Show FEAR FEAR OF CONFLICT SENDS MANY SHARES DOWN f MODERATE ODERA TE BEAR TREND PREVAILS By VICTOR VIcrOR EU EUBANK AiK I Associated Press Financial Editor i NEW EW YORK Sept 23 23 Selling Selling on ona ona on a a. moderate scale was v.-u renewed in insecurity security markets Friday depressing many stocks 1 to 3 points as Vall Wall Wallstreet street revised Its hopes for preservation preservation of European peace Suspension of the Cham Hitler talks together with warlike warlike warlike war war- like preparations In various dous countries and clashes on oa the thc Czechoslovak border seemed to dispel much of the tho financial community's community's com corn assurance extensive bloodshed would be avoided Inthe Inthe in inthe the nail Czech struggle Accustomed to week end crises i and coups in Europe traders put their accounts in shape to stand another another an an- other shock if need be But the selling was a a. mere echo of the excited excited ex ex- cited liquidation at the height o othe of the war fright recently The relapse In peace hopes was apparent throughout th the market market- marketplace place Foreign currencies declined In terms of the dollar donar pointing to a a. further shift of capital to New York Bonds sagged with stocks while white the th grain pit was dominated by speculation specula specula- tion for the rise again on the chance chanC war moves might stimulate demand for foodstuffs Indications business business' Improvement Improvement Improve Improve- ment In the United States had made more recovery headway got lost in the shuf shuffle e of European tidings and home storm news which preoccupied financial at at- at The decline extending yesterdays extending yesterdays reaction from front the preceding three- three day rally eliminated a a. good part of of the weeks week's gains in such shares as U. U S. S Steel General Motors Union Carbide General Electric Chrysler American Telephone Anaconda Sears Roebuck Santa SantaFe Fe Johns Manville International 1 Harvester Electric Electric- Auto Lite lAte and Southern Pacific While larger than in the preceding session transactions approximated only shares On the curb the losers Included Aluminum of America American Cyanamid B Lake Shore Mines and Wheat at nt Chicago closed to toVA 1 VA cents a a. bushel l higher gher Corn was up 4 to A 34 cent higher Cotton near the finish was down 15 to 35 cents a bale the British pound was off 2 cents The French franc was quoted at cents cants off 01 a of a a. cent Motor shares seemed to get more attention than most stocks from sellers Weekly production estimates estimates esti esti- mates revealed the industry Vas was slower In g getting g into m in manufacture of 1939 cars than trade authorities had expected a few weeks ago Combined with the tIfe darkening European picture as it looked to Wall street was the disclosure of the scope of the hurricane property damage and heavy loss of life along te the t northeastern seaboard How hard business and financial Institutions Institutions I had been hit In the stricken areas was impossible to calculate |