New York, Mar. 25.
One of the heaviest relapses since the present recession started was seen on Wall Street to-day, when several stocks moved to the lowest levels recorded for the past three years. The volume of trading increased on the setback, as traders dumped their holdings overboard, whilst margin selling, liquidation of cash holdings and some short selling were contributory factors to the decline. In spite of the trimming of the Tax Bill, it is realized that the measure has a long way to go, while lacking definite signs of business recovery, speculative forces lightened their commitments. However, well-informed quarters in Wall Street see no special reason for the slump and feel that the market is still remaining on the liquidation period due to the failure of business indices to to Spring li teels were start-particularly which ing a general selling wave of the lasted till the close. best known issues also Jost were weak, more points. Motors [peni whilst rails eased Over to-day amounted to 1,680,000 hares.
Text read from the printed page and cleaned; old type leaves the occasional error.