New Britain herald., 1926-03-24
STOCK PRICES IN
 SUDDEN DECLINE
PessiniStic Report on Spring
 Business Starts It

New York, March q Up,-S'ock prices broke sharply today under q flood Of selling orders for both ac- counts, pesslmis,!c reports on ,h. nature of spring business d higher call money renewal rate, the disap- pointing 1925 earnings report o( 'hr General Electric Co, failure O. the directors ot the Republic Steel Co, 10 authorize the resumption Of dtN- dends, omission of Pittsburgh Coal preferred dividend and tho establish. ment Of another new low level by French francs were all contributing factors In tho days selling,
 Failure Of the constructive inter. ests 10 support the market at critical stages and the establishment of q new low level for the year by the in- dus'rla, averages resulted in heavy liquidation hy tired holders of long stocks, many Of whom had supported them in the drastic reaction around the first of the month. The swift ness Of the decline resulted tn the touching off Of number Of stop loss order and the closing cal, Of weakened marginal accounts.
 American Can Gold stock) scored an extreme decline of "a points at -it, bringing it nearly ao points be- low tho years high Dupont hrokc "a points ard over a score others sold down "a io points. A partial recovery rom ihN low levels took place in inc carly afternoon. but thc rally Was not very impressive. Trad ing showed a substantial increase in volume, total sales in the first ,hrec hours exceeding lGo0.C .Cno shares, or about 30o, ,oon moro than in ycster- days full session.
 Wl'h prices Of some oS tho motors and nigh priced shares going tO pieces, nothing seemingly would stand up under the waves of selling which swept over the market and carried over a score of industrial shares 10 now low prices for tho yaar. American Can (old), General Electric ani Dupont declined 2 points National Tea l.. Mack truck and Sears Eoehuck :. Atlantic Coast Lin" 6l9. L. s Cast Iron Pipe G., United Fruit 5l. and Woodwork, International Harvester and Ward Baking preferred X 3, Marking m of the renewal rate on call loans to 4ss per cent intensified the selling movement. St. Louis Southwestern made an exceptional advance of 1 points but soon reacted.
 Wall Street Opening
 ' Pronounced rcacfonary price ten. dtncies developed al the opening of i todays stock market, General Flee tric dropped points to a new low record to" the year at 30l F in re- t'ection ot speculative disappoint- mont oeyr 'hr 1925 report showing smaller ,."nngs than the year be- for, New l9G6 lows also were es- ;ab'iSh"d by Sears Rocbuck, Mont gcmcry Ward, American Can tnew) and Coca Cola. Initial losses of . point or moro also were recorded b> . puPont, American Locomotive and Central Leather preferred
 Selling assured huge proportions soon after the opening with shnrr breaks taking place in a number of | the high priced industrial specialtips. Rcarish sentiment was created by reports of a slowing up in various lines of business and hy the govern nentS investigation of recent oi, mergers, Rails offered strong re, 1 SistanCo 10 selling pressure, Clt sa- Neake and Ohio being one of the few issues 10 record any apprecithle loss in the first half hour, Dupont and General Electric each extended their carly losses to points by touching eos and 29S1s, respectively. Soars Rochuck, Woodwork and Saw ago Arms slumped 8 10 45l? points and May Department stores, Pressed Ste"l Car, Hudson Motors, Muck Trucks and Case Threshing Machine were among the issues to sell of 2 of selling Foreign exchanges open cd irregular, French francs sagginG points to a now low record for the year at S.4SE2 cents, or within : points of tho lowest prices ever es- tablished. Demand sterling held firm around S4S5 7-S. Norwegian krone rallied ! points,