New Britain herald., 1926-02-04
SELLING MOVEMENT
 FEATURES MARKET
Upward Trend Is Temporarily
 Checked Today

New Ys~s. Feb. 4 LPl-Marklng up of the ctn money rate 10 5t. per cent as result Of ihe heavy calling of loans by out of town banks, started q selling movement in 10. days stock market which temporar- fly checked the upward movement of prices. Baldwin. American Smelting. Consolidated Gas Canal ian Pacific and several other popu- lar rails and industrial were car ried 1 to points below yesterdays ttncl quotations on this reaction, but offerings were readily absorbed and the market vas headed upward again in the early afternoon.
 Ruoyuucy Of the high priced spc- Cialti"s was one Of the features, Nash motors soaring ii points to t4o, a new high record, and gain of nearly ilo points in two days, United Fruit jumped 291s points to @S9 F, also new high record, while Sloss Sheffield, American Can. AL lied Chemical. General Electric. Du- pom, and Woodwork sold to fl. points higher Oils continued to re- spond 10 stitoninE commodity prices and mcrgtr reports associated and Pacific both breaking into new high ground. Local fractions were again heavily accumulated, lntorboro Rap Id Transit and Third Avenue show ing eXtrem" gains of ais and 2 points, respectively. Heavy short covering was again apparent in the motors.
 Wall Street Opening.
 Heavy buying of the oil shares marked the initial upward move mont Of stock prices today. Merger negotiations, favorable dividend de- y"lopmcnts and advancing prices for crude and refined products promot- cd broad demand for these issues. which embraced Pacific oil Califor- mia petroleum. Sinclair and the Standard Oils of New Jersey and California. Nash Motors scared 1G points at th" opening 10 record high price Of GVl.
 With high priced stocks continu- ing to lead the way, inquiries broad rncd For low-prced industrials and spccialties, particularly the local traction. copper and oil shares. Speculative interest in the food issues was heightened by the inn minence ot further consultations in this field. with California Packing and Postum Cereal both rising about two points in anticipation of an early merger. Standard Milling. American Sugar United Fruit and other food shar's also were in dc manl, Tallying to 3t. points. { Hudson. with {, threc-point gain. led q forward movement in the motors 1 hasy,l on r.por,S of surprisingly good i January business. General Motors ! and Mack Trucks followed close be- hind while Nash Motors broke away with a sensational jump of 55 points l to a new peak at $40 on few sales Coppers followed tho leadership Of 1 Utah. Foreign exchanges were l steady with demand sterling opening slightly higher at $4.S6 7-l6.
 The rise continued at q terrific pace in some high-priced shades, United Fruit jumping @ points 10 @S9. Urgent buying of other invest ment shares continued with gains or 8 points or more becoming quit" numerous, Raising of the rates for all money to 4'2 per cent after re- newals had been established at { per cent was without immediate effect on the market Kelley wheel advanc- cd S, Commercial Solvents 4 :, tho E stock 6la. Otis Steel pfd. 6. Amer i jean Sugar and California Packing, South Porto Rico Sugar and Stand ard Milling to 4l..
 1 The closing was strong. Reports ot large earnings and pending mer- ger developments supplied the in centiNc for further accumulation Of i industrial issues i'll the late trading. ! Sloss Sheffield Stool mounted St. points and General Electric eNtend"I its gain 70 moro ,han ,. |. S. Steel threw off its carly sluggishness and
 moved back 10 lSi. A rise of 3 points in Nichel ri1;e. however. con- tasteJ with the weakness of Chcsa- i poake md Ohio, Total sales Rp- proNimatcd 1,9o0,o0o shares.
 High Low Close Allis ChM ...., %9ls 9@ o2
 Am Rt Sug ..%S %j7, &77,