New Britain herald., 1926-04-08
MARKET RALLIES
 ON RAILWAY NEWS
Van SVerineen RumOrs Lift
 Prices Materially

New York, April R-The de- velopments of a brisk demand for the Van Sweringen issues this after noon. following the announcement of an agreement between the pro- motors of the Nickel Plate" merger and the minority stockholders com. mttee of the Chesapeake and Ohio, lifted the market out of the dol drums in which 1t had been floun- dering all morning.
 Renewed efforts of Bear Traders to bring about further liquidation of the motor shares met with consider able success, a number being driven down to points with selling &C., companied by a revival of rumors that many dealers were again over stocked with new cars.
 Liberal offerings of such popular industrials as r. s. Steel common, General Electric and Baldwin had a tendency to restrain bullish opera tons in other quarters.
 The activity of a number of spe- cial stocks seemed 10 confirm re- ports of the organization of new pools. The principal business news of the day was the resumption of dividends by Ray Consolidated Cop per for the first time in five years and the announcement Of an in crease of one cent gallon in gaso- line prices by the Standard oil Co. of New Jersey, with other compan- ies operating In It's territory follow ing suit.
 Heavy buying of the Van swerin- gen issues revived hopes of a new merger plan which would be satis- factory to all securities interests in- volved and to the interstate com merce commission. Other so-called merger rails also were in good de- mand, particularly Atlantic Coast Line, Kansas City Southern and St. Louis Southwestern. The Central Leather dropped to new low levels for the year, and acute weakness de- veloped In Commercial Solvents B and Gold Dust.
 Wall Street Opening
 Stock prices moved irreguIarly lower at the opening Of today's market on a continuation of profit taking by traders who had bought stocks flor a turn" and possibly some liquidation of stocks previous ly purchased for supporting pur- poses. General Electric showed a loss of 1 3-4. Baldwin 1 1-2 and Hudson 1 while Dupont advanced a point and Philadelphia company ad- vanced fractionally to a new high level for the year
 i Renewed selling Of the motor shares turned the course of prices definitely downward soon after the opening. Jordan dropped 5-S points, Nash 5-S, Hudson 3-S and General Motors ? in the first outbreak of selling. Equipments were freely offered despite reports oi increasing railroad inquiries, Baldwin sagging points and American Cal and Foundry l. Fresh points O weakness also developed in the spe cialties, particularly those returning a low yield at current prices. Gen eral Electric. Woolworth. Chicago Pneumatic Tool, International Match preferred and Famous Players all fell back l-2 to 2 l-2 points. Only a few issues moved against the gen eral trend, among them Vanadium Steel. Lee Rubber and Coco Cola. Foreign exchanges opened irregular,
 Persistent offerings from the bear element who were determined to contest any further advance in. timidated prospective buyers who were awaiting more light on the general situation before reentering the market. Selling of the high priced issues and the weakness o1 the motors despite recent reassuring reports about the trade situation offset constructive efforts else. where. Chesapeake and Ohio roSt 3 3S, Adams Express and St Louis and San Francisco. Erie anG Allied Chemical l to 11s. |. s Steel on the other hand, went dowr 10 1@0 5-S, which was exactly three points below Tuesdays high figure Woolworth declined 5.s, Universa Pipe preferred 3la and Pierce Arrow preferred 2. The renewal fol call loans was unchanged at peI cent.
 High I,nw Closf