Salt Lake Telegram | 1928-01-18 | Page 13 | Wall Street's Close is Heavy

Wall Streets Street's Close Is Heavy A Markets at a Glance NEW V E YORK Stocks heavy n standard re rails rail rUs de te- te cline chine Bond Quiet Continental Continental Conti Conti- scribed Gas and aDd Electric 5 o erub Foreign l exchanges Mixed Mixed Swedish Swed Sired lab ish Ih kroner decline Cotton cotton Barely Barely t steady adT A Wal Vail Vahl street selling seIn Sugar Steady Steady s Cuban support lag Cor Coffee Lower Coffee Lon Ler er New Nets ew Orleans sell sell- tel tel- CHICAGO ChIC AGO Barel steady rains parts of Southwest Corn Com EasT Easy larger country offering offer offer- ofer- ofer ing Ing lags Cattle Steady Hogs hogs NEW YORK SOUK Jan u 19 1 AP AP-A AP A sudden Ja bear bur drive against the railroad shares shae which touched of off a a number of f stop top Jot Iota orders unsettled today's stock market mar mar- Ji- Ji ket keto The reaction reaton came after afe an an opening display of ot strength In ha which the tho public utilities had hod taken taur a prominent part Trading continued relatively dull dul however however how how- ever with Indications that the d daya ya to total total to- to tal cal would again taU fall below shares The raid tad on the te rails rala probably was wa In Inspired in by the belief belef that tat holders holder holder of I Issues aue were wee becoming discouraged over their lethargic market action aion during the past pat few fe weeks week Ch Chesapeake Ohio quickly broke 6 5 I points In Canadian Pacific 3 3 and New v York Central lr x om common cornmon corn com mon mon Reading St. St Louis Lout Southwestern more and a a. a few others ethera othe sold down ow 2 I points or Call Cl money renewed at Rt 4 per pe cent and then ilten dropped droppel to 3 H i but this thle was wu offset by reports reports reports-of of a a fOrmer firmer undertone in the time money market The weekly steel trad reviews w were re o optimistic In character charac chara- chara tar ter ter Iron Age stating that tha finished h ste ster steel stee r requirements are not only growing In volume but are re becoming better bal bal- balanced ance U U. S. S S Steel common nevertheless sonic saab below 14 to a tew new low on the tho cUrrent current current cur cUr- rent down swing twin Violent fluctuations again took toole place In Ime some of the high priced pool POI special special- ties le Midland Sl Steel Ste-el 1 Products preferred tumbled tumble 13 points U. U S. S Cast Cut Iron Pipe I 91 O i and Case Cue Threshing General Asphalt As A- A and and Greene Cananea Copper sold down 3 to 5 I points Early Early gains gain in ln many of the popular In Industrials In- In were vere wiped out and and conver converted converted- dInto d. d Into losses by early erly afternoon The l sellIng sell sell- lIn l- l lug Ing In was WI not In lit very large volume however how how- ever and ad a few tew Issues continued to display dis play Independent strength The closing was wa h heavy vy Further re reO reV re- re O of the call al money y rate to 3 ZV pet per percent cent eventually V I Ial slowed I up the selling lr movement and nd price hardened somewhat 1 In the final hour Various leaders leader however however how how- I ever met fresh offerings on the shares share pry ery ey Total Total sales eln approximated approximate