Ogden Standard-Examiner | 1920-07-27 | Page 11 | Price Trend is Again Downward

PRICE TREND IS I AGAIN GOURD 11 1 Heavy Selling Is Followed by New Low Records for Year I in Many Issues I NEW YORK. July 27 The trend of prices wns downward again at the ' opening of today s stock market. Sentiment Sen-timent among traders ancl commission jp houses with out of town connections waa IncreasingK bearish because of I the strained credit conditions. Cru- L cible Steel, ono of yesterday's weakest I features, recorded an initial loss of 1 1 points and other active industrials I were lower by fractions to one point. Mis were moderately supported, how- H ever. Royal Dutch gaining one point. jH Rates of exchange on London were IH Selling for both accounts became more urgent after tho opening. dea4- Ir.KS during tho noon hour swelling to the largest denominations In sev-rial sev-rial weeks. New low records for the year were made by United States Steel H and several other loaders. Lhjulda- tion continued to center in steels, equipments, motors and oils, and many affiliated specialties also gave way. Extreme declines ranged from 1 to almost al-most 5 points. There was little pres- H sure against rails, but the last as a H v. hoi,, lacked support even at pro- nounced concessions. Another money H flurry wns foreshadowed by the nine per cent opening rate for call loans. Activity slackened at midday when the shorts evidently found it advisa- If tie to convert their paper profits into cash This resulted in rallies of 1 to H 18 points, Mexican and Pan-Amcri- . ..n Petroleums, Baldwin Locomotive, H :&tudebnkor and United States Steal H leading the rebound. EM YORK STOCK LIST. t