Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-03-02
NEW WEAK SPOTS
FOUND IN STOCKS
Sharp Breaks Again Today,
Along With Rallies, Add
to Uncertainty.
by STUART =. WEST.
Special Dispatch to The Star.

special DlSpdJCD TO ne Dtd4s
y NEW YORK, March THE stock
market was in an artificial condition
again today 1t was devoting its
whole attention to the question
whether the weak places in the specu-
lative structure had or had not been
patched up. on Monday the an
nouncement had been made that in
three of the widest performers
banking group had taken over me
overburdeued commitments OF the
speculative element.
The inference then was that llqul-
dation had been completed ana lnat
the stocks in question would RAINY
on the contrary, Foundation Co, on
Monday, had another 10-polnt smash,
American Brake Shoe went down
point and a half further. and there
was scarcely any recovery in New
ork Gamers.
Traders Are Cautious.
Naturally, therefore, the Street was
cautious as the trading began today
about accepting reassuring statements.
The disnoslti3n was to look for rally
simply on the ground OF the Yer!
heavy fall during the last month. But
while the general list was SteaQleT
from the start, further liquidation hao
TO be done in some of the speclaitle7.
At one time it was reported from the
floor that Savage Arms was BENG
offered with no near bld. Iheh cdllle
a six-point break.
General Electric, which had gone
down 6 points on Monday, continued
20 drop. United Drug was another
high priced industrial which suffered
II was off some 80 points from the
recent high. Woolworth, which had
crashed over 10 points on MONDAY
lost more ground. Dupont was under
pressure and so was American
Smelling.
Market Works Lower.
With the high priced industrlals
and other specialties having narrow
market going down, the rest OF the
list was very uncertain. American
Can appeared to be meeting with some
support. Oil shares were most of the
time only fractionally changed This
was true of the cOppers also and OF
the majority of the rails.
Louisville and Nashville, which had
been Weak feature on Monday, had
q fair rally. Stocks like Wabash
Texas and Pacific. Kansas City South
ern, along with Reading, Lehigh Val
Low and Baltimore and Ohio moved
within a radius of a half point. Chile
Copper was higher. while most of the
transactions in Kennecott were at
substantially the same figures. The
motor shares were better protected.
particularly Hudson Motor. General
Motor. Packard and WillyS-Overland
we're all inclined to go up.
Very Heavy Losses Noted.
Many were specializing as to the
extent of the recent decline in values
on the Stock Exchange and how much
of II represented real losses by the
nublic as compared with those taken
nv unfortunate weak pools which had
bid their favorites up to fabulous
prices and were unable to attract an
outside public Since the high point
of February II last up until the close
Monday, depreciation on the Stock
Exchange in stock values alone
amounted to $3.50, 200, 900. The
greater pat of this loss occurred in
high priced specialties which had been
he objects of severe attack.
American Can at Mondays final was
down almost 30 points from the years
high, American Brake Shoe and
Foundation Co. over so, Sears Roe
buck and WoolWOrth over 40 and Rem
inCton Typewriter more than 30.
The selling movement struck the
public utility shares in the afternoon;
stocks like American Water Works,
North American, Public Service of
New Jersey. Columbia Gas and Stand
ard Gas literally faded away. They
were having their share in the house
cleaning that was going 'on.