Prices on the New York Stock Exchange declined again today with losses on the main list ranging up to more than a point. Wall Street hears that nervous longs are responsible for some selling. American Telephone and Telegraph and U.S. Rubber common at present are the favorite target of shorts.
U. S. Steel's second quarter report will be less favourable than first quarter earnings. Eaton Manufacturing Ca. second quarter earnings will more than cover the 50 cent dividend paid. May 25.
Income tax installments are due today. Consequently whatever tax selling was necessary has now passed. Exports believe that another favourable market factor is that the technical reaction has left the list in a good position to rise provided it is given half an opportunity. Better business probably would provide this opportunity.
Consumer lines have been holding wp well and it is expected that those stocks will lead a real advance.
Favourable market factors today cluded 1. Epineering construction awards are almost double jast year 2. "Carloadings are up sharply 3. Progress in tax revision. qd, Me improved auto labour situa-
Among the were these: unfavourable factors 1. The tense situation in the Orient 2. Bank clearings "this week are below the corresponding week of last The. Federal Communications Commission "has recommended tighter control of the Bell System.
4. Steel scrap. prices Chicago in declined.—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.