New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1925-12-28
BULLS IN CONTROL
OF STOCK ISSUES
Spectators for Advance Ma.
nipulate Market

New York. Dec, ~ Hl-specula-
tors for the advance retaiMed con-
troll Of the price movements In tho
stock market after the triple Christ
mas holiday.
Constructive market operations
were aided by the optimistic tenor of
the first 1925 business forecasts to
make their appearance. The an
nouncoment of the proposed Pacific
Oil-Standard OIL of California mer-
ger, the unusually favorable earn
ings statement Of the Hudson Motor
company and the fine showing made
by the latest batch of November
earnings reports.
Bullish operations were particular
ly aggressive in the oils, motors and
rails, S. $, Kresge soaaed Is points
above last weeks close to IT'S and
General Cigar, Mack Tru@ks and
White Motors extended their early
gains to 8 points, or more before
Viz tllu VI lllG
Among the many issues to mount
to their highest levels in a year, or
longer. were New York Central, Chi
cago and Northwestern, American
Smelling and Postum Cereal. New
York bankers are reported TO have
called $25,00000o in loans soon
after the opening, sending the call
money rate back to six per cent, but
this rate was generally regarded as
temporary, and apparently had little
effect marketwise.
Wall Street Opening
Rising prices marked the rcsump
ton of stock trading today after the
! Christmas recess. Encouraged by
the forecast Of business leaders, that
prosperity would continue through
1926, traders engaged In spirited bid.
ding for popular stocks, such as
American Can, General Motors, Gen,
eral Electric, L. S. Steel and Ameri,
can Smelling. lifting prices one t
two points. Standard Oil Of Cali.
tornia and Pacific Oil scared two t.
five points in response TO merger
plans.
Under the impetus of favorable
trade and monetary conditions, in.
GLIDING reports OF extraordinary re,
tai holiday business and an increase
in reserves of the local banks, the
upward movement Of prices gained
momentum as trading progressed.
Kali shares were inclined TO las
behind the rest OF the list, although
New York Central attained a new
peak price and Southern Pacific wa.
III brisk demand. Accumulation o.
buying orders for Pacific Oil. follow
ing announcement of its consolida
ton with Standard of California
caused split opening at 1915, com
pared with the previous closing O.
7012.
L. $, Cast Iron Pipe, Brown Sho,
and WHY'S Overland preferred wer,
bid up three to four points, and ;
long list Of more moderate advance
included Postum Cereal, Information
al Telephone. Bethlehem Steel, Ccrr,
de Pasco Copper, Woolworth, Mar
land Oil and Philadelphia & Reading
Coal &; Iron, the last named beinl
bought on prospects Of an early
termination of the anthracite strike
Foreign exchanges opened steady
with demand sterling unchanged al
$4S5s.
Some Of the oils and specfaltics
yielded later on protit-taking, Stand
ard Oil of California reacting .
points from its initial figure, while
Stewart Warner sold and Postum
Cereal 4 1-2 points under Thursdays
close. The general market, how.
ever, continued strongly upward, al.
though call loans again renewed al
6 per cent. Motors were in greater
favor, Chryslcr rising 7 points tC
zoe 1-2. while the new stock touched
so rs, Hudson gained ga. Ma
tional Tea jumped Is points 10 200
southern Pacific was in keen de
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