New Britain herald., 1926-09-10
WARNER PICTURES
 SOAR ID NEW HIGH
This Is Individual Feature Of
 Days Stock Market

New York, Sept. 10 P-Backing and filling movements continued to characterize today's stock market, with standard industrials and rails inclined to heaviness after midday on the announcement of a drop of over 60,000 tons in the thrilled or- ders of the |. s. Steel corporation last month. Pools succeeded in ele- Vating nearly a score issues to new high levels for the year during the morning, but with one or two ex- captions they had difficulty in at- tracing public following.
 The market opened strong on overnight buying influenced by the retention Of the 4 per cent redis- count rate by the Federal Reserve Bank of New York. many of the early gains running from to 5 points. Heavy liquidation of Mack Trucks, which broke nearly points, brought about sympathetic reactions in low priced motors which gradu- ally spread to other sections of the list
 Despite the announcement Of an increase in certain grades of crude by the Humble Oil company, petrol cum shares were pressed for sale, one block of $500 shares of Texas company changing hands at 55. Colorado Fuel was lifted to a new high, but the other steels were backward.
 Warner Pictures was again an outstanding individual feature, soaring over ' points to a new record high. Public Service of New Jersey, Burroughs Adding Machine, Granby Copper and |. S. Industrial Alcohol were among the other is- suas to break into new high ground.
 Great Northern preferred was added to the list of new railroad highs, but Chesapeake & Ohio and other recent favorites reacted with the industrials.
 Wall Street Opening Rentention of the four percent rediscount rate by the New York federal reserve brought large vol ume of buying orders into the stock market overnight, giving opening prices a strong tone. Warner pie lures "A" opened two points high CT at 62, new record high, and initial gains of a point or more were recorded by radio corpora tion, '. S. Industrial alcohol and public service and New Jersey.
 With the weekly federal reserve bank statement failing to disclose any strain on the credit situation, operators for the rise resumed oper- ations with fresh confidence, being aided by heavy short covering in certain sections of the list General motors was again taken in large blocks at advancing prices, but the other automotive isues were mixed, renewed heaviness cropped out Tn Mack trucks. Sugar shares contin- ued to respond to reports of trade improvement, with a sympathetic l rally taking place In other food shares. Steel shares held steady pending the publication of the monthly tonnage statement Of the United States steel corporation. Gen eral asphalt resumed its advance but the other oils continued back ward.
 Continuation of the recent eX- traordinary advance in Warner Brothers Pictures A which had risen IA to 67 1-4, a high rec ord, before midday, influenced speculative purchases of other amusement stocks, especially Pathe Exchange and shubert Theaters which rose strongly. General buy ing was confident despite extensive liouidation of Mack Truck and seV- eral low-priced motors. High rec ords were achieved by an assort- ment of industrials and specialties' with gains running to as much as 3 to 4 points in some instances. Railroads also manifested an up ward tendency. Chicago and North western surpassing it's previous figure for the year. The renewal rate on call loans was continued at