Show CONSERVATISM ATIS r IS ISTONE ISTONE ISTONE TONE OF MARKET NEWl E YORK ORK May Duns Dun 3 Duns to- to today today to today day sass sa s Restriction of ol demand antI and de- de decline dechine de decline cline chine of prices still mark marl busIness as n new new w month opens April r brought a distinct contraction or of 41 1 activity In various quarters as ns re- re rel ree reports re reports l e ports po and sl sh she shive e sho shown 11 and working forces as output In basic Industries I is curtailed Production had run beyond con con- consumption consumption con consumption In different Ines with Ith cautious bu buying Ing the lule ulo nn and for nIne consecutive weeks reductions hive hiVO h e rt T J in n Hat lof lot of wholesale quotations Lower prices than prevailed a n year ear ago I In Iron and steel lumber some ome raw materials lId cud finished hed goods leather and In some ome other commodities do 10 not for tor- forward for forward ward purchases most moat transactions being of a spot pot nature and usual usual- usually Iy ly In moderate amoun s- s aThe The with with- withholding withholding holding of orders In borne orne eases raes Is due clue to an nn expectation of further concessions but In iii mot Instances It reflects the conserve result re resulting ing Ins from political uncertainties 1 with the deia delay in relief from Crom high taxes the hesitation III making new rr s Weekly bank clearings 8 3 |