New York, July 17.
Liquidation weakened prices at the outset on the stock exchange to-day. Steels came under the most pressure and metals, rails, motors and oils were also slightly sold down, while utilities ruled steady. Later, the market presented a steadier appearance on a certain amount of covering setting in. Price changes were, on the whole, kept within narrow limits with losses and gains about evenly divided.
Short-covering on a small scale was witnessed at the initial call of cotton section and October option advanced two points from yesterday's final level to 12.04. After appreciate ing a further two points to 12.06. October contract lost the gain of four points and was again quoted at 12.02 on liquidation by tired longs.
The rubber market remained closed to-day.
Favourable foreign advices influenced a higher opening for wheat in the Chicago Grain Pit, with September delivery quoted at 129, a rise of % cent from previous final call. Later, a slight reaction of % cent to 128% was recorded for September option. Corn also worked in both directions. Opening with an advance of % cent from last close to 114, September contract declined % cent to 113%.
Montreal silver ruled steady, with September delivery appreciating ten points to 44.60 bid and 45.10 asked at the initial call.—Reuter.
"Wall Street Journal" Comment By courtesy of Swan, Culbertson & Fritz and S. E. Levy & Ca.
New York, July 17.
The "Journal" reported to-day that the average trader was inclined to remain on the sidelines although many believed utilities would advance if Congress adjourned.
The French situation is not affect-
Elec. Power & L m Flinikote Ca. 295 Gen. Cigar EJ Gen. Elec.
Gen. Food. Eu Gen. Motors Gen. Rail. Signal E Glidden Ca.
Godchaux Sugar, Class a Goods $9 pid.
ootyear Tire & R. Great Northern Rly Great Western Sugar Greyhound Corp.
Hecker Products Humble Oil Int. Nickel Int. Tel. & Tel.
Interstate Department Kennecott Lambert Ca.
Libby-Owens-Ford Glass Lockheed Aircraft Loew's Inc.
Lorillard McKesson & Robbins Martin, Glenn L. Ca Missouri Pacific R.R. Monsanto Chemical Montgomery Ward Mountain City Copper Nat. Bond & Investment Nat. Cash Register City Bank Dairy Prods.
Distillers Power & It
at Supply Ca.
Set New York Central Niagara Hudson & Power North Amer. Aviation North Amer.
Northern Pacific Pacific Gas & Elec, Pacific Lighting Packard "Motors Paramount Pictures Inc. Ist pfd. Pennsylvania R.R. Philips Petroleum Public Serv. of N.J. Pure Oil Radio Corp. of Amer. Republic Steel Cory Revere Copper rass Reynolds Tobacco "B" Schenley Distillers Shell Union Oil Socony Vacuum South. Calif. Edison Sthrn: Pacific Sthrn. Railway ing the market. Brokers report that London is bullish in United. States Shares. Increasing attention is being given to the theory that scrap steel prices are indicating the stock market trend, Copper fabricating activity may soon be reduced. a "Ha Stand. Oil of NI. Sterling Prods. Studebaker Swift International Technicolor Texas Cor ration ex Sulphur Tide Water Associated
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