New Britain herald., 1926-03-03
Railroad Stocks Fall Today But
 Other Issues Hold Fairly Firm
DisapprOval of Nickel Plate Merger Causes Drops From Four to g Points-Billion Is Lost in Yesterdays Crash.
By the Assoriuted Press.

By the Assoiatgd Press.
 New York, March . --- The stock market received another terrific jolt today when hundreds of thousands of railroad shares were pressed for sale as q result of the adverse Nickel Plate" decision. hut sutti- cicnt buying support was in evidence for high grade issues to hold most of them above yesterdays low lev els during the first half of the sts- sion.
 23 Point Drop
 The first sale Of Nickel Plate" common was a block of ,0oO shares at 14o, an overnight loss of 23 points, nearly threo hours after the market had opened.
 Early declines of 1 to 13 points ill the other Van Sweringen rails were followed by rallies of to points early this afternoon. There was persistent demand for common stock of the Chesapeake and Ohio Rail- road company, whose minority stock holders successfully contended that the Nickel Plate" financial terms were incquitable. It advanced over 9 points above last nights close to 122 3-S, after opening at 116.
 Supporting Orders
 The supporting orders placed for [. $. Steel common and other high grade industrial issues and the low cring of the call money rate to 4 F per cent, indicated that bankers and powerful financial interests were supporting the market. More than two score industrial issues had ad' vanced 1 to points hy early after noon.
 Bear traders continued 10 ferret out weak spots, suhiecting the mo- tors to another terrific attack in the carly afternoon and forcing the jicuidation of many weakened mar ginal accounts in those issues. Ont block of 13.000 shares of ChrysIei changed hands at 20, as agalns' yesterdays low oi 40 <, but mos oi the other members of that group ap- ipeared 10 be holding above theil previous resistance points.
 Total stock sales in the first thret hours of trading totalled approXl' matcly 2,15o,00o shares, or at th' rate of 11,G6G shares a minute, This rate. if maintained 10 the close, vii
 establish new high record for vol.
 ume in the history of the New Norl stock exchange.
 Industrials Fairly Steady
 Prices generally waVcrcd for
 time under the impact ot thl
 liquidation, but strong buying sup
 port was in evidence and, with fev exceptions. quotations of standar' jnGustrials and public utilities di not break through their low price , of yesterday in the carly trading. With tn" exception of Chcsapcak x Ohio, whose minority stockhojd 1 CTS are generally given credit for tn r successful opposition 10 the iinanci' l terms proposed ny the Va n Sweringens. sharp recessions too Q place Tn the SIldl'S VI ab "h''' s the proposed "Nickcl Plate SyStcn q Chesapeake $; Ohio common opene A 3-4 higher at 11G but ran up Q ieo IA before tho end of the iir' n hour,
 Other EailS Break - Pere Marquette common hroF X 12 3-4 points. Erie common : l. e the first preferred l-s and the so' Is ond preferred 3. No sale of "Nick o Plate" old stcck Was recorded on q e New York stock exchange in u c. first hour of trading. If closed la Dg night at 16S. and there were te $ market orders at the opening h - these were withdrawn when broke lc found il impossible 10 e"t "h le they called H reasonable bid. T No stock was not even quoted. l. Trading in the stocks Of tn" pr Nc posed new "Nlck"l Tlatc' new col 1T pany. which had been dealt in on nnt