOITi 1 Atlantic C Line 4 1 lS lS I Baltimore 0 86 10 1904 l IOS O Preferred 70 5 3 93 9 9 i Brook Brok R T O 71 i jO Canadian Pac Pc 1734 If l 17 li 1 4 Cent Leather Lather 70 70 31 SOU J 3 Preferred lri 10 10 10 10 Cent Cent of N X J 10 S Ches Ohio 6 67 65 6 65 61 Chi Gt Gt West 0 7 fl 7 i Chi Ci 70 00 19 1773 17 C M L St P 8 i 1 C C C St St L 0 76 7 76 6 76 78 Cole Colo Clo F Iron 38 3 3 3 Colo Cob South 2200 2 63 w G 61 4 2 62 6 6 1st preferred 0 s 3 S S 8 d preferred r 00 78 S 78 78 1 Con Gas 2400 40 1214 1 1 3 1 4 Corn Com Products Product 1 19 ISi 18 lS Del Dl Hudson SOO S 1 i 1754 l lD D R B n G 1000 4 44 1 45 43 4 Preferred 1700 s m ST 87 67 8 Die Ds Sec O M Z ZErie Erie EIe b 0 SOU 0 3 Z 1st let preferred 6 0 X 46 48 45 43 43 45 d preferred CO SH i 1 35 33 3 Gen Electric 1400 U 14 1 GL Gt North pfd pM 10 l 12 HZ I Ido do Ore 1300 1 71 ii 7 70 jO 4 70 Illinois Cent 10 11 1 Inter Met et I 43 32 i 42 42 1 Inter Paper 11 1 1 11 11 II 1 I Preferred 53 Inter Inte Pump M 37 3 37 3 I Iowa Central 0 30 3 SO 30 29 K K C South 2400 2411 40 42 2 40 40 O I Preferred 3 0 72 71 71 7 Louis Luis Nash 12 l 12 I Minn St L 3 58 6 6 54 5 51 M lr S P S S S1 M MO 0 ln 13 HO 1 Missouri Missour Pacific 40 71 7 70 70 7 l lr M r K IC K T 8 42 41 41 41 Preferred 0 73 m 73 7 73 1 National Lead Lad 2600 2300 r 79 Y TSi 78 76 I N Y Central 18 1 N Y O 0 W 2700 70 46 4 4 46 Norfolk West Wet 2700 O 0 0 SS S SI I North Amer 1200 12 SI Sl SO S SO S 0 I North Norh Pan Pac Pat 1403 1 1381 13 Pacific Mail lal 22 32 3 31 3 32 Pennsylvania m l Peoples Gas 45 5 n 11 P OC cc cC St SL L 2 0 90 9 00 4 90 O Pressed Presed Steel ear Car j 5 40 37 3 53 3 PulL Pal Pal ar r 10 17 Ry Ri R Steel v 1 46 6 45 4 43 40 Reading i 1 1 1 1 Republic Steel 40 21 23 2 23 Preferred 70 85 65 8 84 81 SI Rock flock Island 4 24 23 2 l 23 Preferred 64 61 62 St L 1 S P F Fat 39 23 St at L 1 I lo 23 23 22 Preferred 10 5 52 52 32 i 52 32 5 Sloss S S f I 1 5 77 7 77 77 77 7 Southern Pan Pac Pac 1 ln 11 Preferred 1200 L 12 12 11 Southern Ry fly 1200 12 25 2 21 23 23 Preferred 2400 O 63 6 63 G 63 67 Tenn Copper 9 00 40 29 30 h Texas Pac Pan 34 33 23 W T St St L L W EM t O 47 4 47 47 1 47 s Preferred Petered 20 o 60 6 69 6 63 G i Union Pacific 17 1 1771 lT Preferred ft G 33 93 9 93 3 U u S Rubber 6 31 n 31 11 31 1st preferred lOt 1 4 MW lo UR U S S Steel 51 l 1 4 49 40 i 49 Preferred 5 git 13 u l Utah Uth Copper aw r W is 42 41 m Vir VII Car Chem Cher Ie 46 i 45 43 4 45 43 Preferred m 11 Wabash h m 4 S i js 16 4 lS 16 Preferred IC coo 0 45 49 West Klec Elec Ele 1100 82 60 SO 6 SOu 8 West Vest Union 65 5 1 Wheel Wheel L L I E 3 91 94 9 Wis Central 1700 10 42 41 Amer A mer T T 2900 0 0 1 1254 l 12 1 4 Total Tota sales ales for fol the tl day s shares |