Show SELLING WAVE SLUMPS MART Saggy Condition of Steel Frustrates Bullish Movement Movement Move Move- ment NEW YORK Sept SepU 19 P After drifting quietly In a narrow price range the stock market sagged i ithe in inthe the late trading Monday and many issues showed losses Selling of U. U S. S Steel preferred which broke around 7 points extended extend extend- ed to Steel common which lost more than ban 2 Rail shares held better than industrials although declines of more than han a point occurred in Santa Fe and Union Pacific Transactions approximated approximated mated shares After an initial flurry of selling the market started upward in the forenoon with American Telephone Consolidated Gas American Can Eastman and most of the leading rails rising around 2 points Selling gained the upper hand however in the final hour and action of the steel Issues soggy all day served to put a damper on bullish trading enthusiasm Earlier Ear her lier gains were converted into losses of 11 or more points in a wide range of stocks Farm shares furnished n a temporary strong spot Harvester and Case running run ning up 2 points or so but these gains were erased when the grain market took a dip late in the day Cotton which had sold a bale higher lost most of its advance and wheat closed with small losses Inability of the commodities corn com to show much endurance apparently apparently ap ap- contributed to the moderate selling of stocks |