New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1926-07-23
MARKET REMAINS
ABOUT EQUAL TODAY
Buying and Selling Forces Sta
billie Activity

New York, July % Ps-Mixed
price movements in today's stock
market reflected the play of oppos-
ing speculative forces, with honors
about even during the greater part
OF the session. Trading was largely
of a professional character, the alb
sence of public participation ac-
counting for the relative small
yalume in business.
Trade and business news con-
tinues largely constructive in char
acter, one of the principal develop
ments today being an increase in
lead prices. Firmness of French
francs and French bonds in the New
York and foreign markets indicated
the most cheerful feeling existing
in financial circles over the ability
OF the new French coalition govern.
ment to bring order out of the chaos
into which the finances of that
country have fallen during the past
few weeks, Call money continues
relatively easy due to the enormous
volume of funds seeking temporary
investment in the local market, but
slight stiffening has been noted
recently in some of the longer time
loans in anticipation of the usual in
creased demand coincident with the
crop-moving season.
Railroad shares were slow in re-
spending to the announcement that
plans had been completed for the
great southwestern merger. Freight
traffic is being maintained in large
volume, the Atchison reporting that
loadings on its lines broke all daily
records yesterday.
General Motors, after having es-
tablished triple top" around $40
a share continued to receive good
support just below that level, de-
spite sporadic bear attempts to force
sharp recession in that issue.
Enthusiasm for the oil shares al
together panhandle producers and
refiners displayed a sudden outburst
of strength, high priced industrial
specialties and food shares showed
a tendency to yield to selling pres
sure.
Stock prices displayed a strong
undertone at the opening of today's
market. Bear traders who had sold
stocks freely late yesterday in anti
cipation of an increase in the New
York Federal Bank rediscount rate,
which failed to materialize, rushed
to cover their commitments, initial
gains of a point or so being record
ed by Mack Trucks. General Elec-
trio new), Congoleum, Colorado
Fuel and U. S. Steel common.
Execution Of a large volume Of
overnight buying orders brought
about numerous gains of 1 to 5
points in the early trading. specu-
lators for the decline renewed their
attacks, however, whenever the
popular industrial issues showed
signs of slowing-up, indicating
their belief that further down
ward revision of prices was neces-
sary after the recent sustained adj
vance, Steels gathered fresh
strength from the publication of the
favorable quarterly report of the
Bethlehem Steel corporation, with
encouragementad derived
by operators on the long side from
the statement of President Grace
that the recent increase in steel
prices had not caused any appreci.
able lessoning IN demand. Bullish
operations were conducted with
vigor in a number of specialties,
Burns Bros, A being one of the
first to be pushed up to a new high
level for the year on a quick run
UP of over points. Foreign ex-
changes made further recovery de-
spite overnight reports that for
mer Premier Poincare of France
was having some difficulty in form.
ing a coalition government.