OCR Text |
Show SLIGHT REACTION RECORDED IN GENERAL SECURITY LIST i Impending Holiday, With Its Industrial Uncertainties Uncer-tainties and Discouraging Cables, Causes Moderate Setback. . SCETV TO UK. Kor. 26. The impending holiday, holi-day, with its industrial uncertainties and the disourasine tone of cables and other adYlCea bearing uixm the foreign financial situation, COxablned to give today's stock market a general gen-eral though relatively moderate setback. Other developnionfs also played their several parts in the reaction, the Mexican situation and reports of unsatisfactory wh?nt conditions in the middle west finding reflection in the heaviness of lending oils and railway shares. The shorts were not slow to avail themselves them-selves of these conditions, their activities being rendered the more successful because of the sharp rebound made in th? early days of the week by many speculative Issues. Money anil foreign exchange were not materially mate-rially altered, call loans ruling at seven per cent most of the day, while remittances "to London and continental Europe moved within contracted limits on lighter offering. Condi i ions in the steel and iron trade at tracted wider attention because of the statements state-ments of author! ties that finished products promise to become very scarce in consequence of the greatly reduced output. Steels and affiliated shares were beary, when not weak, and coppers were tubJocted fo constant con-stant pressure as a result of rumors affectiug their dividend status and another cut in the price of the refined metals. General Motors, Pierce -Arrow. Crucible, Mexican Mex-ican and Pan-American Petroleum. Texas Company, Com-pany, United Krult, Bndlco'tt Jobnson, American Ameri-can Tobacco and Worthing Pump represented the chief elements of weakness at extreme reaction reac-tion of five to almost fifteen points. Sales omounied to 1.200,000 shares. Trading in bonds was again very extensive, heaviness j of Liberty issues, local tractions and conver- ! tlble rails being the chief features. Total I sales (par value) S27.2oO.000. Old United States i bonds were unchanged on call. |