New Britain herald., 1926-09-30
CALL MONEY GOES
 UP ID 6 PER CENT
This Causes Vigorous Action by
 Bulls Today
By the Associated Press.

By the Associated Press.
 New York, Sept. SQ,-MarkinE up of the call money rate to per cent. the highest of the year, was followed today by a vigorous bullish demonstration in the stock market, causing a hurried retreat of the short interest which had sold stocks heavily recently as a result Of the tightening of the credit situation. This surprising maneuver on the part of spectators for the advance indicated that they were not yet ready to relinquish the leadership Of the market and were we'll fortified with funds to carry out their opera tions, at least temporarily.
 Buying orders were distributed over a broad list with the best gains being recorded by the high grade rails, motors, public utilities. tobac- cos. theaters. feathers and stecls. Previously, the bear faction had attained some degree of success In depressing a number Of chemical railroad equipment and copper shares but these also rallied in the late trading.
 Nearly a dozen issues were car lied up to new high prices for the year, or longer, before tte end of the third hour. Union Pacinc was bid up above 167 and Nickel Plate" and New York Central climbed at least points above yos- terday's final quotations. Radio Cor poration was taken in large blocks on its way to a new high price at 5612. Commercial Solvents B quick ly jumped 5 points to new record high at 199, but Allied Chemical ap- peared to be under pressure in further reflection of speculative dis appointment over the failure of di- rectors to make special dividend distribution.
 Wall Street Opening
 Confused price movements again characterized the opening of today's stock market. Initial gains of point or more were recorded by Central Leather Pfd. Baldwin, Warner Pictures and Radio Corpor- ation, the last named touching 1926 high. Atlantic Coast Line broke ? 1-2 points on the first sale and by products coke 1 IA.
 The market was a two sided affair in the early trading. Stiff money rates, due to the heavy withdrawal of funds in connection with the pay ment of about $500,000,00 in inter- est and dividends today together with fears of an increase in the New York Federal Reserve rediscount rate after the close of the market, tended to keep hullish enthusiasm in check. Failure of the rails to re- spond to the increase in the Balti- more and Ohio dividend indicated that the news had been discounted, although Union Pacific had dupli- cated the years high before the end of the first half hour. Buying dem- onstrations in a few amusement shares, tobaccos and specialties were counter balanced by the heaviness of q number of motors, chemicals and equipments. International Shoe, which has not been dealt In for some time, broke points below the previous sale. Foreign exchanges opened steady, demand Sterling rul- ing around $4.S42. and French francs about 2S0 cents.
 Bidding up of selected shares, particularly the high grade railroads including New York Central, Nickel Plate, Atchison, Chesapeake and Ohio and Union Pacific, the last mentioned touching 166, the highest in 20 years was intellectual in caus- ing a general upward turn. Higher levels seemed to bring out increased offerings, with the severity of the de- clines in some shares being attribut- ed to the winding up of pool opera tions. General Railway Signal de- clined 1 1-2. The renewal rate on call loans. as was expected, was lift aJ clipbtl,r to . nor cont