Salt Lake Telegram | 1939-08-23 | Page 17 | Stock Market Slumps as Traders Fear War

STOCK MARKET SLUMPS AS TRADERS FEAR F WAR PRICES TUMBLE 1 TO 4 POINTS By VICTOR EU EUBANK ANIC Associated Press Fress Financial Editor NEW YORK Aug 25 Traders 23 Traders sized up Wednesdays Wednesday's events in Europe Europe Europe Eu Eu- rope as potentially as-potentially dangerous and stock market prices slumped by fractions to as much as 4 points at atthe atthe atthe the worst Proceedings were quiet most of ot the session but picked up In the thelast thelast thelast last hour as commitments were cast aside and losses increased A Afew Afew Afew few leaders recouped slightly just before the close Transactions approximated approximated approximated ap ap- ap- ap shares Professionals who Tuesday saw in the proposed Russo-German Russo pact a possibility that war might be avoided over Danzig were mor cautious Wednesday Wednesday Wednesday Wed Wed- as the result of ot a new se series series series se- se ries of diplomatic moves noves Of ot first importance was the re reported reported reported re- re ported demand of Hitler that former German parts of Poland be returned to him him peacefully or that Poland be partitioned partitioned partitioned parti parti- if she should resist that Poland become a protectorate of Germany and that Danzig be re returned returned returned re- re turned unconditionally to the reich Selling Develops Late The late selling brokers said stemmed partly from dispatches re recounting recounting recounting re- re counting that a German plane had been shot at over the Polish corridor President Roosevelt's Roosevelt's Roosevelt's Roose Roose- velt's cancellation of remaining days of ot his vacation trip contributed contributed contributed contrib contrib- to nervousness The London stock exchange re recovered recovered recovered re- re covered after early weakness but Amsterdam and Paris were lower In n London Loncon the board of trade took steps to prevent the sale of essential essential essential essen commodities abroad Lloyds raised war risk rates fairly sharply on shipping Down most of ot the day were U. U S S. S Steel Youngstown Chrysler U. U S S. S Rubber Montgomery Ward International International International Inter Inter- national Harvester Glenn Martin Consolidated Edison American Smelting Westinghouse Electric Dow Chemical Union Carbide Du DuPont DuPont DuPont Pont Philip Morris Owens Illi nois U. U S. S Gypsum Santa Fe Great Northern Loft Loews Loew's and Ce- Ce lanese Plus Signs Appear Here and there a plus sign ap ap- ap Omnibus Corporation and New York City Omnibus gained about a point or so after extra dividends were declared Dome Mines and McIntyre Porcupine pushed ahead and some of ot the oils were a little resistant Bonds were off with foreign dollar dol dol- lar Jar issues and U. U S. S treasury obligations obligations obligations soft