Salt Lake Telegram | 1928-01-05 | Page 15 | Sweeping Break in Wall Street

Sweeping Break in Wall Street 4 Markets at a Glance NEW YORK Sl Stocks unsettled t Mirland Steel t 1 products preferred breaks break 28 8 pint points Bonds Dondl firm fir Erie railroad s at n nev w high record nw feon Foreign or exchanges med mixed sterling t steady ady lag ing Cotton Coton declined Wall Wal street sell cell Ig Sugar bugar easier Cuban selling Coffee Cote easy eay European selling seln CHICAGO Wheat easy 41 foreign selling aching ests este Corn Com e easy ceIling Belling seWn by cash casio cab Inter Inter- es Cattle Catte lower loner Hogs weak NEW YORK YORI Jan Ja 5 AP Ap-A Ap A sweeping sweep sweep lag ing reaction followed by a partial re recovery recovery r- r re- re covery took tok place in today's stock sock mar mar- ket Icet Early selling was based on the unexpectedly large increase in stock sock exchange exchange member loans with the subsequent subsequent sub sub- sequent recovery recover influenced by the re reduction reo re- ducton In call cal money rates from 4 44 to 4 per cent as against an opening rate of ot 6 yesterday Trading was in tremendous tre- tre volume the ticker falling nearly nearly neary near near- ly y halt half hal an hour behind the market despite despite de de- de spite Ile the abbreviated quotation system put into Int effect a few weeks ago Judging Judg Judg- tug ing by the turnover In the first three hours hor the days day's sales promised to run well wel over shares chares In addition additon to lower ower mone money rates rate the afternoon recovery recover also Ilso was stimulated by the reported increase in steel mill mil mi operations and predictions of ot a a substantial substantial In the unfilled of ot tia gain orders the U. U S. S Steel corporation which will be bem m made e public next Tuesday 1 The closing was vas unsettled New buyIng buy- buy Ing lag attracted by the volume of ot the de decline de- de dine cline In the standard industrials IndustrIal and resumption of ot pool pol operations in a a handful handful hand band ful jut of at specialties particularly Westinghouse Westinghouse house Airbrake Jones Brothers Brother Tea Te In International In- In Cement Products Products Prod Prod- and International Match preferred caused prices to mend fast tut in late ate deal ings Fresh offerings however however o ot of United Unite States St Steel l. l General Genera Motors and ant other shares shae sensitive to professional pressure caused feverishness in the te final hour r shares hJ Total l sales a. a approximated A