Salt Lake Telegram | 1933-07-19 | Page 12 | Sales Deluge Hits Big Board

SALES DELUGE HITS BIG BIC BOAR Wet Stocks Suffer Losses 7 to 25 Points During Dur- Dur ing Trading sj NEW YORK July 19 t were swept overboard der a deluge of selling In and a sharp relapse In the grain cotton markets The recently bu buenZ wet equities suffered losses 5 M to 25 points at one tune time and o jl groups declined 2 to around 7 T close was vas weak Trading volita tamed large proportions after approximated WS shares res T Most of the pivotal stocks art early break In the distillery rW but when the latter failed to appreciably profit taking started a rush which unsettled the list Even the rails and j at the opening sagged with ti Wheat and rye dropped around TM cents a bushel cotton lost abo about II IIa a bale and corn was off some 4 ce a busheL The trend o of other cora comaS ties Ues was lower The dollar in foreign exchange markets market B BOBA turned irregular t It was the most severe market markt rt lapse since the start of the market Various reasons were gi she for the reaction Among these reports that banks were speculative credit and brokers broken n ing margin requirements requIrement Th The Ing wet losers Included National Nation 1 tillers Uhlers U. U S. S Industrial Alcohol lean Ican Commercial Alcohol anti and Solvents Case went up a ate 7 points while declines of around n 4 or more were recorded by Us Steel Santa Fc Fe Union Pacific Ane ican Telephone Dupont Allied Ch leal Ical American Smelting McIntyre Porcupine United and others Numerous Issues to around 2 points