Show STOCK PRICES PRICES- BREAK SHARP SHARr Fear of Higher R Re Recount count Rate Scares Bu Bt Buish Buish ish Speculator Speculators 1 By STANLEY W. W Associated Press Financial Et Ed NEW YORK April Apri 3 CAP Ar specter of higher federal re re- rediscount rates rate arose In Wall Wal gagain g a again today to haunt for the advance and stock p broke sharply after an early erly p of strength Oils Ois were under under-I 1 dation daton from the start as ns a reS resu Washington advices that the thel posed wide nation wIde naton-wIde oil 01 curtail agreement would be In lii the Sherman antitrust act act l losses In that group ranging 1 I 1 to 5 I points Early advance 1 to nearly 10 points In the get gel list were cut down or wiped and a long a-long long list ls of issues points pInts below belo yesterdays yesterday's final I Credit conditions continued t Call Cal money renewed at 10 10 per but banks called caled In inland l land and the supply of of fresh funds so scarce that the rate threat to go higher Time money quoted at 8 2 1 to 9 I per cent centT Wall Val street was not at the increase in stock change member loans to a n new record the fact that that the thes' thes nearly 50 10 per cent higher th year yer ago causing cusIng some In conservative quarters J 1 Several of the leading oil 01 si ah lost all al the gains re recorded ye e day on buying Influenced by hope that federal authorities v approve the curtailment the American Petroleum President Reeser of of the e expressed the belief that the ament a s ment of the attorney general v n not ot have the effect of stopping c curtailment movement althou may retard Its complete sue Houston dropped 5 points It Ir Refining 3 2 1 Mexican Seabo and Texas company Skelly I Ifield 1 field f Pan American B. B Mar Mar- Prairie Standard Oil of j and Atlantic Refining all fellI 2 points or more before the w sa movement as checked j J Steel developed strong resist to selling pressure as a resu resul the encouraging statement of 1 ident blent Grace to the Bethlehem si it holders and the optimistic n na of the weekly trade reviews Age states that following a rec breaking quarter Iron and steel auction shows no no signs of de dec ing with the outlook dart dark only by the fear of a general lapse in the securities market Express shares developed ext buoyancy although the gains recorded In the early ira were not maintained Adams EC so 50 points and broke 25 25 and andA A Alean Alean lean Express jumped 34 2 1 p and fell back nearly 6 11 i Wright Aeronautical Jumpe points to and then tumble International Telephone hammered 7 2 1 points below nights night's close A. A M. M Byers 5 Greene Cananea Copper 4 2 1 Canadian Pacific Anaconda Montgomery Ward each dropp points selling of the last last m being Influenced by the repe liquidation of the Merseles hold Midland Steel Products Baldwin Advance Is Curtiss and Bethlehem Steell prominent In Inthe the early advance the gains were not maintained slow recovery started in the i afternoon but trading turned on the rally J |