Prices Ease in Calmest Trading of July: Dow Industrials Off 1.96
NEW YORK, July 20 (AP)ÛÓ'The slock market ignored the experts today by turning downward. Losses were generally small in the slowest trading in a month. But after a mixed start prices fell back. They made no substantial recovery move before the close.</br></br>Profit taking on the recent rise, European selling and the apparent worsening of the U.S. balance of payments deficit in the second quarter were the reasons brokers came up with for the performance.</br></br>Readings of the popular market averages were not far below the all-time closing highs of Friday. The Dow-Jones industrial average settled 1.96 at 849.39. Standard and PoorÛªs 500-stock index was lower by .27 at 83.74. The Associated Press 60-slock average dropped 1.2 at 320.8 with industrials down</br></br>After the close the July 15 short interest, or shares borrowed for resale in anticipation of future lower prices, rose to the highest point of the year, the New York Stock Exchange reported. Some analysts look upon this as providing a buying cushion for the market since the borrowed shares must be purchased for return to the lender.</br></br>Sunshine Mining, up more than 3 last week, was the most active stock, higher by \\ at 127/)) on 60,800 shares. The issue was recommended by an advisory service and has been mentioned in takeover talk.