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Show 'INDUSTRIAL PROBLEMS ARl I REFLECTED BT SECURITIES; i Developments in Labor Situation Are Leading-Influences Leading-Influences Noted in Stock Quotations ' for the Day. j i NEW YORK. A-ip. 27. Siu-h consi-Watlons as ustiiilly govern the course of the stock ni:ir-ket ni:ir-ket were ignored or swepc uiiie to.biy in the iiK-rensi'il iniporliuu-e v h it'll ftttacliL-d to de-vck-pineiu in the labor situation. Rejection by the ruilroad cliopnien of Prosi- j dt nt Wilson's riff-r and the reliisal l (. hairman tiary of the I'nited States Steel corivjratlon to 'discuss busines" with a committee oC organ-17-ed labor were tlie outatandint influences of 1 the day. On the other hand, the Iron Aire, the rec- ojriiized or era n of the steel industry, asserted that "nothing in the events of the week changed the Judgment of the steel trade, that the strength of the stock movement has been greatly overestimated. " Si of ks were heavy nt the outset, but rallied in the course of the first hour, only to fall back ul most Immediately with another recovery before noon on renewed buying of equipments and specialties. The market became unsettled again in the Inst hour on Judsro Gary's letter to the union Inbor delegation, United States Steel nr.d other : lenders, equipments, then recording lowest quo- j tati'ms of the day. Ite net ions from maximums . j ranged from 1 to almost 4 points. The one obvious case of caue and effect was , furnished by Montana Power, w hich made an , abrupt decline of 9 points on the reduction ot the quarterly dividend from l'i to " of 1 per j cent , due to "uusa t if. factory business, " ; ("handler motors forfeited its 10 -point gain j of the previous day and an additional '2., d : rails were udversely affected on moderate of- i ferings with shippings, motors and oils. Sales unuumted to 7:).(,00 shares. In (jenenil the bond market kept pnee with ; stocks, specula ti vo issues d eel in lug 1 to 1 1 j points. Liberty bonds were irregular and in- 1 ternationa Is st eady. Tot:i I s:i les y p:i r value) j aggregated S12.77S.0oHt. Old United States reg- I isteri'd 4s fell one-quarter on sales;, others tin- changed. |