Show RAILS FORCE MART LOWER By ELMER C. C United Press Financial Editor NEW YORK Feb 23 Railroad 23 Railroad shares bares and railroad equipments led the be stock market lower Saturday The list softened with losses ranging rang rang- ing ng to more than 2 points Many is- is issues sues ues made new lows Utilities firm firmin in n early trading eased from froni their highs Motors lost a point or more Silvers declined Sugars eased alter after an early rise Steels weakened Atchison Topeka Santa Fe dropped to 41 4 1 off 2 1 18 and a new new- low ow since 1933 Union Pacific lost more than a point and Southern Pacific Pa a point Others were down fractions frac with many around their lowe Iowa since 1933 Acute weakness continued In several sev seva eral of the railroad equipments Bald Bald- vin stocks and bonds made new lows Baldwin first mortgage 6 per cent bonds touched par for a loss of a point The Consolidated issues on the curb made record lows American Locomotive Lo issues made new lows at losses of more than 2 points each American Car Foundry common declined nearly 2 points to 14 34 3 Initial dealings in the utilities re revealed revealed re- re gains and active trading The rally followed the action of Federal Judge William I. I Grubb of Binning ham lam in making permanent lions ions restricting 14 Alabama towns rom from receiving or expending P W A for municipal plants to distribute distribute ute T V A power At the highs Consolidated Gas was wai wasat at 17 3 33 up un 8 5 North American 11 8 1 up 8 5 and United Corporation Corpora tion preferred 23 8 1 up 3 Before selling set in American Crystal Issues made new highs for forthe forthe the year and American Sugar made a small gain Further evidence of declines In the steel industry reacted against steel shares Automobile issues were depressed with Chrysler off more than a point Studebaker which leaves the board Monday was at its record low of 1 Farm equipments were sharply lower despite outlook for improvement in Inthe the farm areas American Telephone held a gain until just before the close when it dropped with the general market Western Union made a new low for forthe forthe the year at 26 8 5 off 1 A few stocks moved against the trend for a time Loews Loew's was sUll' sUll aided by an art increased dividend Unit United United ed Fruit met demand sufficient to bring it to a new 1935 high at 2 up 1 1 American Can was steady at until just before the close when it declined a point American Radiator dropped to a new 1935 low at 13 after making a slight gain Mercantile Mercantile Mer Mer- cantile issues eased National Biscuit lost a point on an adverse earnings report |