Show WAVE DROPS STOCKS Stump Slump in Grain Marl After Administration Hits His Silver Siver Hopes n ny ELMER EIMER c. c Press Editor Edior NEW YORK April April A 16 A 15 period of selling from roni 2 p. p m. m to po p. m. m l Monday shook shok the stock market out of its it recent lethargy forced prices price down 1 to 16 poInts poInt and caused tickers to lag five minute behind the actual market market The selling subsided as quickly as It I began and volume fell tel back to the n slow pace prevailing In recent ses Prices Pries rallied slightly from se the lows laws Principal reason for the break was in grains All AI commodItIes iverc ere depressed notably silver siver which v was s off or more than point Bonds met selling for tor the Bond selig first time in me severa sev- sev c era weeks week Sales Show Increase St sti ck sales sales' approximated shares share against shares share FrI Fr- ay Curb sales sale were shares share against snare last lat Friday The slide in prices price began early In the day in the Silver siver market market Bar silver siver was down nearly a cent In the spot market and more than a cent an ounce in futures trading Reason for lor the break was wn the indication that the administration will wi resist reit passage passage of ofa a silver bill nt at this sessIon or of siver bi con con- gre la Silver Si er issues isue were vere the first to break brenk I on the stock exchange Gold shares I held well wel most mot of the da day In the silver siver division Federal Mining and crashed 16 points to 85 85 while U U. S. S Smelting dropped 4 poInts and nd others of the silver dropp divIsion pInt were down 2 to nearly 3 points point Dooms Inflation Elimination of silver siver legislation from the Washington Wahington docket would mean there would be no inflationary at this thi session sCion This Thi was wa r construed as a bearish and only n a rein rela small amount of selling smal was wa to touch off or a sharp reaction reo re- action acton When grains grain were driven cown down selling broke out in the stocks stock that would be directly affected These included the farm equipments mail mai ogder oder shares some or of the automobile e f e and packing stocks At the lows Auburn Aubur Auto Aut touched 47 4 1 1 off of 4 4 3 3 Case 66 4 3 3 off ot 5 Du Pont 95 8 58 off of 2 18 Cerro de Pasco 35 2 1 12 off of 2 12 American Can 2 12 off oc 2 4 14 Howe Sound 50 58 off of 2 58 U. U S. S Smelting of off 4 Atchison 66 4 3 off of 1 8 78 U U. U S. S Steel 51 51 off of 1 8 38 American America Telephone 18 78 off 1 8 58 and ad Chr Chrysler Ier 52 4 14 of off 1 34 |