Show SELLING P PRESSURE E KEEPS STOCKS LU l W I Issues Forced Down for Seventh Seventh Sev Seve Successive Day of Trading t- t By CLAUDE A. A JAGGER Associated Press Financial Editor NEW r YORK YORK- May 16 IP I ty Light but bu persistent selling pressure kept the stock market on the downgrade for the seventh sue suc- c. c session Saturday St Stock k price Indices Indicated that the general level Je had broken to around the spring of or 1927 Rails Ralls in inthe th the aggregate ar arc nrc back to the levels of 1924 V Wall street had been Inclined to look lok for or a end nd rally raly generated by closing out of or short short positions but butte the te wave ave of covering late yesterday appeared to have completed the te week end bear profit profi FINALS LOW Final Fial prices were close coe to t the lowest lowest lowest low low- est of the two-hour two session Declines Delies of or 1 to t 3 point points s were numerous al although although al- al though tough several prominent Issues held about abut steady stady The total turnover tuo er for forthe forthe forthe the short session was wa only about abut 0 shares Bears Bears have been ben rotating from group to group of or late lat and apparently apparent apparent- ly selected the food foo shares today toay National National Na Na- tonal Biscuit and ad Loose Lo Wiles dropped 3 points point Borden Corn Cr Products Products Prod Prod- Po- Po General Mills MUs and ad Pillsbury Flour Flou lost lot about aut a point pit U. U S. S Steel Stel duplicated d yesterdays yesterday's bottom price of ot 3 8 off or 2 points from yesterdays yesterday's close dose American Can came caine close to t the 10 mark mak getting gettig down more than 2 points pint to t a new low Jow for the movement at 1 te L Issues ues losing 2 to 3 points pint include included ed New York Central Canadian Pacific Pa Pa- clUe cUIc e Electric Storage Battery Battry Eastman Eastman Eastman East East- man and ad Lambert Laber Issues losing a point pit or so in i included lude lud- lud ed Atchison Athson Baltimore Batmore Ohio I American e Telephone Case Cae Da Du Pont American Water Works and Nash Nah Auburn lost lot 6 Such Issues issue as a General Generl Motors General nera Electric and Radio held about steady stady NEWS S E TIVE NEG NEGATIVE Week end news was largely negative negative nega- nega nega nega- tive thc and not of a a character to influence ence enee the market markeL maket The estimate of next weeks week's steel stcl production In i the te Youngstown area area indicated a a. a slight contraction The Te weekly mercantile reviews indicated some slackening Inte in inthe inthe the te rate rat of seasonal decline of busness business bul- bul bus busi ness l at activity but failed to t report c positive e betterment I Foreign exchanges exchange were if i anything anything any any- ay- ay c thing a little firmer perhaps as a a a in int interest interest in- in further reflection of the cut in 4 t terest r t rt rates paid on foreign deposits by New York banks bak Sterling cables cle I ruled at 7 16 up 1 French Fench C francs anc however were a shade low low- er cr Austrian Austria e exchange chanse firmed perhaps perhaps per per- perI I haps reflecting the credit to the te I Austrian Credit large lage Vienna VIena I bank bak I In In commodities cotton continued c cUs Us its recent reet slow decline futures clos cbs lg 55 to 65 6 cents cent a bale lower |