Stocks, bonds, the dollar, wheat and cotton all drifted lower today in a session of dull trading with the turnover small. After opening steady, prices sagged with utilities joining the decline and dampening sentiment. Traders ignored favourable news and preferred to await Spanish developments when the Loyalists announced their refusal of unconditional surrender and their determination to continue the warfare. Today's reports included one regarding the meeting of British and German industrialists, with a view to holding discussions seeking the improvement of trade re lations, whilst it is also seid that Ital and Russia are near a trade agreement accord. Domestic news in ed the item of increased railroad purchases of steel. Some operators in the Street Lelieve that the Government wit! possibly repeal er modify the Silver Act.
Text read from the printed page and cleaned; old type leaves the occasional error.