New Britain herald., 1926-04-21
DRASTIC RALLIES FEATURE EXCHANGE
Impressive ReCOVeris Made by
 Leading Stocks

New York. April 21 Up -- Stock prices today staged one of the most Impressive recoveries since the dras. tic reaction early last month. Re- sumption of pool operations. which have been facilitated by tho cheap money rates, and the advent of warmer weather which is expected to stimulate spring business where the dominent factors, but close nt- tention also was paid 10 the favor- able nature of most of the quarterly reports of railroad and industrial corporations now making their ap- pearance. Revival of merger talk accelerated the demand for the rail- road shares, which also were helped by the March earnings statements of tho principal systems and the con- tinuQnce of relatively heavy freight car loadings. Commercial solvents A and F. scared and points. re- speCtively, on the announcement that the company would call its 6ila per cent notes and class A stock. Early gains of to nearly points were recorded by General Electric, Remington Typewriter. Mack Truck, Hudson, National Lead. Woolworth Case Threshing Machine, Trading picked up in volume on the rally. total sales for the first three hours nearly equalling those of yesterdays full session.
 Wall Street Opening
 Stock prices continued to drift within a narrow trading area at the opening of today's market, but the main trend was upward. Atlantic Coast Line moved forward in re- sponse to the declaration of larger dividend and motor shares resumed their rise under the leadership of Hudson and General Motors. Ameri- can Smelting reflected disappoint- ment over the adverse court action affecting payment Of Federal Min ing and Smelling common dividends.
 Buying of individual shares. es-
 
 Marine preferred and the local trac- ton issues, contrasted with q re- sumption of liquidation elsewhere in the subsequent dealings, but the sustained strength of U. S. Steel, General Electric and other leaders held the market firm. American Smelling dipped more than 2 points 10 109 5-S, Cudahy Packing sold at 8 and Chllds Co. at 4S, all new low levels for the year. Revived reports that some of its ships would be sold to British interests carried preferred up 3 points, and similar gains were recorded by South Porto Rico Sugar, General Electric, Remington Typewriter and Commercial Solvents F. Other points of strength includ- ed Dupont, U. S. Cast Iron Pipe, Mack Trucks and Atlantic Refining. Foreign exchanges opened steady, with sterling unchanged at s4S5 7-S and French francs slightly higher at 3.34h cents.
 Fortified with an abundance of cheap money for speculative pur- poses, call loans dropping to Sla after renewing at per cent, con- structive interests bought stocks heavily causing Q rapid retreat of the short interests with the rise as- suming the proportions of boom in individual cases. The demand for railroads was the outstanding feature, these being bought in an ticipation of further favorable March statements Atlantic Coast Line jumped ten points, Jersey Central 4h and St. Louis and San Francisco, Delaware and Hudson, Louisville and Nashville, Atchison. New York Central. Chesapeake and Ohio and Norfolk and Western and Lacka- wanna 2 to 3h.
 Du Pont, Detroit Edison and [. & Cast Iron Pipe also advanced 5 points each.