Steel Shares Weak, General List Irregular: Trading at 3-Month Low
NEW YORK, Aug. 30 (AP)ÛÓSteels were weak in a mixed stock market today as the list continued to wallow in the pre-labor day doldrums. Volume was the lightest in about three months.</br></br>Some of the leading steels were sold heavily as sentiment regarding these stocks was affected by the dividend cuts of Wheeling Steel and Republic Steel, as well as prospects of further difficulty with the Federal Government.</br></br>Armeo Steel refused to comply with subpoenas for company data issued by the Senate Subcommittee on Antitrust and Monopoly. Armeo stock sank Hi to 46.</br></br>Volume dropped to 2.26 million shares from 2.9 million yesterday. And was the smallest since May 21 when the same volume was reported.</br></br>Priced moved upward feebly at the start but increasing softness among the steel shares helped erase even this small rise.