Show STOCKS RECEDE IN MART Firmness b Commodities Favorable News Fail to Add Strength By ELMER C. C United Press Financial NEW YORK April 28 ceded Saturday despite commodities and favorable news Losses were small in mt i stances and volume continued There was a sharp rise fri on the Chicago board of trade Nea Neathe the close of the stock market waS U more than a cent a bushe Other grains were up Cotton silver rubber hides while tin futures declined The was mixed in a narrow range The stock market lacked leader 4 ship Mcclellan Stores was the mog active Issue holding around its flevious close of 4 3 Schenley wa ac tive at a gain of nearly a point while relatively heavy declines were noted In Consolidated Gas Hudson Radio corporation United Drug in Nickel U S. S Rubber and General Motors Prices Ease at Close A gradual casing off in prIce occurred near the close Motors weak weak- with Hudson down more than a point RaiLs lost early gains held barely steady Milling issue were mixed Chemicals declined as did steels oils and store shares Indus trial rayon equaled its low Interest in the market was at a low ebb Many traders withdrew discussions on the stock exchange bill scheduled to start in the house Monday Indications that automobile business was approaching Its peak for the spring led some to unload shares Stock sales were approximately shares against last Saturday Curb sales were shares against shares last Sat Sat- Stocks Drop 1 Week Stocks receded further this week in dull trading as the nations nation's leading lead lead- ing industries reported Increased op and the dollar regained losses incurred a week ago Principal reason for the stock market mar mar- ket uncertainty was distinct weakness weak weak- ness in a number of commodities Silver broke more than 2 cents an ounce in the futures market before selling was break came simultaneously with publication in Washington of names of persons hold ing silver The administration apparently sought to show that those who bad silver were showing more than normal nor nor- mal interest fri urging silver tion at this time The trading element came to the conclusion nothing would be done for silver at this session of congress and their holdings hold hold- ings to the detriment of the market Cotton Sold Heavily Without silver legislation It was argued there would be no further Inflation In- In and hence no incentive to buy or to hold commodities Cotton was sold rather heavily but the break there was attributed more to liquidation liquida- liquida tion of one large long account than to other influences Grains stood up upwell well while rubber futures soared on hopes of restriction plans Sugar ad- ad Livestock prices firmed Steel news was particularly good The Iron Age predicted that tho 1933 peak of 59 per cent soon would be crossed Meantime however U. U S. S Steel and Bethlehem reported substantial sub sub- losses for the first quarter irs the case of U. U S. S Steel the loss was smaller than anticipated In the case of Bethlehem the report a dividend on the preferred stock was still a long way off All steel reacted downward |