Salt Lake Telegram | 1933-10-16 | Page 13 | Stocks Tumble under Selling

I I STOCKS TUMBLE TUMBLE UNDER UNDERSELLING SELLING l Waves of L Late Lite te Liquidation x Bring Slump Stump on on Market J NEW YORK Oct Oct 16 IP tumbled Monday under waves wave of late liquidation attributed partly to t Inability Inability In In- I. I ability of traders to interpret the complexities of both the te domestic and Euro European i situations There Ter was littie lt lit lit- tie tle tc support for most mot of ot the thc leaders leader and ad losses loses of ot 1 to t 5 or more points were wore general The activity expanded on the te decline decie and transfers approximated ed e OO shares share The Te close was wa weak cos Heavy leav selling volume came Into t th the market around 1 o'clock alter after ater d morn mor- mor ing inc of extreme dullness dulle in which equities displayed a sagging tendency Brok rage houses houe reported considerable considerable consider consider- able discouraged public realizing in inI the afternoon Shot Short selling while picking up noticeably In some stocks stok was as a a whole said sid to have hv been bee unimportant unimportant There Tere was wa believed to have been ben no unusual a amount ut of for for- foreign eign eig liquidation Grains Grain held fairly farly well during duing most mot of the thc day but they fell feU with stocks stok Wheat slumped the full fuI days day's allowable limit of 5 cents cent a bushel buhel Cotton Coton also alco al turned down down- dow dow- ward Secondary bonds were substantial substantial sub sub- losers The dollar dolar gyrated erratically in foreign exchange deal deal- ings There was wa a moderate rally rany just before before be be- fore tore the close cose that cut share losses loe fractionally to t more more- than a point pit Among Among- losers of 5 or more points pOints' point were Allied AUed Chemical National Dis Distillers tillers Case Ce and Union Pacific Is Issues Issues sues sue down 1 to more than t 4 included American Telephone U. U S. S Steel Chrysler U. U S. S Smelting New York Central Sears Sers Roebuck Standard Oil Oi of New Santa Fe Nev Jersey ant Fe Consolidated ed Gas Ga Dupont Dupont General Motors Western Weter Union Johns Manville American Can Westinghouse Celanese Celan- Celan Cela- Cela ese and Delaware Delaware Hudson Hudon