Stock Prices Lose Part Of Gains Registered In Rally Of Previous Day
NET LOSSES HELD
TO FRACTIONS IN
MOST INSTANCES
NEW «YORK, Oct. 4.—Stock prices
today lost part of the sains regis
tered in yesterday's brisk rally. In
termittent profit-taking tended to
nullify the effect of further short
covering; in the leading stocks, but
with few exceptions, the net losses
in active issues were held to frac
tions.
There was a fair accumulation of
overnight buying orders* the execu
tion of which gave the market a
strong;'tone at the start. Specula- j
tors for the advance, however,
showed little disposition to follow up
their temporary advantage with the
Jesuit that realizing sales came into
the market in large volume and were ,
augmented In some of the specula- j
live industrials by the offerings of j
beai traders. Thereafter, the usual j
loaders bobbed up and down with |
ood support shown Just below the
high figures of yesterday.
Oil shares held relatively firm by
the announcement of a further re
duction in crude oil production for
the wnek ending September 22. The
Pan-American issues were bid up a
noint or so, but they yielded with
- lie rest of the list in later trad
dyfg. Standard Oil Issues derived some
«r uength from the unconfirmed report
that Standard Oil of New York would
noon be' transferred from the curb
to the "big board.”
Special strength cropped out In the
public utilities. Brooklyn Union Gas
• •losing 2 points higher; Brooklyn
Edison 1, and Consolidated Gas, im
proving fractionally.
