Show WEEK OBSERVES STOCK DECLINES Selling Movement Is Influenced In- In Influenced By Many Factors NEW YORK Aug 21 Ey 21 By The I Associated Weekly Press Press Weekly I Finan-I Finan Financial cial dat Review Stock prices under under- underwent underwent underwent went a sharp downward d revision this week In reflection of ot Wail Wallstreet's 1111 streets street's concern over the tho brokers loan situation end and nd speculative fears fean that hopes of further mel on cutting this year might not materIalize Whim While near Dear traders hammered stocks at every opportunity an and 1 on every pretext Brok Brok- Brokers Brokers ers etc also reported a large luge volume of liquidation by email small traders and Investors ton some of which Un- Un Undoubtedly un undoubtedly was Inspired by the advices of some of the larger commission houses The departure for tor Europe of several prominent bull operators also is II believed to have havo Influenced some or of the selling PRESSURE INCREASED SED The Tho selling movement started on the tho announcement that dIrectors of tho the Standard Oil company or of New Jersey had declared only the regular dividend on the common stock Wall street having ha been led to believe that plans would bo be an- an announced au- au for tor the retirement of ot the preferred Issue through the sale salo of new common stock coincident with an Increase In the tho re regular dividend Pressure Increased dur dur- durIng during ing log the middle of the week on publication of the tho financial news rs of ot unofficial intimations that directors of the tho United States Steel corporation would not do- do dare da-dare clare dare a stock dividend at eIther the October or January meetings Another unfavorable factor actor was the circulation of rumors ques ques- questioning ques- ques questioning questioning the tho solvency of ot a larg large financial Institution In no WilY way connected with Wall street INDUSTRIALS LS lilT HIT Selling pressure was directed chiefly a against the tho popular indus Indus- IndustrIals industrials trials which have been the lead lead- leaders Cr ers era of the recent advance United States Steel common after atter establishing lishing a a record high at 15 earlier In the week broke broko below yesterday but snapped back to General Motors which had sold above a couple of 01 weeks ago 00 was driven below Sharp recessions from recent high levels lovel also took toole place In such Is- Is Issues Is Issues sues auca 5 as Allied Chemical American i Smelting CaJe Threshing Machine 1 Du Pont General Electric U S Cast Iron Pipe and Woolworth Meanwhile new peak prices for forthe orthe the tho year were being recorded by bya bya bya a wide assortment of or specialties IncludIng IncludIng- American Sumatra To Tobacco bacco certificates certificate United Cigar lr Stores American Druggist Syndi SyndI- SyndIcate Syndicate Syndicate cate American Safety Razor Arrow Arrow Pierce preferred New York It R Ii H Macy and Inger- Inger Ingersoll soll Inger-soll soil soll Rand SOME SOIE DISAPPOINTMENT DIS The Tho weeks week's business news wu was mIxed In character Some Somo uneas uneas- uneasiness uneasiness iness mess was felt on the report that steel operations had fallen below 80 per cent of capacity this week for tho the first time In several months and that large largo shipments of for for- for foreign cl eign n steel were w re making their ap- ap appearance ap appearance at leading eastern ports A A cut In certain graMes gres of Texas to crude crudo was a disappointment th those who have been looking for for- forward forward forward ward to an oil market Freight car loadings were maintained however at record levels and leadIng bankers and business men are aro quoted as being optimistic over the outlook for fall business Rails Ralla lot lost ground with Indus Industrials trials but special buying move move- movement movements movements ments ment developed In a select as- as assortment assortment as assortment of Issues particularly In Inthe Inthe Inthe the and Northwest Northwestern em ern groups |