Show TRADERS MISS MISS' 7 RULING GUESS By ELMER ELER C. C WALTER WAR United Press Prea Financial Editor NE NEW YORK YORK Feb 17 UP UP Wan Wall street treet missed a guess on the supreme supreme courts court TVA TV TVA A decision Monday by per cent and precipitated the wildest wildest wild wild- est t selling r rush ah In several years Trading was the most moat active aUve since July uly 21 1933 1953 when It exceeded 9 shares har s. s Sales passed before the end of the fourth hour swelled by blocks of 1000 to shares of ot utility stocks stacks When Chief Justice Hughes Hugh was reading the lengthy TV TVA A decision traders loaded up with utility shares without knowing what the decision would be Huge Hugo blocks and Jonea long lone a strings rings appeared Utilities gained 1 to 10 points and most mOlt of them made mad new highs for several leveral years Tickers Tickers Tickers Tick Tick- ers fell behind by as u much as M 6 8 minutes Then Thon the tide turned Floor prices were lower Jower than those on the tape Traders became worried even before the decision was announced Th That t wave of selling subsided and the th market was I calm when the government government govern govern- ment victory was announced It swept over over the market community Instantly Bids were withdrawn from utilities and chaos reigned on tho the floor of ot the exchanges In some instances specialists were unable to arr arrive ve at heavy were the orders Other sections went down with the utilities Traders Trad Trad- ers era who had loaded up with utility stocks found their accounts under- under margined and were forced to sell seU other holdings Including ding ties Rubber turned down from Its highs So did cotton Toward the close the market steadied on short covering Ih The Tho close was Irregular Before the break new highs bad had been made by dozens of at Issues es especially in the utilities Consolidated ed Gas Gal hit 38 fell tell to 35 and rallied rallied ral ral- lied slightly N North American fell from 32 8 1 to 28 3 Public Service Service Ser Ser- vice touched 48 4 3 and then dropped to 46 48 Others Other behaved correspond correspond- Commonwealth Commonwealth and Southern which operates In the TVA territory was the most actively traded issue appearing in gigantic blocks one of them shares Its deals made up about one filth of all trad- trad lag Ing Packard was heavily traded at a anew anew new top Low priced motors generally generally gen gen- were higher and so were most of the motor equipments equipments- |