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Show STOCK MARKET SUFFERS DROP NEW YORK, Jan. 26 . (L'.Rl More than a billion dollars in paper values evaporated from the stock market today in the most severe decline since November 22, 1937. The Dow-Jones combined average aver-age of 70 stocks sank to a new low for the year at 40.18 off 1.73 at noon. At that time, the railroad average was down 1.11 at 28.83, a new low since 1935; and Utility, 19.77, off 0.69 and a new low for the year. The industrial in-dustrial average sank 5.64 to 122.69 and was only about two points above its low for the year. Transactions to noon amounted amount-ed to 1,070,000 shares or just about the amount of all transactions transac-tions done in the Monday and Tuesday sessions combined. General Motors with a $2 a share loss showed a depreciation on the basis of all listed shares of $87,000,000. Du Pont with a loss of $4.50 a share shrank in value by $49,662,000; U. S. Steel with a $3.37 'j loss, shrank $29,-372,625, $29,-372,625, and Standard of New Jersey with a $2.25 a share loss, shrank $59,006,250. Loss of $6 a share or more were made by Allied Chemical, J. I. Case, and several inactive issues. |