The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1925-10-16
STOCKS ARE
BULLISH ON
n. Y. MARKET
Security Pact Agreement and
Improved Business Condi-
tiOns Responsible

New York, Oct. 16.-P)-PrO-
fcssiOnal bear traders. acting on
the theory that the stability of
the stock market had been un-
dcrmired by the recent rapid adj
vance, poured an avalanche Of
selling orders on tho floor of the
exchange around midday, aft
cr many stocks had been marked
up ! to Ii points above last
nights close. The market tot
tered for while under the
weight Of this selling. but soon
recovered and swept forward
again on another wild wave Of
bullish enthusiasm.
New York. Oct. l6.-tE)--Specula-
ton for the rise was resumed with
initial prices in the opening of to-
days stock market, blocks of 1000
to 1900 shares being quite common
in initial transactions. Opening
gains Of 10 to 20 points were regis
tered by American Sugar refining,
Allis Chalmers, Central Leather pre-
fcrred, Chrysler Motors and Mathie-
son Alkali.
through out the early trading with
ership of the upswing. Retention of
the 3 II per cent rediscount rate
by the New York federal reserve
bank, the announcement of the Lo-
carno security pact and additional
reports Of business Improvement all
helped to create bu.lish enthusiasm
in strikes. L. S. Cast ion pipe jump
ed 10 points to 1870. an extreme ad-
vance of "a points in two days.
krc3'e broke lG Is points to 719 IS
on one sale. Foreign exchanges fail
cd to make any apprcciahle response
Z to the France German Rhine agree
ment. French francs saggcd few
points to I.43 cents placing them II
points below the Belgium rate, but
the firmness of Italian lire around
LOO cents, lent color to the belief
that government support had tenn
porarily pegged them around that
figure. Demand sterling ruled firm
at 1873 81, apparently desregarding
leports Of additional gold shipments.
Heavy accumulation of Southern
Railway, which rose 2 "a to 10 -
Il new high record for all time, sup
plemented the pace set by United
States Steel and General Motors
which touched 1925 "a and 1919. re-
spectivcly. New points Of strength
developed frequently despite some
extensive realizing which was most
pronounced in United Cigar stores
and Radio. Call money renewed at
five IL per cent.
New York, Oct. 1G.-~(P)-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 renewal rate, was in
spired by bear traders, who sold
stocks freely on the theory that the
rapidity of the recent advance had
left the market in weakened tech
meal position. The widespread pub
Lefty given yesterdays record break
ing session, brought Il flood of buy.
ing orders into the market ut the OPP
ening with Il striking show OF
strength being made for time by the
motor and equipment issues, and q
few selected specialties. Nash Motors
scared 90 points and u. S. Cast Iron
Pipe IS, but the latter broke over six
points from it's early high in the sell
ing wave "nlcn swept over the mar
ket ut noon. Kinney e. Company col
lapscd nine points and number OF
other recent speculative favoritcs
sold off one to four points. Lowering
of the call money rate to five per
cent and revival of activity and
strength in U. S. Steel common, which
crossed 1876 to q new high, stcadied
the list and eventually induced SUI
ficicnt fresh buying to start prices
upward again.
The closing was strong. Bullish
enthusiasm continued undated in the
final hour, with the advance acccntu-
atcd by another reduction in cal
money to 12 per cent. u. 9. Steel
crossed 127 and General Motors 1872
in the late bulge, while spectacular
rise in General Signal was extended
to IL "a points. Sales approximatcd
100000 shares.
Sugar futures closed irregular. APP
proximate sales $4,000 tons; Deem
Der 2OS; January 215; March 222;
May 23l; July 242.