New Britain herald., 1926-12-15
TAKING
 CHECKS ADVANCE
Early Declines Range From One
 to Three Points

New York, Dec. Is P-Heayy protit-taking and bear selling tenn porarily checked the upward move ment of prices In todays stock mar ket, but all offerings were well ab- sorbed and the market was headed upward again by early afternoon. A heavy return flow of funds previous ly withdrawn by interior banln for mid-month payments resulted in the lowering of the call money rate from , to F per cent facilitating the op- erations of professional traders.
 United States Steel resumed the leadership of the advance, by nov ing up nearly points to 155, a new high on the current upswing and within five points of the record high established earlier in the year. The weekly steel trade reviews reported little change in mill operations, but stress the promising outlook for fur ther railroad buying.
 Early declines ran from l to 5 points, but many of these were made up and converted into gains when the afternoon rally got under way. Commission houses reporhed a fur ther expansion of public interest which was noticeable in the broad ening demand for stocks.
 Atlantic Refining scared nesNly points on buying influenced by e&- pectations of an early resumption or dividends. Texas and Pacific Land Trust jumped 100 points on a few odd lot sales to new record high at 145o. A number Of other oils were under accumulation in antici- patton of unusually favorable 1926 earnings statements. Strong spots also developed in the tobacco, ship ping and public utility groups. Rails were quiet, but strong with Erie first preferred crossing 51 to the highest price in about 10 years.
 Wall Street Opening
 Establishment Of new high record for all time by the common stock Of the Baldwin Locomotive company featured the resumption of the upward movement at the opening Of today's stock market. U. s, Steel common, General Motors, Allied Chemical and most of the other standard industrials improved fractionally on opening sales. Oils were under heavy accumulation. One lot of 10 shares of Texas and Pacific Land Trust changed hands at 1410, an overnight gain of 60 points.
 The main price movement con- tinued upward through the early trading although it was apparent that operators for the advance were encountering stiffer resistance. American Agricultural Chemical preferred was bid up sharply on buying influenced by the quick dis position of the antitrust suit brought against it and number of other chemical companies by the federal government. Baldwin quick ly extended it's gain to more than ? points, and McCrory Stores com mon to 4 points, while more than a score others were selling q point or so above yesterdays final prices before the end of the first half hour. Spectators for the advance were attempting to the optimistic 1927 busi- ness forecasts now making their With the industrial average at the highest level on rec ord and all sorts of rumors circu- lating around Wall street. the pub lie was beginning 10 take more of an interest in the market. Sales crossed the 100000 share mark yesterday for the first time in six weeks. Foreign exchanges opened steady, with demand sterling quoted around S4.S4 S-4 and French francs around 3.95 cents.