New Britain herald., 1926-11-12
STOCK PRICES ON
 THE UPWARD TREND
Public Interest Showed by
 Broadening Demand

New York, Nov. 12 R-Stock prices surged upward today on heavy buying for both accounts; ex- pansion of public interest was ln- dicated by the broadening demand for stocks, which sent over three score issues up one to five points; pools were again active in num- ber Of specialties. Bear traders made little effort to oppose the ad- vance except in the food and bak- ing shares, which showed a tem- porary spell of weakness on what appeared to be drive of the short interest.
 The unusually large extra cash dividend on General Motors, in the face of recent curtailment of sales and production Tn the automotive industry was construed as an ex- pression of confidence in the future of business by operators working on the side of higher prices. The in- crease from SOL 10 S4.5 per cent in the reserve ratio of the New York Federal Reserve bank during the past week offered further testimony to the ease of credit conditions. Prompt over subscription of about s50,O00oO in new bond offerings today also was favorably regarded.
 Failure of the directors Of the Standard Oil company of New Jer- sey to take action today on the re- tirement of the preferred stock caused no serious concern, as an official statement Of tho company set forth that the plan was still un- der discussion.
 Baldwin led the advance Tn standard industrials by climbing four points to 1si 5-s, the highest price in months. General Motors recorded an early gain of points before it encountered q heavy VOL ume of profit taking and some short selling. U. s. Steel touched 15l 5-s, the highest price in over month. Among the many issues to sell
 8 to 5 points higher were II, s' Cast Iron Pipe, Woolworth, south Porto Rican Sugar, Atlantic Coast line, Dupont, Otis Elevator and In ternational Harvester.
 Wall Street Opening
 | Stock prices bounded upward at the opening of today's market. U. | $, Cast Iron Pipe showed an initial gain of 8 1-2 points, Federal Light and Traction ? IA and Woolworth. United Drug, Case Threshing Ma chine and Atlantic Coast Line. to points, The first sale Of General Motors, which yesterday declared an extra dividend of s4 on the common stock. was block of 4,- | 900 shares at 15o. up 7-S.
 The market gathered strength as trading progressed, with the de- mand embracing a wide assortment of shares. Easy money rates and the optimistic business forecast by President Sloane of General Motors l encouraged bullish sentiment.
 Blocks of 1000 to 5000 shares were common in the early deal- | ings. General Motors was heavily | bought TOT poth accounts, cioosiHs 151 before the end of the first half hour. Pools were again active in a number of specialties, the early leaders including Commercial Solvents B, Otis Elevator, Dupont, Market Street Railway prior pre- ferred and Westinghouse Air Brake, Rails joined the upward movement under the leadership of New York Central and Reading. Foreign ex- changes displayed a strong under tone, demand sterling holding firm just over s4.S4 1-2 while French francs jumped Ii points to S,S2 cents and Italian lire rallied over points to around d.lS cents. O.t NF DpJTFC