OCR Text |
Show BEARISH f LKE STILL BEING FELI ' i i Indications of Further Dull-1 ness Is Plainly Visible J in Wall Street. 1 i NEW YORK, Aug. V Almost tho dullest dull-est Week of the year came to an end with Indication of an extension of the beariaffi Influence which governed operations opera-tions to a considerable extent during that period. The indifferent crop outlook, labor la-bor problems, loral and national si cms of congestion In tho securities market were tliA primary factors. There was su-ady s-'llln? of motor, oil and supar shares, stock's of industries which have enjoyed enormous prosperity by jt a so u of the war, but which now promise to romo down to more normal and stable conditions. liquidation of motors doubtless was prompted by the cut In prices announced by the manufacturer of a popular car. Oils followed the inexorable law of supply sup-ply and demand, it being: evident that the enormous quantities of raw and refined oils had reached the slae of overproduction, overpro-duction, in the mtdeontlnental fields at least. Suijar shares fell away largely for the reason that dealings in the raw product', prod-uct', as well as securities of companies recently organized, had attained highly speculative proport ions. Munitions and equipments were fnlrly steady on further purchases of supplies by Europe, but in these issues increased caution was observed. United States Steel, commonly accepted as the barometer barom-eter of the market, hovered around its recent top quotations, and the issues of independent steel and iron companies pursued a liko course, trade developments develop-ments being altogether encouraging. |