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Show PROFIT TAKING ON WAIL STREET NEW YORK, Aug. 3 The stock market today disclosed its narrow limitations under conditions as they exist. The harp rebound of tho day before teemed to exhaust tho demand from the shorts and ther"e was none forthcoming of a more positive na-tuie. na-tuie. While there was no renewal ct the urgent selling which ha3 aroused arous-ed the suspicion of forced liquidation from time to time, there was a pressure pres-sure of stocks for pale to realize rrofiu on tho rebound of yesterday. Sales were la moderate volume, but the demand had become bo feeble and languid that no absorptive medium med-ium was provided and prices gave wiy. Before tho close of the day the requirements of the uhorta asserted as-serted themselves again and caused a recovery of most of the day's declines. de-clines. Tho news offered no ftrlklng changes In condltloos bearing on values. val-ues. The growing crops hold a large Bharo of attention. Early reports of ruoro high temperatures in Texas were succeeded by assertions that c'oudy and cool weather had developed devel-oped there. A good Impression was mado by the reported assertions of Chicago bankers that the balances of country banks In the western reserve centers are being largely replenished a. a result of the liberal movement of wheat to market. Study in detail of the banks relatlous to the romp trollcr affords reassurance as to the reserve position of the country banks which aro responsible for the loan expansion ex-pansion of three months prercdlng June 30. Rumors of price cutting of steel products by Independents were accompanied by a supposition that the United States Steel corporation would neet the cuts. The selling of Unlt-e Unlt-e States Steel was a decisive sympathetic sympa-thetic influence ou the general Met. The rally in that stock afforded cor-responding cor-responding relief. The dealings in It, Union Pacific, and Reading accounted ac-counted for over half tbe day's busi- Bonds wero Irregular. Total sales, $1,444,000. United States bonds were unchanged unchang-ed on call. |