Evening star., 1926-10-15
LIST TAkESDR0P :.
. IN STOCK. MARKET
Losses Extend From Three to
J Five Points in Numer-
GUS Instances.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK, October 15.-Pfices
broke again on the Stock Exchange
today. Very sharp declines occurred
in the industrial section, the losses
extending to 3, and points in nu'
n1erous instances. .+-
Supporting orders came into play at
the low level, bringing about moder'
ate rally. But this was followed by
renewed selling in the afternoon.
THE rails were quite as weak as the
aterage of the induStrials. Chesa
peaka and Ohio broke points. re-
bonnied, then sold off again. Atchl'
SON. was off over . points, Northern
Pacific a point and Missouri Pacific a
point. The high-priced Nickel Plates
broke sharply, and the Eries were
lower. 1t was evident that the buy
inc. movement in the Van SWerlngen
stocks. which had been such TEA
ture Thursday, had been checked.
Baltimore and Ohio was selling eX-
dividend of y per cent and, allowing
for this, was holding remarkably
steady.
United States Steel common crashed
down from Yesterdays close at 1882
to 13912. 1t rallied above 140. but was
freely supplied whenever bids We're
IL.
less favorable and this has counted in
changing Wall Streets attitude to-
ward the steel shares. At the same
time II is realized that speculation for
the rise in the steelS was quite over
done because of the fact that too little
heed was given to the feature of low
steel prices. .
Colorado Fuel was down over
points from it's recent high, while
Youngstown fell another point and
half. The weakest stocks in the in
dustrial quarter outside of United
States Steel were Woolworth, Allied
Chemicals, Baldwin Locomotive, Pull
man, Electric Refrigeration. which
made a new low for the year. after
having lost nearly 8 points; Coca Cola.
General Electric, United States Indus
trial Alcohol and Consolidated Cigar.
General Asphalt was the particular
weak spot among the oils. National
Supply came down nearly points
from it's top. Atlantic Refining was
lower and Phillips Petroleum. which
had closed the day before at 47&, was
actively sold at and just below AZ.
The motor stocks-that is, the ma
tority of them-had bad time follow
ing the announcement of the cut of
500 per car by the Hudson Motor
Co. The stock broke severely for a
time, getting down over s points. This
was enough of a fall to induce short
covering. The action of the Hudson
Motor was in line with most of the
evidence which has been given out
from automobile trade centers during
the last month or so. 1t plainly in
dicates period of increasing compe'
tition. Moon Motors, which recently
cut it's dividend in two was down to-
day over points to a new low rec.
ord for the year White Motors, which
had gone up yesterday on talk Of very
good earnings lost quite a part Of Its
gain. Mack Trucks continued weak,
being slow to rally from the 6-point
decline the day preceding. Du Pont
went along with the other members
of group.
In. the leaders of the list such a
rally as occurred around the noon
hour was quickly lost. Special ef
forts on the selling side were directed
against General Motors and United
States Steel. The former dropped be
low $50 again, and the latter sold at
it's lowest Of the day.
Union Pacific was off points. New
Haven lost all the ground gained dur
ing the squirt toward the end of last
week. The public utilities bore their
share in the general decline. 1nterna-
ttonal Telephone & Telegraph, Con
solidated Gas and North American es-
pecially Columbia Gas was relatively
firm. Studebaker at one time was OIL
nearly points.
Wall street did not like the motor
shares, although admitting that IN
their recent big decline they had done
a lot toward discounting the present
competitive condition.