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Show STOCK MARKET BREAKS TO NEW LOW GROUNI) SINCE 1935 DROP FOLLOWS FOREIGNSLUMP By ELMEB a WALZES United Prsa FlnautciaJ Edltar ' NEW YORK. Oct 11 Stock broke 1 to polnta Monday, carry -Ing the average to new low ground I nee 111). Bonda dipped, with the -Dow-Jonea average for 40 bonda at a new two-year low. Wheat and corn made aeaaonal Iowa, the for mer cloatng down 1 7-1 to 4 cents a buahel and the latter down 1 to l cent. Cotton future loat M cent a bale. The stock break her followed a dump In London, Paris and Am-aterdam. Am-aterdam. Price were off fractions to more than a point at th outset. They rallied slightly and then resumed re-sumed th decline. Bualnea news was featured by th weekly report of th American Iron A Steel Institute, which estimated esti-mated the ateel induttry operating at 61.6 per cent of capacity, againt 66.1 par cent last week. It was th lowest operating rat sines March 30, 1(36, and reflected further falling fall-ing off In order for heavy stl and disappointing llghtneaa in order for the automobile industry. Foreign markets wero upset by European developments, Including Prance's chang of attitude on th Spanish altuation. Amarican lassos were heavily aold In London. Account from Wall Street said that mors than half of th accounts on broker1 books war restricted by th market declln thu far. Holders of stocks in many Instances In-stances ' have placed Mil order illghtly abov th market and hence, If a rise do develop, Wall 8trt looks for new selling t develop. de-velop. Some evening up of accounts was noted In advance of th Columbus day holiday Tuesday. All market In New York will clo and so will th banks. They will reopen Wednesday. Wed-nesday. Foreign markets wlU function func-tion as uauai |