New Britain herald., 1929-11-12
s t e a dy Downward Trend Forces Losses From Sl to Sl2 a Share Larger De- clines Registered for Inactive Specialties.
Business Heads Take Steps to Halt Persistent Move ment by Extra Dividends Turnover in Three Hour Session 6,542,770. Shares Today.

New York. Nov 1s LPl-The stock market closed at a new bottom today after a fresh flood of liquidation had earned prices of scores of leading issues down $l to s12 a share.
 Larger declines were recorded in. few ordinarily inactive specialtios. One hundred stocks sold at new low prices for the year. The ticker was running more. than an hour late. N hen the closing gong sounded.
 Large Blocks sold
 Several blocks Of 10000 10 20,U00, shares appeared in the closing deat- ings. as Wall street continued to dump overheard it's weakened specu- lative accounts. Hundreds of alarm. ist rumors were again circulated through the financial district and leading commission houses were kept busy issuing denials to inquirers all over the country.
 Business executives ContiYued to take measures to restore confidence iii general business, Directors of the General Asphalt Company todayAda- Clared an initial quarterly dividend of S1. Pro- phy-lactic Brush Company declared an extra Of 90 cents and the rev common stock of Best & Co.,, I vas placed on a s annual basis.
 Total sales On the New York Stock 1 Exchange, including inactive issues were 6.542.770 shares. or nearly , double yesterdays total of 5,36I,15a shares. i Sym pathetic declines took place in the commodity markets which al- so were subjected to heavy specula- i tive selling. Cotton sold down near ! ly $l a bale 10 new low levels for, i the year in New York and wheat, prices broke about four cents a | bushel in the Chicago market.
 List of New Lows 1 New low records for the year were established by nearly hundred, stocks. The list included [. s. Steel. common. American Can. General Electric. International Harvester. National Biscuit Sears Roebuck.. International Business Machine,i 1 Western Union. May Department Stores. Gillette Safety Razor Com- mercial Solvents. Air Reduction, ] Warren Bros, First National Stores; i American Power X Light. Northern, ! Pacific. Central Railroad of New Jersey. New York Central and Mis- souri Pacific preferred. In the secondary break, Westing- 1 house Electric fell from stc5 to $l10.12. |. s. Steel common from $l6$.5o 10 sl53.5O. General Electric from S1@5.5O to S1S4.50 and Ameri-l can Telephone from ScO9.75 to $202.25. Peoples Gas dropped s29.5o. a share. Partial recoveries took place from the low levels in the last hour.
 No Reasons Found
 Tnday's break, like most Of thoss which have preceded it, was not as-, sociated with any developments in the days business or financial news. Wall street brokers generally ac-i Ceptcd the selling as evidence that, distres liquidation, which has been; ovorhanging the market. has not yet been completed. Each fresh f1ur-i
 
 counts, and compels the closing out. Of those which cannot immediately be strengthened.
 Closing quotations on some Of tho. leading shares traded on the curb. exchange follow: Associated Gas A" S3S. off s5;, American Cities "A" $SO.S7. off sl.-. %7: American Superpower SIPS, off $@.50: Allied Power X Light S$1.75.l eff S2.23: Cities Service s25.50. off >4; Goldman Sachs Trading SS6.S7. eff $$.%7; Transamerica s40.75. oft Se.12; Lehman Corp. so. off S6.25:i Middle West Utilities (new) S9l,-' N7ia, off SIP; Niagara Hudson
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