Little resistance to selling pressure was witnessed on the Stock Exchanze today, and pivotals dropped sharp: Sentiment was jittery in some quarters over the United States-German developments, which were used as an excuse for liquidation, although the technical condition of the market was also described as a contributory factor to the decline. Traders showed a disposition to ignore favourable news, including automobile output;|touching a new high level since August 14, 1937, less than a seasonal decline in' carloadings, a rise in steel Operations and gains in the retail trade.
By Courtesy of Swan, Culbertson & Fritz By the middle of the week stock prices on Wall Street had given up virtually all the gains recorded since the beginning of the month. Leading nes declined one to more than dollars Monday under heavy profit taking. Weakness was most marked in stocks which had recently been popular with houses having it portant foreign connections. S; factory domestic business and political conditions were offset by dev lopments abroad. Feeble rallies failed to attract fresh buying. Losses ce tinued to predominate Tuesday, wh traders adopted a cautious policy pending more definite indications of the near term trend. The sharpest break which the market has suffered since just prior to the Munich accord forced losses Wednesday ranging from fractions of a point to more than two. At the opening, operators took advantage of the early firmness to secure profits, believing that 2 technical reaction was overdue. At-
Dec, 64-64%—®% Dec. 47%-87% May 6654-863.—15 May 5114-5115
Winnipeg Wheat Montreal Silver Dec. 5955-599, unc. Nov. 4260 B +145 May 6333-6213 -Hia B—Bid. A—Asked.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.