Profit Taking Drops Stocks; Trade Slows: Steels, Motors Lead Dip
motors and chemicals paced a stock market decline as profits were taken today on last weekÛªs rise, the best of 1960.</br></br>There was no rush to sell, however. Volume dipped to 2,520,000 shares compared with 2,820,000 Friday and was the lowest since April 1 when 2,260,000 shares were traded.</br></br>Losses went from fractions to about 2 points among some of the blue chips and ihesc dropped the Associated Press average down to its steepest loss since March 7.</br></br>further drop in the steel industry operating rate was more or less expected. Nevertheless, the news had its impact on ! steel shares as well as motors and some I of the chemicals whose production is linked ; with steel industry operations.</br></br>The AP 60-stock average fell 1.40 to 215.60 with the industrials down 2.60, the rails down 1.30 and the utilities unchanged.