Heavy selling begins as Hale's closing leads market slide
Wall Street reports a broad decline with no preface in early trading as steel and other key issues drop. Steel falls to 165 1 2, down 1 2 percent, while United States Industrial Alcohol and American Commercial Alcohol slide after dividend news and fresh market pessimism amid low levels and cheap money. New lows appear for Westinghouse Electric General Electric Consolidated Gas and Public Service of New Jersey.
MENTIONED IN THIS ARTICLE
Wall Street Journal Wire
New York
United States
Westinghouse Electric
General Electric
Steel
Consolidated Gas
Public Service of New Jersey
Associated Press
Sal Abitibi & P Pr
Anes Cont Baking
Melville Shoe
Adams Express
Rene Svescessers
Adams Millis
Michigan Steel
Contin
Dela
Ajax Rubber
Midland Steel
Alabant ™& Wicks
Alaska Juneau
Albany P. Wr Pap Fn
St Pas
Fa Alleghany
Fa Alleghany Eeeeee
Coty
Moran & Tex
Enereeen Spe i
Sos
Crosley Radio
Pacific
Crucible Steel
Setae
Alees & Dye
Monsanto Chem
Allis Chal Mf
Curtiss Wright
Montgomery Ward
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Ami Chem
Davison Chemical RT
Delaware & Hud
Murray Corp
Quo- Am Brown Ass
del Leck & West
Myers & B
Cincinnati Stock Exchange
den Rio G & W
Detroit Edison
Nash Motors
Wee Weesee
Devoe & Ray A
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Am Am Chicle
National Acme
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Ncte
Ask Amer European
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American Launch Mach
Ene
Am & For Power
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Dunhill Inter
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du Pont de
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Aeeeeenenee Ee
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Aeeeee
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Loew
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Louis Gas&Blee A
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Macy
Rh) Reese
I Coal
Adison Sq Eeennee
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Mallinson
Agma
Manhattan el Sup
Manh Elev m Gtd
Elliott
Market Stay Pr P
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Tee
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Si McKeesport Tin
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United Cigar Stores cKesson & Rob
United Corp
Eccree Aries
Aig
It's Not Candy
The U S Circuit Court of Appeals ruled that sweet chocolate is not candy, potentially triggering a $7 000 000 tax refund for four chocolate makers Hershey Wilbur Suchard Klein and York with further appeals likely to the Supreme Court and related refunds listed.
MENTIONED IN THIS ARTICLE
Wall Street Journal Wire
Philadelphia
Uited States Circuit Court of Appeals
William H. Ieivkpatiee
United States Supreme Court
Hershey Company
Wilbur-Suchard
Klein
York
Unlisted Securities Market Review From Cincinnati Exchange
The Cincinnati Stock Exchange closes a dull week with high intercity movements and ample liquidity. Banks anticipate easy money with looming rate changes, while overall business remains average outside a few overdone sectors. Week totals show $63.31 million in clearings and 16,791 shares traded across six days, with various rights and bonds also active.
MENTIONED IN THIS ARTICLE
L. A. Parrish
Financial Day
Barks
Leet Faney
Vame
Featureless Session On Cincinnati Exchange Despite Light Turnover
Local stock trading was subdued as bids fell across the board on light volume. Three stocks American Rolling Mill Engel-Picher and Formica hit new lows while National Recording Pump showed a rare advance amid scattered moves elsewhere.
MENTIONED IN THIS ARTICLE
E. B. Radcliffe
Cincinnati
Charngold
American Rolling Mill
Engel-Picher
Formica
New York
National
Turpentine and Rosin Prices and Stocks in Savannah
Turpentine firm reports 4214 cents per barrel and 358 barrels sold with 725 barrels received and 36 shipped leaving 19 057 barrels on hand. Rosin firm shows sales 484 barrels, receipts 2291 barrels, shipments 1059 barrels and stock 89 495 barrels. Quotes list varying prices from 5 26 to 7 10 with several grades and destinations.
MENTIONED IN THIS ARTICLE
Turpentine and
ROSIN
Savannah
Turpentine
Anaconda Directors Expected to Cut Dividend on June 26
Market speculation runs high as Anaconda directors near a June 26 meeting. Rumors say the annual payout could drop from $7 to $4 per share, with traders pricing in the lower rate amid widespread dividend cuts in the sector.
MENTIONED IN THIS ARTICLE
Anaconda
Amrad Corporation Stock Listing in Cincinnati Markets
Amrad Corporation common stock shown in Crosley Radio Cincinnati market notes. Crank Participating and Convertible classes listed with Bought Sold Quoted data via R. E. Field & Co. member Cincinnati Stock Exchange. Union Central Bank contact shown.
MENTIONED IN THIS ARTICLE
Cincinnati
R. E. Field & Co
Cincinnati Stock Exchange
Union Central
Telephone Main
Foster-Wheeler Profit-Taking Amid Strong Orders
Foster-Wheeler shares show profit-taking while market sponsorship remains robust. Analysts cite $11,000,000 of unfilled orders at month start as evidence of active operations and strong earnings potential for the year, with five month results seen as a new high.
MENTIONED IN THIS ARTICLE
Foster-Wheeler
Goodrich Faces Financing Test After Price Cuts
The Goodyear price reductions threaten Goodrich as it consolidates Hood and Miller Rubber acquisitions. The planned $30 million debenture offer could repay about $23 million in bank loans and boost working capital, but industry uncertainties push conservatives to wait for clearer tire market prospects.
MENTIONED IN THIS ARTICLE
Goodrich
Goodyear
Hood Company
Miller Rubber Company
Coca Cola Stock Traders Eye Higher Quarter Earnings
Coca Cola may report earnings near four dollars a share for the current quarter versus 3.19 last year, a record for the period. The stock attracts attention as Coca Cola shows expanding sales, favorable weather boosting demand, and low sugar costs aiding profitability.
MENTIONED IN THIS ARTICLE
Coca-Cola
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