New Britain herald., 1929-11-13
EXCHANGE TOUCHES
 NEW LOW LEVELS; LOSSES REACH S2O
Close Sees Scores Of Issues Far
 Below Years Record Bottom |
 Prices Once More 1
DISTRESS LIQUIDATION
 FORCES STEADY SALES

'. $. Steel Battered Down In Per
 Sistcnt Raid-Rumors of Deter mined Bear Attack Denied By
 Livcrpore-Morc than 300 Hit Depths Never Before Seen In 1929
 Members to File Statements.
 New York, Nov. 13 P>-The stock , market closed practically at the bot tom today after another storm of distress liquidation had carried scores of leading issues down $1 to | $2" a share.
 Closing quotations and net chang es of some of the leaders were:
 |. s. Steel $l51.5o, off $2; Radio S2S.75, off Sl.75; General Electric SIS. off S11.75; General Motors S5612, off $2.%; Johns Evansville ,. mp $1.50; Anaconda $70.5O, off $G.- 5o.
 Ask Daily Reports
 The New York stock Exchange today called upon all it's members to file a daily statement of their posi- ' ttion, giving a list of stocks borrowed and from whom, a list of stocks loaned and to whom. an account of intra office borrowings and list of . stocks they have failed to deliver. While no official explanation of the request was issued by the eX- change, it was understood that the action was prompted by desire to learn as nearly as possible the exact condition of the market. primarily regarding the short interest, and how large a factor it may be in the decline. The exchange has not made such a general request since 1917.
 NeWcomb Carlton, president of the Western Union Telephone company, stated on sailing for brief business { trip abroad that the company was ooing a satisfactory business and that net earnings for the year should total around l6,000,000, or about ,$l6 a share on the common stock.
 General Foods Hit
 One block of 62,200 shares of General Foods changed hands in the late trading at $40.25, off $2.75. = The stock exchange has not sub mitted such a general questionnairc to it's members since April of 1917. While exchange officials would not comment upon the action, it was un- derstood that it was prompted by desire to learn how much short sell ing has been going on during this weeks perpleNing decline, and to what extent marginal accounts have been impaired and liquidated. The questionnare will give officials of the exchange a graphic picture of the state of members accounts.
 Total stock sales today of 7,761,- 450, including inactive issues set new high record for an abbreviated three hour session of the New York sTtock exchange. This compares with total sales of G,452,700 shares yes terday and 3,367,150 shares on Monday.
 The previous high record for a three e-hour session was 7,1S4,060 shares on November 1
 300 Hit New Lows
 More than 300 stocks. including American Can, |. S. Steel common, General Electric, International Telephone, Sears Roebuck, Union Pacific, Baltimore & Ohio and Southern Pacific. sank to new low levels for the year. TOday's closing prices, in many cases, represented only fraction of the years high levels, several of which were estab- lished as recently as September.
 Detroit Edison and I.aclede Gas each broke S20 a share. American Machine X FounVy $16.5o and Michigan Steel Southern Railway, Chile Copper, |. $. Industrial AL cohol, American Can, St. Louis Southwestern, Norfolk &c Western , and Pcre Marquette sold down s1O 10 s15 a share, with little recovery If any, from the days loV levels.
 Closing quotations and net
 (COntnued on Page Two)