Stocks Retreat After Early Rally Fails: Loss Is Fourth in Row
NEW YORK, Sept. 27 (AP)ÛÓThe stock market declined today for the fourth straight session as it backed away from a feeble early rally.</br></br>The loss on average was about hair as bad as yesterdayÛªs sharp setback but quite a number of stocks, some affected by special situations, made sizable gains.</br></br>The aircraft-missile stocks were well ahead, apparently satisfled that no real disarmament would result from the current United Nations session. Some of the building materials, drugs and a wide variety of selected issues also posted gains.</br></br>Utilities took some sharp losses, weighting the average lower. Autos, rails and chemicals were generally on the downside.</br></br>The market was unevenly higher at the start in a technical snapback from yesterdayÛªs steep slide. The list couldnÛªt hold its ground, however. Business news remained unencouraging. There was more prominently published mention of ÛÏrecession.Û A magazine article by elder statesman Bernard Baruch was widely quoted. Baruch, who made millions in the market, found "disturbingÛ points of comparison between the modern era and the boom of the 1920s which led to the great crash.