New Britain herald., 1926-03-30
MARKET SUFFERS
 TERRIBLE SETBACK
Rally Gut Short and Downward
 Plunge Renewed

New ! ork, Warren GN WPt-N fN- rious selling attack launched against the leading railroads shares today wiped out the effects of an carly rally in the stock market and sent scores of issues toppIing 10 & points 10 new low levels for the year. Losses In some of the less ac- tive stocks reached as much as l5 points.
 stock prices, after short-lived rally today gave way before auoth- or onslaught Of selling, which wus directed with terrific intensity against the leading railroad shares Scores Of new low levels for tho year Were established on declines of 1 10 & points, with losses of 10 and 15 points registered hy some of tho inactive issues.
 Reports that powerful banking in- torcSts had rushed their support to the market were circulated follow ing the early rise in r. $, Steel, Geu- eral Electric, Du pont md other market leaders but under the cover 
 Of this move, liquidation gradually began 10 play havoc In the railroad group, resulting in wide open break as the calling Of bank loans was resumed on large scale. Ches- apcake and Ohio toNpled almost s points, and Atlantic Coast Line, | Delaware and Hudson. Southern Railway, and Si. LouiS- S-Southwestcrn ] to : points All were included in q long list of new low prices for the year together with New York Gen. tral, Union Pacific, Pennsylvania, 1 Northern Pacific. Southern Pacific, New Haven. Lackawanna. Pittsburgh and West Virginia.
 Another drive against Hudsoni Motors carried it down almost , points 10 q new low at = 1-S and tT $. Steel fell back to within a frac- ton of yesterdays bottom price. Universal Pipe preferred crumbled Is points and Fidclity-Phenix lnsur- ancc. 10.
 Wall Street Opening
 l Further liquidation dhrclopod at the opening of tOdays market, Icarrying prices irrcgularly lower Postum Cereal broke 5-S points on the first sale and Woolworth 2
 both to new low records for thc year. Buying support was apparent for q few issues, American Car opening a point higher and Genera
 Motors and Hudson improving frac' tionally on initial sales.
 New low records for tht year wer,
 established in the first few minute 7 Of trading by such popular shares q
 Allied Chemical, s. $. Kresge. Wool
 worth, Consolidated Gas, Postln
 Cereal. International Nickel, Mary ', land [. <. Rubber and North Amer ican 70. This undoubtedly represent ed n"cossltous selling, hut it va soon completed and tho mark Il quickly swung upward when actiy
 bidding developed for the hig
 priced industrial specialties. / Short covering operations wei | tOHluCtti Ill 6ESItsSlNt ldSlllbl Il With the exception of Belgian franc 0 which broke s points to q new lo n record for all time at 3.72ia cent I all of the principal foreign exchange l. opened higher. French francs rallie r over points to 3.49ai, and de l. mand sterling ruled firm aroun s4.S5 7-S.
 = Powerful speculative forces cor
 tinued 10 battle for control of th
 market, with the bull elemen 7 however, having much the best ( ii the contest, desplt" raid on Hud son Motors which dropped frol | 7S 1-2 to 74 3-4 n new low tlgur
 for the year. Although the markt J continued to reflect considerab
 volume of distressed selling, 1t wa Il confined largely 10 the ordinari @ pactivc shares American Expre' -- dropped points, Commercial So ,t vents E 3 3-4 and Southern Dairi, h A 2 points. On the other han l. gains oi points or more wei rt quite numerous in a wide assor
 ment of indusjrials and railroad
 Call loans renewed at , per cen