Show m TOCK fi PRICES SKID if POT AT CLOSE ill illI I in Control After Two U I ears lears II Dull Sessions Rails Stand Up Well Wells s EW ff yORK June 18 A D A grad- grad of oC share prices became c 31 kid ridd in the thC last hour of oC ofT ia Thur Thursdays Thursday's stock market T i In ding of oC nearly two the monotony g s of oC th the slowest trading seen jears TM years Lf tr trickle of oC discouraged r which has ha come Into Int ther the tin u. u r H tt t the early carly June Jue upturn n ut out finally prompted fresh l U f forts at St at a time when several S were becoming impressed 1 u the markets market's ability to stand stanc t th t still in the thC face of or depressing M St le sti iV Sis new news The days day's aggregate 5 e however h were again agai only about abut Trillion shares sher I tUon k The rail ri shares stood to up somewhat Louis than yesterday St. St Lui I buer tha sold up 5 5 then lost lot while Southern half its pain gain aLn IY ha 1051 2 It 2 Losses Lo L of ot a point or 01 I lot 1 im j in New York Central I Ii md selling was diverted a wa I In the late dealt deal deal- i t the utilities dea- dea t J I tosses losses of or about bout 2 to 3 points point Jad American and Foreign i ed in i I J 1 American Telephone Amert Amer- Amer k rr and ConsolI Consol Consol- 2 1111 S power and Light t I t t GasP Gas Ga I ALSO SHOW snow LOSSES AO declines appeared In Amer- Amer 1 Sr Chemical American Allied Iran Ca k Johns Tobacco B B B. Byers John Eastman Losses of a point or trA sd pit prerecorded by U U. S. S Steel Beth Beth- tr m North American Ch Chrysler Du flU Pont and others other Sr rail D shares steadied as the thc ef effects efI ef- ef The shar I Te of ot ni the gloomy picture presented I I I K by ft the freight fright rate petition petton wore off b th forecasters were ince in- in street 5 l ind ad W Wan H I a. a timed dined to the the belef belief that some ome relief ce be granted The divergent trends treads of ot b Southern Pacific and Ctt Cot Cot- Ct- Ct ton Ion td Belt reflected the exchange offer 4 4 nude reide t Bet to Cotton Belt minority stock- stock ld Elders While the offer of three Southern Pacific common shares for j Cotton Belt preferred ad and one Southern Pl Pacific fo for three Cotton lc Kit BIt common is I equivalent to only oaly around aund one third one of oC the price sugI sug- sug I t d by the tn Interstate commerce commissions t s' s examiner the market of oC the stocks stok has indicated hut ao there ther had been ben litle JUe ho of or a atrie trie price anywhere near that suggested by the t examiner DEPENDS DEPES O ON ACCEPTANCE T NCE The Th Cotton Belt situation still de dep depends depends de- de Te upon acceptance by minority p of or the offer and approval ap ap- ap- ap by the commission so s the I problem presented by br the fact fac that t the iks carrier carder has not been ben cai earning Its It flied fixed fled charges charge and ind has nearly 30 00 of or financing to take lake care cre of or daring the next year er still lUl is i unset- unset I tied tt Another nother problem of railroad financing however that however that however that of the Fris- Fris co has co-has has been ben definitely dl disposed by bythe the te purchase of or in f five five- er bonds by bankers The Te fact lac that tt no public offering of or the bonds till t ili be b attempted Indicates the dlf- dlf of or sue financing at the present time I The e weekly statements ments of or the Banks Dank of England Egland and Prance France gains gan in i gold fold of or about abut 2800 28 00 for fo the former and I. I fox for fa the latter presumably reflecting 1 i In jn part pL the loss los of or metal b by the I The Th Bank Banic Ban Banor of or statement is for the week I i or ending today tI to to- t- t I dy diy day while that thae of oC the Bank of or Prance France is for the period ending last Jat JatI I Friday so s that it probably does doc not My fully fu reflect the transfers transfer YesterdAy Yester- Yester dAy cr J f statement showed I. I 1 of or nearl nearly In In yellow elow teti et The weekly federal reserve condition cc statement is awaited with Interest o i wih Op OUTLOOK LOK IMPROVES The T foreign financial outlook generally gen gen- rally aly continued to t improve c with wih the of or the Bank of or El England land of or a fr credit dit of or about abt to t help the of or Vienna casina that 1 Uon German bonds in the loCal lot lo- lo u Cal market eased cased after their wide t or preceding sessions sessions- but Wall Wal I I r rw felt relt that the prompt aid of Ious l central banks bank had tempo- tempo inn gray r teen taken taen care cre of or the crisis in Bert Ber- Ber CredIt L were about sta- sta r t Wl in i Wall Vali Wal street with no outI out- out ZIde eau money TOey ey offered under the I uder of- of rate of or 1 2 1 per cent cent This Tills represented the with with- t or of credit cu caused d by paying off the payl of r quarterly overdraft r ag 1 br y Interior banks bank |