New Britain herald., 1926-03-15
SOUTHERN RAIL
 SHOWS WEAKNESS
Chief Feature Of Reactionary
 Market Today

New York. March IS Pl-Weak- ness of the Southern railroad shares due 10 heavy selling inspired by widespread rumors Of over-extcnded land speculation In Florida, was the outstanding feature in today's reac- tionary stock market. Atlantic Coast line broke l2 2.4 points 10 EOS l-2, Seaboard Air Line dropped 3 l-t 10 SS S-f and the preferred IA 10 S7 S-4, all new low records for the year. Southern Railway also sold down points below last weeks close. Sporadic efforts were made by operators for the rise 10 rally tn, list by bidding np special stocks, such as Allied Chemical, General Motors, Hudson and r. s. Rubber, but they failed 10 elicit much re- sponsc in other quarters. Founda. ton company broke points to par in tho early afternoon. South Porto Ricnn Sugar was off 5 1-9 points and Ward Baking "B' 5. With the exception of Belgian francs which broke nearly 5o points on reports that the forthcoming rcvaluation would be around the cent level. the foreign exchanges held relatively steady in the face of the serious poli- tical situation which has developed over Germany's entrance 10 the League of Nations.
 Wall Street Opening
 Selling attacks were resumed in the stock market as trading opened today with speculative offerings based partly on the probah hiity of tigher money conditions Tn connec- ton with the days huge turnover of tax and interest payments. Initial declines of 10 points were record cd by American Smelling. Savage Arms, Jordan Motors and Ches- apeako and Ohio. Fractional re- sessions were general among the motors and other industrials,
 Short selling increased in volume when the early decline failed 10 bring in the customary quota of sup porting orders. More than a score of representative issues fell back to points in the first half hour with pressure directed principally against the motor. public utility and food shares. Allis Chalmers dropped 3 t-3 points and carly losses of 10 ! , l-o points included American Wa ter Works. Ward Baking "B,' Pos t,,p, polIu'in n rtIa ion n Paper. United Cigar. Dodge. Chrys- Ter. White and Nash Motors. and American Can. Rail stocks also yielded some of the last weeks re- coveres. Atlantic Coast line. South orn Railway. Wabash and Perc Mar quette sagging 1 10 points. Both the American Agricultural Chemical issues sold at the years low prices.
 A sharp break Of 47 points in Bel eian francs to 4.06 l-2 cents aroused reports that the forthcoming rcvalu- ation would be around the 4 cent level. Other foreign exchanges were slightly easier with sterling at $4S5 3-4.
 | Seaboard Air Line declined AZ 10 Sl1t, the lowest of the year. and | Atlantic Coast line increased it's
 loss to [ points. Their weakness,
 however. did not prevent q strong rally in other railroad shares, , which ill turn injected strength in- 10 various industrials and special 1 ties. Chesapeake X Ohio sold 4
 points above its early low figure 1 and Delaware X LaCkawanna, Della
 ware X Hudson. Norfolk, AtChison,
 Missouri, Kansas X Texas pfd. and
 Texas Pacific rose 1 10 2%i above Saturdays close. General Electric
 was lifted points and Famous Players and |. $. Cast Iron Pipe j,
 Call loans renewed Uncanged at ! ill per cent,