New Britain herald., 1926-04-23
BULL MOVEMENT
 HITTING MARKET
Scores of Issues Jump From One
 to Dozen Points

to Dozen Points
 By the Associated Press.
 New York, April 2S.--A sweeping advance in prices took place in to. days stock market as result of the reduction in the New York Fed eral Reserve bank rediscount rate, accompanied by recessions in other monetary accommodations, Tho early gains ran from one to l2 points and encompassed Q wide va riety of issues. Professional bear traders apparently were caught nap ping by the reserve banks action. many of tho large blocks of stocks appearing on the tape representing the covering of short commitments "at the market" Commission houses also reported a growing in- crease in public participation and renewal of the activity on tho part of "bull" pools, whose operations are facilitated by cheap money. Big Four" common stock led the advance by soaring l2 points to lS5ii, Fidelity Phenix Insurance jumped six points and Atlantic Coast Line 514. An early gain Of 7ls points in General Electric was lost by the traditional selling on tho goods news" which followed the au- nouncement that the stock would be split mp on q four to one basis and a dividend of "a cents share de- c)ared on the new stock, after the plan had been approved hy the stockholders. Practically all the standard rails and industrials par ticipated in the upwards movement. with a strong investment demand noted for the seasoned dividend pay ing issues. Trading was in enor- nous volume, total sales exceeding l,5oo,oOo shares before the end of the third hour.
 Wall Street Opening
 The unexpected decrease in the New York Federal Reserve bank rediscount rate brought flood of buying orders into the stock mar ket overnight, with the result that opening prices displayed strong tone. General Electric opened 8 points higher and initial gains of a point or two were recorded by Wo0worth, Pierce Arrow, General Motors, Baldwin and Atchison. Bethlehem opened nearly q point higher in reflection Of the report for the first quarter, showing $2.G6 share earned on the common stock, as against $1.66 in the first quarter of 1925.
 Total sales in the first half hour approXimated $4500OO shares.
 Buying orders were spread over an unusually broad list with bear traders frantically bidding for stocks in order to cover their com. mitments. General Electric quick. ly extended ifs gain to over five points, National Tea jumped l-2 and American Ice. Du Pont, Hud- son Motors, Remington Type writer, Montgomery Ward, National Biscuit, Pittsburgh and West Nir- ginia, Norfolk and Western and Atlantic Coast Line sold ? 1-2 to 5 1-2 points above yesterdays final quotations.
 While public participation un. doubtedly was in large volume, the transfer of enormous blocks of stocks. ranging from 1000 to 1O.. VOO shares, indicated the buying and selling by powerful financial interests. In many quarters there | was d disposition to regard the Federal Reserve banks action as an indication that the corrective movement in stock prices had pro- ce"ded sufficiently far 10 permit T lower rediscount rate as a stimulus 10 business, many lines of which . had shown a marked falling off in the last few weeks.