New Britain herald., 1925-07-16
AMERICAN CAN IS
 LEADING STOCK
Starts Upturn Movement Of
 IDduStrialS

New Cork, July Y P,-Wan S. Opening; Cheerful trade news from several industries laid the ground work for q further advance in stock prices at the opening of today's mar kct, American Can led an upturn in pivotal industrials, mounting morN than points to a record top .at 9o2. Both L. S, and Bethlehem Steels responded 10 indications that second quarter earnings would be favorable, Several public utilities, including Telephone, established new 1925 high prices
 Buying operations showed no abatement in the subsequent Gral- ings and gains of 10 points were scattered among an assortment Of public utilities, industrials and sne- cialtes. Demand for power stocks embraced North American, Montana Power and Electric Power issues, lifting them 10 2 points 10 new peaks for the year. Bullish demon- Strations also took place during the first half hour in General Railway signal, Savage Arms, General Elec- tric, Royal Dutch, Otis Elevator, Havana Electric and American Az. ricultural Chemical preferred A fresh advance in crude rubber prices led 10 increased activity in the tire stocks, Fisk crossing 92 10 new high level. Foreign exchanges open ed steady, with sterling unchanged at S4S3a4
 Buying operations showed no abatement in the subsequent deal ings and gains Of 10 3 points were scattered among an assortment of public utilities, industrials and spe- cialties. Demand for power stocks embraced North American, Montana Power and Electric Power issues, lifting them 1 to points to new peaks for the year. Bulish dcmon- strations also took place during the first half hour in General Railway Signal Savage Arms, General Elec- tric. Royal Dutch, Otis Elevator. Havana Electric and American Agri- cultural Chemical preferred. A fresh advance in crude rubber prices led to increased activity in the tire stocks, Fisk crossing 22 to 2 new high level. Foreign exchanges opened steady, with sterling un- changed at S45S4.
 After the initial display of strength, the market qWeted down, although brisk rallies took place in several highprlced issues [. s. Cast Iron Pipe sprrted up roints and Hatana Electric extended it's early gain to 57s. Meanwhile pub lie utilities continued to give the best exhibitions of group strength. with indication that recent merger and r"capitalization developments were attracting large outside buy ing interest. Price movements of several specialtios reflected q hasty retreat Of shorts, Savags Arms, after establishing successive low records for several days rehounding 5 points. Activity in the rail shares was rn- strained by the reported decision of the western carriers to modify their demands for rate increase from II 10 per cent. Call money renewed at 33a per cent
 Buying of the general list again assumed larger proportions when the steel group began to move LID in A spirited fashion. Considerable ac- tlrity and substantially higher prices prevailed for Tlmken Roller Rear ing, Fairbanks Morse. Radio. Inter national Business Machine and Mack Truck. Manhattan guaranteed lump- od 1olo points 10 o8, Chicago North western shook off is early letharsy an1 improved over 2 points.
 Tho closing was strong. Revival of speculative activity in the oil shares, which changed hands in ''rr" blocks, and "stab1ishmert of new 1925 high prices by soma of the tobacco issues featured the late tra ding
 Lower money ratas and favorah'e trade news infused new strength in tod7y's stock market. Expanding buying operations In the sten' shares and heavy accumulation of the pub lie utilities, eight of which attained now peak prices for the year. foa- turo1 today's trading. Total sales 1,t5ooo shares.
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