New Britain herald., 1926-08-09
MELON CUTTING IS
 BOOM ID MARKET
Upward Trend Continues With
 Spectators Active

New York, Aug. g P)-Resump-
 ton of the main upward movement of stock prices today was accom-
 panied by marked expansion in public participation. With a specu-
 lative imagination fired by prospects | of melon cutting" by some of the
 large industrial corporations this
 fall and by increased cash dis
 bursement on the common stocks of others and money in plentiful
 supply, operators working for high CT prices found little difficulty in | attracting a following.
 Buying orders were again spread
 over broad list but manifestations
 of group strength were most ap-
 parent in the steels, equipments,
 chemicals public utilities and
 foods. Buying of the motors cen- tered largely in General Motors, which established another high record for all time around 225 as against closing quotation of 217 last week. All sorts of rumors are in circulation as 10 the probable action of General Motors directors on Thursday, but most traders look for a stock dividend of 50 or 100 per cent and an extra cash dividend of s4, in addition to the regular payments.
 The Van Sweringen issues led the advance in the railroad group. Nickel Plate" common and Chesa- peake and Ohio common each mov- ing up at least four points while Chesapeake and Ohio preferred and Perre Marquette sold points above last weeks final figures.
 Prospects of higher dividends also influenced the buying of Case Threshing Machine, American Radiator and R. H. Macy, Loose Wiles Biscuit and DuPont, all of which sold five to ten points high CT. Activity of Shubert Theaters was associated with reports that dividends on the stock would be inaugurated next week.
 Wall Street Opening
 Aggressive bidding for leading railroad and industrial shares usher ed in the new week in the stock market. Bullish enthusiasm was heightened by enormous buying of General Motors, which opened with a block of 12,00O shares at 220-221. and quickly extended its gain to fhon iAnitAtc opened ,1-2 points higher and Southern Railway Cudahy Packing, Dupont and Air Reduction reached new top prices on initial gains of l 10 points.
 Whit General Motors and other large corporations meeting for divi- dend action this week. rumors of generous distributions to stockhold- CTS accelerated the upward mve- ment. Commission houses reported a great influx of outside buying as result of the spirited rise in the premier motor stock to high rec ord and the vigorous outburst Of buying in the rail shares late last week. Meanwhile. various pools re- stunned their operations with enthu- siasm and some noteworthy ad- vances resulted. Ten thousand 1 shares of Warner Picturse were talk 1 en at 32. high price, representing 1 l gain of more than 4 points, while 1 Air Reduction and Dupont mounted | points to new peaks. New York | Central was added to the list of | rails recording new top prices for | he year. Foreign exchanges were | irregular, French francs opening | slightly lower. willie Spanish pesetas rallied 16 points. Demand sterling vas unchanged.
 The national industrial conference board has made public the results If a study of manufacturing corpor- ltion incomes with the declaration hat despite many individual cases | if "abounding prosperity" industry IS a whole is operating on smaller i margin of profit than at any time since the war. 1921 alone excepted. The survey was made applicable to 1925 and the first half of 1926 trough a connarison of conditions n 1928 which Were the last on which definite figures were available.
 All Chem and