New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1925-10-16
Up, down and Up
ON Days MARKET
All Sorts Of Conditions Confront
Dealers

new YORK, Oct. 10 w - STOCK
prices opened strong, broke sharply
under an avalanche of selling orders
around midday and then started for
ward again under the leadership of
the standard industrials.
The break, which followed the
marking up of the call money re-
newal rate, was inspired by bear
traders, who sold stocks freely on
the theory that the rapidity of
the recent advance had left the
market In a weakened technical po-
sition and that front page" markets
ordinary marked the elimination, at
least temporarily, of the current
price movement.
The publicity given yesterdays
record-breaking session, brought a
flood of buying orders into the mar
ket at the opening with a striking
show of strength being made for q
time by the motor and equipment
Issues, and few selected specialties.
Nash Motors scared % points and
Z. s. Cast Iron Pipe 10. but the lat
ter broke over points from its
early high In the selling wave which
swept over the market at noon.
Kinney & Co, collapsed points and
number Of other recent specula-
tive favorltes sold off to points.
Lowering of the call money rate
to s per cent and revival Of ac-
tiVity and strength In U. s. Steel
common, which crossed 1875 to new
high on the movement, steadied the
list and eventually induced sufficient
fresh buying to start the course of
prices upward again.
Speculation for the rise was re-
sumed with increased vigor at the
opening Of the days stock market
blocks OF 1000 to 1900 being quite
common nv initial transactions.
Opening gains OF to points were
registered by American Sugar Re-
filming, Alis Chalmers, Central
Leather preferred. Chrysler motors
and Mathieson.
Trading continued at fast pace
throughout the early trading with
the motors again assuming the
leadership Of the upswing. Reten-
ton Of the l. per cent redscount
rate by the New York Federal Re-
serve bank. the announcement of
the Locarno security pact and adj
ditional reports Of business improve
ment all helped to create bullish en-
thusiasm In stocks. U. S, Steel rose
10 points to 700, an extreme ad-
vance of "a points In two days:
General Railway Signal climbed
nearly points and General Cigar.
National Dairy Products, Kinney e
Co., Chrysler, Pathe. Fisher Body
and u. s. Rubber common sold to
3 points higher before the end of
the first half hour, Kresge broke
Is is points to 7497s on one sale
Foreign exchanges failed to make
any appreciable response to the
Franco-German Rhina agreement
French francs sagged a few points
to 4.43 cents, placing them Q points
below the Belgian rate, but the firm.
ness of italian lire around 400 cents
lent color to the belief that govern
ment support had temporarily peg
ged them around that figure. De-
mand sterling ruled firm at s4.S3%
apparently disregarding reports of
additional gold shipments.
Heavy accumulation of Southern
Railway, which rose > "a to 10 .,
a new high record for all time, sup
plemented the pace set by U. S. Steel
and General Motors which touched
1875 "a and 129. respectively. New
points of strength developed frs-
Quently despite some extensive real
izing which was most pronounced In
United Cigar Stores and Radio.
Equipments were brought in round
amounts. Baldwin rising 3 as and
American Locomotive points. KIN
ney moved up points and Chryslcr
Mathison Alkali, T. H. Shattuck
Childs, Yellow Truck, Allis Chalmers
and Fisher Body IL to IL. Call
money renewed at 5 IL per cent.