Salt Lake Telegram | 1927-03-18 | Page 20 | Wall Street's Close is Heavy

Wall streets street's Close Is Heavy Markets at a Glance NEW YORK Sleek heavy Ic- Ic sUes on mild tee bond railway mortgages 39 firm Spanish at newl high Cotton barely southern sell sell- ng Sugar Coffee steady good rash mar mar- Corn rosy commission nile fIrmer hogs NEW TORE 1 City dated Preas pressure wa more pronounced In today's stock mar mar- ket Although speculators for the rice attempted to maintain bullish enthus- enthus acm by bringing forward new whenever th old leaders showed cigno of wavering the persistent hammering of bear irader against sloe sloe- dailies hd an effect A growing belief that the recent riCe in United Siales Steel common General Motors and other priced high was being used as a. a screen to cover distribution distri- distri of cheaper stocks was In the Increase which accompanied every rally There was lIttle In the days day's Items to influence the price move move- although operators or the rise found encouragement In the fact that country's gold holdIngs as in tIle federal reserve board statement were the largest sInce 1924 Banks called about in loans before the session was half over but there appeared to be plenty of call money available at atthe the renewal figure of 4 per cent Collapse of the Burns Brothers checked a rally whIch started shortly after mIdday The sudden realization that the warm spring weather bad ad affected coal sales brought a flood of offerings in Burns stocks the theA A 4 poInts and the 1 6 points Further weakness also cropped out lit the bakIng amusement and electrical supply issues with Continental flaking A Ward Baking 33 Pathe Brothers AmerIcan Telephone Supply and as the chIef sufferers Pools were actively at work In sWIll as Safety Razor Philadelphia Phila- Phila delphia Company and Federal StiflIng and Smelting the last named jumpIng 10 poInts RaIls quieted down after Southern Pacific had touched the highest prIce In several years The closing was heavy Shoving up of General Motors to and Commer- Commer Solvents U to both new hIgh fIgures caused temporary else else- re before a. a renewal of large offerIngs offer offer- Ings drove prices down in many to the lowest of the day Both UnIted States Steel General dropped below final fIgures In tits late selling wave Total sales approxImated shares