Show Wall Wal Street Flinches Under Bears ears Who Converge on Motors Wie Some I O of Leading Industrials lose iose Grun Houston Oi Oil Soars More Tn Than Ten Points and Others Oters Mae Make Shar Sharp Advance Advances Some Eastern Eastern- j I Rais Rails Heavy Rand Rand Remington-Rand 1 cates Half Point Below the te ter r Market arket for the Stock te NEW YORK March 5 By Bytho the Associated The Press reaction I Istock s tock stock prices which had been under way two days was extended today toda when heavy selling again took place for both accounts Apart from s second cut in crude oil prices there was nothing in the days day's e explain the selling which appeared to be a further correction of ar ar obviously speculative position built up in the recent rap c o buit advance 4 Total sales fall fel just short of 1 Bear selling was conducted on U 1 theory that practically all al ot of th good news which the upward c movement was discounting was ou ot of the thE way and that some new Me arni Important constructive Wa necessary before CIt lUsh l- l Ush hish enthusiasm could be creat resume the general upward rd Ot observers agree that the tr trent n ot of Is the key to o he future movement ot of security that close attention Is being e eto to the called so-called cUed so-cUed business ers era The that yesterdaY f selling was based on the fear extra session ot of congress groundless when seemingly 1 assurance that no such action acton wa Wf contemplated by President C l- l lIdge Idge passed unnoticed as a marke factor Today's selling converged largel on the motors motor motor and specialties In which prospects for tor 1927 earnings are ae not as tam tam- favor abel as they were last year yea Roller Bearing broke over 5 pol points tf to 83 4 3 but recovered half haI R on selling attributed in fri some to the development ot of regarding the company roller bearing apparatus for tor r rails l roads General Motors Mack Truck Warner Stewart Varner and White decline e ea a point or so U. U S. S Steel Allied Aled American Smelting and tonal Combustion an all sold down point or so 10 On small smal dealings te cessions ot of 3 points or more we werl recorded by Adams Adas Express Am can Republics American Amerian Foundry Buffalo Rochester Pittsburg Pitsburg Chicago preferred and Union Pacific pre feri Houston Oil Ol soared over 10 p polo ln to 19 7 74 closing within a point 0 the top Reynolds Tobacco jumped nearly six points to 10 then backed backed down to 4 3 Atlantic Refining Reining Kelly Sprin KelY t field common S. S H. H s and surety advanced 3 more Considerable g was reported between Typewriter stock and deposit for the same security In Rand RemIngton-Rand Remington Inc merge when a half point spread develop between the two Floor trade sold certificates of deposit bought the stock Because large volume of stock der the plan a broadening mark markis is expected for the Heaviness of some of the easte rails may have been due to the ported decision of locomotive eng to ask for a 15 per cent I crease in wages Foreign exchanges held fair steady with demand sterling ed around 4 3 and Fren francs just above cents |