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Show CONTRACTION OF DEALINGS NOTED IN STOCK MARKET Trend of General List Is Downward, While Volume Vol-ume of Business Is Somewhat Restricted. NEW YORK, Oct. 20. The trend of today's stock market was downward in the main on ;i pronounced contraction of dealings, both as to volume of trading and number of issues traded in. Various reasons were assigned for the cliange from the activity of the previous session, chief of which were the further calling of bank loans and uncertainty regarding re-garding the dividend on United States Steel, which proved well founded. Steel was under the closest scrutiny for some hint of the action of the directors, direc-tors, i ts early heav i ness con t ributing largelv to the backwardness of the general gen-eral list. The stock closed at 108, a loss of half a point, after recording an extreme ex-treme reversal of 1 points. Announcement of the cut In the steel "extra" dividend from ?, to 2 per cent was not made known until after the close of the market, when the quarterly report, showing earnings some eight millions un der the previous quarter, was also issued. is-sued. Foremost among the heavy stocks was Mexican Petroleum, which justified its reputation as the most volatile of issues by another break of 18 points, none ot which was recovered. It is understood that officials of the stock exchange contemplate con-template action to check undue activity in that stock. Other oils, tobaccos, equipments and specialties were included among the reactionary re-actionary issues at declines of 2 to ' points, but rails, while irregular, developed de-veloped no marked heaviness, being sustained sus-tained by further accumulation of Southern South-ern Pacific coalers. Shippings and metals were relativelv firm, with moderate reactions re-actions at the end. Sales amounted to 550,000 shares. Bonds were irregular, Liberty issues showing general firmness on Increased activity; Total, sales (par value) aggregated aggre-gated ?7,575.000. Old United States bonds were un-chaned un-chaned on call. |