Salt Lake Telegram | 1931-09-19 | Page 10 | Securities Decline Stock Fall Broke

SECURITIES IES STOCK FAll BROKE BROK Pressure Against Exchange British Bonds Bonds' Again Unsettling By CLAUDE A. A JAGGER Associated Press Pes Financial Wrt NEW YORK Sept Sept 19 markets flopped again Saturday b I the fall fal In stocks was wa broken by t bear repurchases and ad ION losi 10 were less Je severe evere than yesterdays yesterday's Pressure against sterling and ad British bonds was again u 4 Speculators were anxious sell sel sterling short but vere were dt aged by leading banks Much of t slump In London securities and sterling exchange was wa attributed attributed financial unsettlement i In Artist Amt dam da and the selling by the Dut of oC tho the British securities Domestic affairs failed to t for the large scale large selling In N York and brokers were Inclined regard much of 01 It as a due to u ur hysteria Furthermore thi was wa again active selling In this nu mi ket from abroad Stock stok sales saJe for tor n t two hour wo session were well ove over shar shares s. s STOCKS RALLY SLIG SLIGHTLY From the steel trade trae it was wa 1 3 ported that output In the Ue town area area next week will wl bo be arou aou 39 per cent cent of capacity but there h Ii been little hope that the recent st se den bulge to t 41 per cent would woud fully maintained The stock tock market showed signs rallying for a time In the first ho lio but selling appeared In i large toward the cloe close and the new big hig speed tc ticker er did not print the fir fr transaction until 12 minutes afi the close American Telephone again agan was weak spot pot dropping 6 points point and wa ck cl Ing within less Jes than a po point of low Rails held up fairly we well a such Issues as New York Centy Pennsylvania and Union Pacific fl about unchanged New Hays Hav however lost nearly 3 and Southe Pacific lost 1 1 Norfolk Weem Ww We ern em In which the market la is rath thin lost 7 points American Tobacco B Woolworth lost about 4 poin and Issues off 2 points or so ed U. U S. S Steel National Biscuit Nor American Corn Products Amerla Can and others Royal Dutch w adversely Influenced by In Amsterdam and lost 2 points PROFITS NOT TAKEN Sterling cables sank V to a new bt be torn for recent weeks at 4 3 c cone one cent from yesterday and neat 2 cents below gold parity A rem Cry ery to occurred later W Street Is still refraining from advantage of the profits offered importing gold and the chief u easiness is over gold losses fr fIc London to Holland Much ty is felt In some quarters over Lo dons don's ability to maintain the prent pr pre ent gold standard This evident accounts for the urge to sell exchange short Some offerings under were This uncertainty Is presumably a In large part to rece statements of certain London econ mists The Canadian dollar again was s verely depressed dropping to 97 I cents against a closing level of 98 5 yesterday This was a new low slut sin November 1929 when It touched i I cents The Canadian banks ore are a now contriving to losses of gold as they have at su suc times time in the past In commodities cotton again n ri corded new lows for the season fi ft turcs tures finishing 65 to 80 cents a ba lower