The Waterbury Democrat., 1931-09-09
After More Selling
 Leaders In Market
 Got Some Support
But Most of Them Went to New Lows, Before Help
 Came Whole List Was Kept in Uncertain State

Sporadic selling attacks kept the list in an uncertain state, but the market did not move far below the previous levels. A renewal of the general decline was threatened shortly after noon when Steel com mon dipped nearly to below 80, it's lowest price since 1921.
 important buying under this psychologically important support level stemmed the selling tide and the market was orderly through mid afternoon. Recoveries, how ever, were small and the market gave no indication of having re- versed it's trend.
 Another flood of important sell ing in leaders such as General Mo- tors, Du Pont, and the food and utility shares prevented rallying tendencies from developing and served to offset the demand for stocks for covering purposes. Most of the buying was from this source as traders realized large profits ac- culated during the past week.
 Tn the absence of new buying, trading activity dropped below yesterdays two million share pace and ulcers dragged along. at a tedious speed. While indicating the absence of further urgent seil- ing pressure, the lessened activity also was interpreted as showing the limited demand for leading stocks.
 eral dull market was the new ad- vance in the gold mining shares. Led by homestake mining, which scared a dozen points to q new high for the year at IA, the ex- changes other three gold issues, Mcintyre Porcupine, Dome Mines and Alaska Juneau revived ana were turned over in good-sized blocks.
 Tine Railroads shares against gave an unsatisfactory account or themselves, influenced in part py the reduction of the New York Central dividend from $6 10 S4 annually. Many, including Forth Western, Pennsylvania, union ra- cific and the St Paul issues sunk to new lows. Utilities derived lit tic benefit from the less urgent selling and continued downwara'
 EARLY MARKET
 New York, Sept s.-(UP)-Except for further scattered ceiling in the ssiaeaS ssoes n.rf. aas dspissyed :i,lss sssads '0 Fractional recessions occurred in most of the leaders but the market developed c better tone after the initial selling had been ansorpec. low of yesterday at soM on q Y point recession, recovered to sl. Similar comebacks occurred in other industrial leaders.
 Moderate losses in many Of the rails were sufficient to send them these tS I' issr issues SeS were Northern Paclft, Pennsyivania, Union Pacific sna Canadian Pacific. New York Cen tral held close it's 70-year low of 6OM pending dividend action by d. rectors on it's current SC annual pay " Utilities again showed lack of i'm portant support, leaders breakins from fraction to more than point. Consolidated Gas the larg- est loser. Further important pres. sure made its appearance in united Corporation, International Tele- Power. The good feeling aroused by the unexpected declaration last night of the regular $2 Western Union dividend was lost and that stock sold off 1h points to 105 h:
 The market was little affected by the mid-week steel reviews and car loading report, the improvement re- suiting from conditions within the market itself. The steel reviews noted little improvement in steel making operations pointing out that. the past week established another new low in the volume of ingot pro-
 The car loading report for the week ended August 20 showing a small increase over the previous wssk was not favorable inasmuch ss the increase was smaller than had been looked for In view of the ssAsonal expansion of business &C., tivity.