The Waterbury Democrat., 1931-09-29
Persistent Selling Keeps Stock Prices
 On Steady Decline
I,sOO,O Shares Transferred Hands Up to 30 To-
 day-CottOn at New Low for B Years

3-S. All the foregoing were new lows for the bear market.
 In the utilities, principal shares made new lows with losses rang ing above points. American Tele- phone broke to 132 1-2 off 3 IA and a new low since 1925.
 New York. Sept 2s.-(UP)- United States Steel common stock broke to new low since 1921 at 74M off K in the early trading on 2 The whole list opened lower and dipped to new lows for the bear market in the subsequent transac- tions.
 Kreuger and Toll opened 10000 shares at 57s off 1ss and new rec shares at 20 off 2%, also record low.
 New lows for the bear market were made by American Telephone and Telegraph at 1s47a off 1A: Bethlehem Steel 29h off 4; General lo3ss off a; Allied Chemical s5A off K; Du Pont 63A off x; Gen. eral Motors 25T off K; and Sears Roebuck 40 off E..
 A few issues opened higher. but they quickly slipped back. Ameri- then slipped back point from the initial price. American Smelt-. ing, Atchison, Case and Interna- tional Nickel were among other is- sues opening higher.
 There was nothing in the imme- diate news to affect the market. The behavior of the list near the close yesterday was considered dis couraging. Some resistance had been shown by U. s. Steel and preached their bear market lows. but it took but little selling to break these levels in the early trading to-day.
 Once the principal stocks had broken their resistance levels, the port from Paris that the bourse was to be closed after to-morrow's ses- sion was construed bearishly. The bond market continued to drift down, Another factor working against thu. stock market. Cotton with the October position at 5.30 cents a pound.
 WOOL MARKET
 Boston, Sept 29.-UP)-The Bos- ton wool market report issued to- day by the local United States agri- culture department office follows:
 "The wool market is showing a decidedly more confident tone than at any time last week, despite slow trading and the recent development of labor difficulties in some New England wool manufacturing cen. ters. Private cables from abroad to members of the wool trade in this market are most encouraging. Price advances both in London and in Australian markets are reported to have nearly reached parity with the decline in the exchange rate of the British pound sterling. thus reducing the attractiveness of importing foreign wools to com pete with the domestic clip
 CHICAGO PRICES
 Chicago, Sept :s.-(UP)-10:45 prices: Bendix 16; Borg War l2hs; Insuil I2h; Middle West 10; Quaker Oats 1l6; Peri Circ 30H; Swift Inti 30N; U. s. Radio 13&.
 POUND OPENS STRONG London, Sept 29.--OUPl-Ths pound sterling continued 10 strengthen to-day, opening at s3.3l compared with yesterdays opening at s3.77h and high of '$3.92. Other foreign exchange rates were: To-day's opening Montreal s4.22h; French franc sSH; Italian ira. S0lk; German mark 16. SUSPEND GOLD STANDARD Copenhagen, Denmark, Sept 29.- (UPJ-Thc Danish Folketing passed a bill to-day suspending the gold standard until November 30. The suspension followed similar action by Norway and Sweden and was recommended by the govern ment after conferences with off