Late Selling Drags Market Downward: Uncertainty Affects GM
NEW YORK, Nov. 4 (AP)ÛÓA late selling squall upset the stock market today and it declined sharply in active trading. It was the second steep drop within four sessions.</br></br>Nervousness over what dividend action the directors of General Motors might take after the market close was linked by brokers to the decline. GM fell 1% to 85Vs on 139,800 shares, making it the second most active stock.</br></br>The market was slightly and irregularly higher most of the session. The initial weakness that led to the late selloff was actually begun by Chrysler. GMÛªs decline started immediately thereafter.</br></br>The Associated Press average of 60 stocks dropped 13. to 280.0 with industrials off 2.0, rails off .6 and utilities off .4.</br></br>American Photocopy, last week's most active issue, continued in strong demand as the most active stock, keeping a net gain of % at 14 on 472,600 shares. It was more than an hour late in opening and then was up 1 at 14% on blocks of 90,000 and 5000 shares.