Salt Lake Telegram | 1928-02-17 | Page 18 | Wall Street's Close is Weak

Wall Streets Street's Close Is Is' Weak S j Markets at a Glance NEW Mock weak general selling mote r 11 ment engulfs e I Bonds quiet quirt I 1 t. t f. f government I. I Ia turn cue firm Ur o es lO ly I den sterl sterling lot ing hun francs higher ligler belt belt- I r re e. porte I 0 In Coffee rosy easy COn I lon house houM selling C Ii dI declined Un t beneficial snow now Corn om n predictions prediction longer larger fr r ro- ro la II Cat tattle lie Irregular hogs Hog 1 l o 0 V NH YORK TORK Feb Fb 17 AD AF r Speculative laIty sentiment In toda today's tock market mark wa was w. distinctly boorish bearish Pools Pool 11 end endeavored nored to mark up a fist few suu in th the tho early trading on th the publication of or unusually favorable 1927 UT turning earnings by the General Motors Motor corporation and the r Pennsylvania railroad and nd th the Ih drop In broker loans loan but they encountered large larl of offerings In In on th the tb rallies Lowering of nr th the call money rat tale late from Crom 44 4 to 4 per pr cent cr t also 1100 inspired In In- a a- rally around midday but It was t short II lived There was w. nothing In th the dA days day's n. n news to III Influence th the general selling movement move move- ment which appeared to b be bud bases on th the b belief lIef that th the market was U overbought over over- bought and that a reaction was wan warranted warranted war war- ranted rant on technical grounds Severs Several commission houses suggested that th tit widespread and anti unfavorable publicity given to brokers brokers' loans loan necessitated a sharp sharI reduction In that Item dora before an another another an an- other major advance avant was seas possible Uneasiness Un Un- employment easiness over r was th the e offset recent f t to lc Increase In extent t unemployment un- un t by th this the Increase Inere In building permits and the Improvement t In th e steel Industry frh 1 Metal shares which I ha have been wide widely fd I ly exploited on th h of ot new processes and or ore discoveries wets were among amone th the hardest hit Midland Midland- Steel Products preferred nearly nurl S 8 points Oren Greene Copper and nd Calumet Calumet Calu Calu- met 1 Arizona fell 7 T points each and nod Body nody Manul lanati flu Sugar car National Case Cuo Threshing Machine Brooklyn Brooklyn Brook Brook- lyn In Edison and an A It Williams William sold old 4 to 0 S 5 points below yesterdays yesterday's final quota quo quo- ta tallon Ion Ions Special selling of ot th lbs Ih rubbers wa waC waa In Inspired inspired In in- d by reports of ot luc large Inventory losses Iou while hilA tho oils oil lost ground as a. a result of oC th the recent cut In Smackover crude crud II priced price and unfavorable dividend nd rU rumors rumor Th The closing was s weak uk I TAfe arg selling orders were wr dumped Into the Gis market In the final hour and prices of or leading In I in and rail all shares shafts tumbled 2 3 to 6 I points Total ales rales approximated 2 shares hare A