Show s Fresh Fres h Downward Rout i it t- t Hits Stock J Market Mark t r Confidence Prevails Prevails' Tremendous 5 Scale ale Seen SeenD D During ring Ope Opening g S e cel f S Sinks I rik 5 1 BUYERS NUM NUMEROUS OS J Washington Rep Repot Reports lS No T Eme Emergency gen y Exi Exists 1 By ELMER C. C Unit United d Press Financial Editor NEW NEW- YORK NEW YORK Nov Nev 1 Another Another r tremendous trading g da day day- dayon o on n nth the th stock exchange fo found found d prices t today day dayI I in a j fresh downward r-ou r rout with ne new lows Iowa established on an many issues There was nothing of o sp spectacular nature li h however D Drops ls we or q or orderly derly deny Despite the further sags CS front from yesterdays yesterday's lows there W was waa a a. confident to tone prevailing The op opening was wac iS on tl the e tremendous dous scale that has characterized d I markets ever since the downswing g gt Started t a fortnight ago jAt the end of oC the thC first lu half Jf hour It H was found foun that l trading k had d bee been at t the thora rate rate c. c of j f shares for tor tora a full five five- Chour C hour day t Sales a es 1 Including odd lots totaled ota cd 1 7 50 shares share L the 1 largest the hour sessIon D In n history 4 with yesterday Sal Sales s. s exclusive of odd lots totaled i sha shares cs the largest pf an any thic hour session thus far Yesterday Yes Yesterday sales totaled 6 United States Steel again agahi led In Inthe Inthe Inthe the action There was support In I lv- lv en n steel during th the n morning to which the tho market reacted But there them was was l lack ck of ot support for tor steel later and md tho whole market slid sUd down Steel Steel opened opened at at roso rose to to around and then dropped to around around Ht lt t closed last night at 1 1 Steels Steel's low was a new 1923 12 low Dozens of o other ther th r leaders leaders' made mado new 19 1929 D lows arid and than sh shares res dropped to new hew levels the lor-the year r el or nger Hugo blocks of ot stocks stocks' held held-by by wealthy Individuals were put up for sale They were taken by Jn Individuals Individuals who beU believed ed that the turn was as not tar far far distant distant The encouraging t thing about the he market was that ht hta a 3 buyer was found for 01 ne every every offer This i Indicated mill Indi dl- dl to traders that the banking group was taking a a. hand How- How v Continued on n page pageS 1 7 7 t t. S.- S. AFRESH FR FRESH SH P DOWNWARD ARD ROUT MARKS DAYS DAY'S S MARKET TRADING r Cont Continued fro from page age 1 ever that vas not verified and rind no no word was given that th the banking I S' S group up had h got together ther today The rh b breal e In ste steel l was S ascribed d dIn In some qUarts quarters to tb reports ot o a o falling ort off Jn Ill bp operation p ration oj of the corporation cor cor- pO Uon t to 75 P per cent ent of of- capacity J y froni 80 per pcr cent a a week ago That information I h however wa was available val a ble before the opening and nd in iii the half hour r t the e stock bounded bo upward from yesterdays yesterday's low I Railroad sto stocks J s were were supposed tobo to be bo sold jon on the decline reported in hi car loadings for the week ended November November No No- vember 2 These d decreased ci front th preceding s week and CIl earn car from rom th the thc same week cek o of 1928 they were still well above 1927 I In railroad circles tho tho- fallIng fall fall- Ing ng off was Ayas laid to normal season seasonal n al alch changes and was as not considered red redin an in ii Indication n of t poor poat business b sInes ahead hea NO EMERGENCY EMERGENCY- Near the Uie close word can camo 11 o from r m mW W Washington th that t Isted This was m made md d ill in r response to numerous messages s' s suggesting that the government Io take f k action in inthe Inthe Inthe the the pr present economic situation It was said that officials of at Washington Wash Tash ton ington after r a survey urvey of f New York and other t financial nu cl l centers rs have ac accounts c counts vastly more l' l reassurIng than those painted d in th to th the White e lI House s 's tr treasury y and rand federal re res re board The ih h announcement came ame rather I late but it had an an- Immediate e ef effect cr- cr fec fe-c. on n prices Steel which had I been flat rose In lye five minutes to lb t 1st 4 3 American Telephone came came back to 01 and several cral other ph pivotal o Issues weer bid up p somewhat somewhat some some- I what from their lows At 1 1250 50 p. p m. m m. m the stock ticker was as s 's seventy five fIve ve minutes behind It was estimated it would run until before the the last quotation was printed I Wheat Prices II Average High CHICAGO CI No Nov 13 AP Wheat AP-Wheat Wheat prices tL averaged higher and and scored gains s of or 1 1 l to 1 7 Se a a. bushe toda today despite a son zon decline to lo now V low Jow levels attributed to tho the of or the thc market Closing Clos Clos- tog ing prices V were re 8 3 to 2 1141 2 l for tor December wheat March 4 1 May a 25 to 8 1 and July 1 Trade today was 38 more near the I normal volume and except except for tor the heavy wave ave of oC sales at one nc period the level level- of ot prices was better better- than yesterday wh when n 7 cents a bushel II was vas knocked from front the tho wheat mar mar- ket Hope for lor support from the federal edt farm board helped sustain prices and there was vas a a. better vol ol volume I ume urne of ot port export sal sales 9 today Coast Stock Curb Marts Change Ti Time e SAN SAX FRANCISCO Nov 13 UP The The San n Francisco sto stock k e ngO and curb curl market will close at 1130 i. i m m. m Both exchanges will remain closed all da day Saturday This This' action ac nc- tion lion was was taken by by- the tIle board of ot gov governors ov- ov to make th the trading on the San Ean Francisco exchanges more nearly conform to tho trading hours on the thc New York exchange and other Important stock exchanges of or ortho the tho ho country |