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Show WALL STREET DISCOURAGED i OVER NEW DEVELOPMENTS Values Crumble in tlie Stock Market; Rails Touch Lowest Range in Current j Period. ! ! N EW YORK, Pec. 12. The further j rrmnbh.ny Ci' alics In The slO' U market : toca.v v. ere again traceable to ob Ion? ' causes, foreign a rid domestic develop-j develop-j men's inte:;.5if ing the general fee'ing or j d'lS'-t'iir.-'.gc-mut. CLtmclatKc evidence j thai tiiC l-'o . cni mem puimoses takrng lover tiie rai'rca'ls under conditions not i previou-dv :ti kincd with and a news ; ti.'kcr u !.--r..i t -ii ; 1 otn Was! hue ton nuot-'iig nuot-'iig an eminent military authority as leasing that all private munition plants 1 should be placed umler direct federal con-, con-, trtil cor. t ribu f.el niCiifturably to tiie v. ide- spread reversal. ; Hails, including many issues for yea i s j classed among those icldi ng subs taut ial j dividend returns, lei! 2 to 4 points with scarcely a note wort by ex ept ion touching touch-ing their lowest range in tlie current I period of linn idation. In some instances I today's minimum established new recopls for a decade and even a reiieratioo. United States Steel's uninterrupted decline de-cline of 3-"'s to Sl represented a new low for tin year and an extreme reversal rever-sal or 55 points from its maximum of I the mid-year. 1'ra.t tically e,eT-' grade of stock in the indust rial, shipping ami ail led ciiv isinns succumbed to the presure directed gainst the leaders. ' .-bow ing recessions of 2 to 5 puints. Operations embraced a wide area, the movement bringing out many dormant issues. Sales. TSO.OOif shares. Coreign flota cions again featured the weak bom;) market, Angio-FYem'h 5s and Paris 6s, as well as French municipals recording greater depreciation with the Russian 5 '; s on the "curb." Liberty 4a ranged from !'7.26 to 97.16 and the 'Ss from 9S.4S to 9S.D6. Total sales, par value. $5. 360. 000. Old United States 1 -onds were unchanged on call. |