New Britain herald., 1926-08-11
BULLS IN CONTROL
 Of MARKET TODAY
SpeculatOrs for Advance Shove
 Prices Ahead

New York, Aug. II Rp-Speculst- ors Tor the advance regained con- trol of the price movement in to- days stock market. With the tech meal position of the market obvious " improved by yesterdays sharp re- acton and no appreciable overnight accumulation of selling orders. oper- ators working for higher prices found little difficulty in bidding LID their favorites, being aided by an abundance of loanable funds at Az per cent.
 Steel shares, which were heavy on selling reflecting speculative dis appointment over the relatively small increase in the thrilled orders of the United States Steel corpora tion, regained part of their lost ground on buying influenced by the optimistic tenor of the weekly trade reviews.
 Rails responded to the publication of another recordbreaking freight traffic statement, with the demand centering largely in the investment issues. Norfolk and Western touch- ed new peak price for all time.
 Trading in General Motors quieted down considerably after the drastic decline of yesterday but it was sell ing five points above yesterdays final quotaton in the early after noon, Mack Trucks was again active and strong on reports of large cur rent earnings. A sudden run-up in Ward Baking "B" and the establish ment of new peak prices for the year by R. H. Macy, Butterick Publish ing and Yellow Truck and Coach preferred also attracted widespread speculative interest. Rumors that the Foundation Co.,, would cut it's dividend proved to be unfounded, the regular quarterly rate of s2 be- ing declared.
 Renewed selling of L. S. Steel in the afternoon caused the rest of the market to ease off, although several specialties continued to attract sub stantial buying support.
 Wall Street Opening.
 Speculative uneasiness over the tighter credit situation was still in evidence at the opening of today's stock market. Moderate recoveries from yesterdays drastic decline took place in General Motors and L. S. Steel, but selling activities were extended in other quarters of the list, giving the market an irregular appearance.
 Strength was shown by Mack Trucks, which reached a new high on the current movement, while Hudson and other representative mo- tor shares also developed a steadier tone. Trading was quiet in contrast with recent sessions and prices fiuc- tuated within a rather narrow range. Case Threshing Machine, Allied Chemical American Safety Razor and other popular specialties were in demand. Rail shares were slug gish despite expectations of further expansion in traffic and favorable earnings reports for July. Foreign  exchanges were slightly easier, with French and Belgian francs selling around T cents. Demand sterling was steady.
 The big short interest which had been treated in yesterdays selling moveemnt scrambled to cover this morning when buying orders began to flood the market for all classes of stocks. Little difficulty was experi- enced in boosting the prices of many shares from to $ points including General Motors, Dupont. Loose- Wiles biscuit, Case Threshing Ma chine, U. S. Cast Iron Pipe, L. S, Industrial alcohol and American Agricultural chemical preferred. The renewal rate on call loans was raised to 4 1-2 per cent.
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