New Britain herald., 1926-12-22
MOTOR STOCKS ON
 EXCHANGE STRONG
Railroad Issues However, Are
 Very Heavy

New York, Dec. 2c.--4P- Price movements again lacked uniformity in today's stock market. with the heaviness of the rails and the strength of the motors and public utilities as the contrasting features, Trading was in fairly heavy volume despite the stiffer call money rates and the departure of many traders for extended holiday trips.
 The days news developments were largely constructive, with re- ports of record breaking holiday trade and a new series of Christ mas dividends" attracting the most attention. The weekly steel trade re- views reporcd a further slackenine in demand but this was regarded as seasonal.
 Heaviness of some of the stand ard rails was attributed to the off cial denial of dividend rumors con- corning some of the large roads, and the publication of a few poor No vember earnings statements. Despite the general reactionary trend in this group. St. Louis-San Francisco common and preferred were mark cd up to new high levels for the year. while Erie first preferred touched the highest price in a de- cade.
 Buying Of the motors centered To iy, nd Hudson. being based on expectations of increased business through the sale of new models to be introduced at the New York automobile show next month. Raising of the annual dividend Of Julius kayser from S3 to S4 infused new strength in the mer- chandise issues. Pools were again at work in number of specialties, particularly South Porto Rican sugar. The Collins & Aikman issues and international telephone.
 Wall Street Opening
 Selling of the oil shares contrast cd with better demand for the merchandise. issues al the opening of the stock market today. Marland and Mid-Continent Petroleum were conspicuously heavy. Union Pacific was sold on it's lower November earnings but Erie First preferred, Frisco and Delaware s Hudson worked materially higher.
 Prospects of more generous divt- dends accounted for the selective chara cter of the early buying, which was most effective among the indus trials. Advances in the rails were less uniform, although Frisco at tained 9 record high price on expec- tations of an early dividend for Rock Island in which It holds large in- terest. New York Central, however, yielded a point as heavy selling foi- lowed the official denial that a stock dividend was contemplated, while Chesapeake &s Ohio also lost ground, Attempts to work up bullish en- thusiasm met with little success, ex- lins & Aikman issues. both Of which mounted to new high levels and International Telephone which jumped more than points. For eign exchanges were mostly lower. with French francs falling below 1 cents and Italian lire dropping 6 points to 4.39s cents.
 Operations on the long side of the market did not prevail to any great extent when 1t was evident that the higher levels were being availed of to market stocks for both accounts. Increasing weakness of high grade carriers, such as New New Central, Chesapeake and Ohio, Atchison and Norfolk and Western undermined speculative confidence and caused active realizing.
 Considerable interest was aroused by the heavy absorption of Nash Motors which rose points to 6a 7-s, the highest since the declaration of the 900 per cent stock dividend. The renewal rate on call loans was con- tinued at 51s per cent.
 THE MARKET Al c:30 P. M.