Salt Lake Telegram | 1927-06-26 | Page 21 | Weakness Crops out in Oil, Copper Shares, with Many of These Leading Issues Registering New Lows for Year

Vi Weakness Crops Out in Oil Copper Shares With Many of These Leading Issues Registering New Lows for Year R Railroad Equipments Rise on Talk of Big Orders on Hand Four Successive Deficits in Reserves Is Without Precedent Precedent Prece Prece- d dent nt Clearing House Officials Report Is Not Held Significant N NEW W YORK TonT June 25 By the Associated Press The Press The stockS stock market I al alternately ern tely blew hot and cold today with final price quotations disclosing widespread ad irregularity Trading which was relatively light in In volume w was ws s almost entirely professional in character probably as a result of the c ca nary advices ot of some of the larger Commission houses ag against adding to c at this time Total sales were the smallest of any holiday half session since November 20 O 1926 Th credit cr situation aton came to the fore r again when the we weekly clearing clearing h house use statement Issued after atter the close ed the fourth con consecutive consecutive sect sec sec- t v deficit in reserve amounting I It t to as a. a compa ed with wih a 1 d deficit of at f the w week pk b tir tor fore Earlier in the jn laY day T a more 1 cheerful 1 sentiment rf ree the tite cr credit ai outlook had been cen created by bythe bythe bythe the fact ct that tat new bond l this week had shown a sharp shrinkage Jn in n volume And ind nd that that call cal Y hel held steady T yesterday esterday at 4 p per pr r cent Ih th the face of a previous i of o time money rt rates s and nd thc the approach of ot month-end month s cattle cattle- te 1 ot V Weakness Weal akness again cropped out in inthe th the tho oil on and topper copper shares today as asa a a result restI of the unsatisfactory trade conditions New low prices S for the year yeat were te re registered lster d by Anaconda Chile Chie C de P Pasco co 1 evida v and andRay Ray Hay Coppers Copiers Copters and nd Marland Oil on lips P Petrol Petroleum Um General A ph 1 common and preferred and H Beacon acon Hill R Railroad d equipments continued d their rt rise on talk of or bi bit orders on l Hand ln iri iti pro prOp prospect p ct Baldwin r LocomotiVe locomotive loco Loco- oco- oco motive moU touched a a. new record high for all l time at at t 32 2 and General Ral Railway ay Signal Sig-nI Sigal attained a new peak rel at at 1211 11 7 Bullish demonstration demonstrations tl tion ns also were In Am American Agricultural Chemical al preferred Ton Jon Jones s Bros T Tea a Oil 01 W Well l Mullins Body Virginia lnla C Carolina tolna Chemical issues lues and Weber and Heilbroner R Revival of o activity and strength in Jn some of the l priced low w shares I p particularly rb V Western tern Pacific Chicago Chi Chi- ca cage cago o tk East Eastern rn Illinois preferred Soo oo preferred and Western estern Maryland Maryland Mary Mary- land f featured th the railroad group G ak Ohio closed a point higher despite despie the rather pessimistic ls tic tc forecast of earnings by Pr President Harahan ClearIng house hous officials repotted reported that four successive deficits in re reserve reserve re- re serve had never before been reported report report- ed but attached d no special significance cance ance nce to tl the occurrence Aggregate reserve reserve total totaled The de detailed detailed detal de- de tal tailed d statement of actual conditIons conditions conditions condi condi- this day showed a gain of 5 5 In time deposits but but d de- de eases ases In all of at the other principal 1 Items m L Loans Lans ts discounts and investments Investments invest invest- Invest Invest- ments dropped doppe cash In own own n vaults reserve reserve In the federal federal re reserve re bank of member banks and net net demand d deposit Outside of the establishment of another r n ne new w high since 1920 In Italian Ital Ital- Ial- Ial ian in lr lire at 1 2 1 cents and a 3 25 poInt drop in Japanese yen to I cents there ther were no dev developments i Of Imp importance in fOr foreign exchange trading Demand st sterling and F tr francs held steady around 5 5 16 and 2 hed 2 1 cents r spec spec- elY U. U