Ogden Standard-Examiner | 1920-04-22 | Page 12 | Stocks Decline on Pressure

STOCKS DEME I Nervous and Unsettled Opening Open-ing Followed by Losses in Later Dealings NEW YOJIK, April 2-2. Slocks were nervous and unsettled at the opening: of today's session, but many of the speculative issues which sustained sus-tained severe losses in yesterday's violent vio-lent decline recorded substantial recoveries. re-coveries. General .Motors nuido an Initial gain of 5 points, which was soon extended to 10 points, and Crucible Cru-cible Steel, Baldwin locomotive, American Woolen, United States Rubber, Rub-ber, Pressed Steel Car, Vanadium and Kcploglc rose 1 to 3 points. These advances ad-vances ,wero offset by further reactions reac-tions of 1 to 5 polntx for Mexican Petroleum, Lackawanna Steel, shippings ship-pings and sugars. United States Steel also sold a fraction under yesterday's! lowest quotation. Liberty bonds weroj In process of further liquidation, with, new low records for the second 4,,i's,j third I'.'s and fourth 4U's. j With the progress of the session, ' the professional character of the mar-, ket became more obvious. Shorts dl- reeled their attacks largely against j United States Steel, which was offered' in round amounts down to 96 H:. a loss, of "1 Vi points. General. Motors for-! feited its partial recovery and some! j leaders of yesterday's reaction estab-! estab-! lished lower records. The decline was j orderly in contrast lu yesterday's ex-, I cited dealings, but little support was! manifested except at marked concessions. conces-sions. Pressure relaxed appreciably before noon, as call money opened at 7 per cent. Sales up to that lime ap-prox-lmatcd 1,000,000 shares. Further recoveries during the in-termediaie in-termediaie session carried several leading stocks far above the best prices of the morning. Actual gains of- 3 to almost 15 points were mado by Ceneral Motors, Baldwin, United States Rubber, Replogle and Corn Products. Call money was freely supplied sup-plied at the opening rate.-