Show STEEL STOCKS SET NEW HIGH Oil Baking Tobacco and Packing Issues Depressed NEWS E YORK April 1 BY By The Associated Tress Tho Tho persistent demand for lor United States Steel common which touched another other new record high for all 1111 time a a. temporary setback In the rails ralls on wiling lelling Inspired by the I. I C. C C. C de de- decision decision de- de cislon in the tho St. St Louis OFallon case cao Q O and tho the renewed s of ot oils baking baking- tobacco and packing issues ues were ere the high lights In to today's to- to today's days day's Irregular stock market With Will Hit approximately half a alion bil bU- billion bUlion lion dollars being expended In the the- form forns of oZ quarterly Interest and divi dividend payments pa-ment pa and only a rel- rel low 10 yield obtainable OIl 01 high grade bonds It was regard regard- regarded ed as natural that Investment funds should hould find their way Into tho stock market Steel common apparently was being accumulated on the tho theory that the present 7 H T dividend dl would be maintained on the thu th new nelV stock which also al o touched touch ell a a. record high hl h around 13 and that an extra cash disbursement was likely this quarter quartel Mon Money was in supply at t the renewal rale rate oi ot otI o 44 I per cent and there was IUS as asno no calling of oL loans lo ns such as aa a had occurred on all lous previous days of this week neck Liquidation of oC the ralls rails inspired by tho decision resulted In early losses of OC 1 to 1 points but most of oC these were Mere made malle up by byearl early earl afternoon with a few rials showing conspicuous strength Hock flock Island common Jumped S 5 points to a new high record 1 at 2 on rumors that some other road was to wrest control from the Frisco but these lacked lack cd confirmation International Silver and Nation National al 11 Lead with extreme gains of oC 8 S Sand and 5 r points respectively touched prices never reached be be- be fore forc Continental Baking issues w re again under pressure the A I Istock flock stock dropping 44 4 u points and the 5 i. i Cudahy Packing 1 and se cral se eral of or the oils also reached new low grounds but Houston I showed Independent strength The closing was Irregular Eric Erie c cc ci cased c ed 50 SO to tho the highest figure c i In ii more thin than 20 0 ea while some c of or the foods stocks were ero sinking n ii II ply Continental flaking Caking lre red slumped 13 to 72 but hut i allied alliedo L 40 o 78 is California Packing and L Cudahy lost 3 3 H each American Woolen preferred went down to tc C the record re Mean Mean- Meantime Meantime time Chesapeake Ohio Norfolk X t. t Western Vestera and other Investment In nt sturdily rails were vete moving up imp Commercial Solvents 13 B jumped 5 points Total sales Eales approximated 1 shares 2 |