New York, July 27.
Liquidation as more or less general at the initial call on the stock exchange to-day. Most market leaders suffered losses from fractions to almost one point. After a short period when prices continued to decline on small-scale selling the market steadied somewhat on short-covering. At the end of the period under review, practically all sections still showed fractional net losses.
Short-covering was in evidence at the opening of the cotton market and December contract appreciated eight points from previous final level to 10.98. Prices continued to improve on renewed demand, with December delivery advancing a further six points to 11.04.
A fair amount of selling pressure depressed rubber prices at the outset, with September option declining fifteen points from yesterday's close to 1823. As trading progressed, the market showed a tendency towards steadiness with covering attracted on the scale-down and September contract recovered 2 points of the origin-ai loss to 1825.
The wheat market in Chicago showed consistent strength during ihe period under review. Opening with a rise of % cent from last close to 116%, September contract improved a further % cent to 117%. Corn prices eased off at the outset, with September option down % cent from previous final call to 962, Tater, the market developed strength on good demand and September delivery advanced 1% cents to Barely steady conditions prevailed fur Montreal silver at the initial call, with September contract declining five points to 44.60B-45.00A.—Reuter, "Wall Street Journal" Comment By courtesy of Swan, Culbertson & Fritz and S. E, Levy & Ca.
New York, July 27.
The "Journal" reported that some traders predicted that United States Steel would declare a one dollar common dividend this afternoon, It also was gossiped that U.S. Steel, would offer new common stock at North Amer. Aviation 12 North Ame 29% North American 295 Northern Pacific goi; Pacific Gas & Elec. 33 Pacific Lighting 4514 B Packard Motors 9 Paramount Pictures Inc. st pfd.
Pennsylvania' RR.
Phillips Petroleum Public Serv. of N.J.
Pure Oil Radio Corp. of Amer.
Text read from the printed page and cleaned; old type leaves the occasional error.