Salt Lake Telegram | 1927-09-12 | Page 10 | Wall Street's Close Irregular

Wall Streets Street's Irregular C Markets at a Glance NEW YOUR Stocks Irregular Pennsylvania railroad American T and T. T and American Smelting reach new peaks mixed Erie I 4 rise nearly four point steady Jap- Jap sues 47 cents Cotton favorable crop outlook Sugar steady Cuban support Coffee higher firmer Brazilian markets ChICAGO larger cell cell- mates Corn favorable weather Cattle strong to active and higher NEW YORK Sept 32 Stiffen tug money rates brought about another Sharp reaction in today's stock Prices started upward at the opening with about twenty Individual pie pie- to new ground sold down when the renewal rate on call loans was marked up to 4 per cent lying tendencies quickly developed but dIsappeared when banks called bout in loans and sent the call rate up to 4 per cent the highest level since the first week in July Tite selling originated largely with professional who acted on the theory that the market wa In a weak technical position and entitled to toa a further reaction after the recent sus- sus tamed Leading commission houses while bullIsh on special also urged a lightening of long accounts and liquidation from that source dIed ac-dIed the volume of selling and defeated the efforts of pools to maintain the swing United States Steel common after du- du the years year's high of for the present issue oid down to Studs baker reacted from 63 to 60 and similar recessions took place in a number of ther standard industrial and issues A temporary outburst tf strength developed in the oil shares when one block of abates of Oil of New Jersey changed hands at 40 but the buying movement quickly died down selling increased the rest of the list Washington dispatches stating that President Coolidge had been by bythe the majority leaders of the United Slates senate and house of that no extra session of Was attracted widespread Interest in street but to have any effect on the movement of prices The closing was The heavy realizing and short ceiling of various stocks diminIshed somewhat to the final hour when the of stocks signIfied that powerful live again were at work United States Steel got up to again and many other resumed the advance whIch was when call rates bagan to harden Total ale ap- ap shares