New Britain herald., 1927-10-28
SELLING FORCES
 AGAIN ARE ACTIVE
Bears Uncover Numerous Weak Spots in Market


 pressure, which had been intermit- tent in the stock market since the long decline last week was checked, was resumed in a more extensive { manner today. Encouraged by sue cess Tn creating an air ot nnrN ous- ness in speculative circles by their ability to pound down important stocks, bears forged around and managed 10 uncover other spots where effective support also was lacking.
 With q good deal or gloomy eos sip regarding tho status of current and prospective earnings, and sharr depreciation in September operating income Of important railroad sys- toms, bullish operators found it diT- fCult to hold q following even when they had managed to start prices moving upward at the outset. Early advances Of to points, inspired in large part by the big reduction in brokers loans, were transformed into losses Of as much, or more, when the selling wave swept the market.
 Confidence in the soundnrss Of fundamental conditions was reflect cd in the heavy accumulation oi particular stocks, which ordinarily move widely, but efforts to realize in some issues at the higher prices disclosed rather thin market. This was illustrated by the prccipitate fall Of 20 points in Rossia Insur- ance after attaining a new peak fig urc.
 Chesapeake X Ohio and Reading, with losses Of and 1 points re Spoctivcly, were outstanding weak spots in the railroad section. Some of the weeks lowest prices were reached here and there, notably in |. $. Steel, General Electric and General Railway Signal.
 Warren Brothers was an out standing exception, moving up Il l-2 points to a new maximum.
 Wall Street Opening
 Led by several Of the speculative fayoritos, prices moved upward al the opening Of the stock market to- day. L. <. Steel opened a point higher and similar gains were re. corded by General Electric Radio and Cluott Peabody. United Drug was up 1-l at the outset.
 Although hcsitancy developed in some quarters prices generally con- tinuod to rise in the subsequent trading. The $90,6o0 .000 decrease in brokers loans, while expected, Was a. constructive influence in the early hour, |. $. Steel met offer ings which cancelled its initial gain, doubtless in reflection of further evidence of the unsettled conditions in the industry revealed in the re- port of Bethlehem. Houston on after starting forward, fell back fol an early loss ot more than points and General Railway Signal retreat cd from its initial advance of 1 1-4 The insurance issues again surGeC forward, Continental gaining 6 l.. 10 227, Rossia 12 1-2 to 190 and Fi- delity PhcniX 1-2 to IF 1-2. all new peaks. Warren Brothers, ul 6 1-2 and Brown Shoe and Cluct Peabody, up and. 2 1-2 respective ly also improved their previous best figures. International Harvester quickly rose 3 and Case Threshina Machine points. Buying of some of the dividend rails was resumed especially New York Central and Chesapeake X Ohio, while Erie and tho two Western Maryland issues showed early strength. Foreign cx- change opened steady, demand sterling ruling around S4.S6 11-1C Spanish pesctas were off about ! points at the start.
 Signs of forced selling and fresh bear assault against |. S Steel which declined to 133 Is upset the market again. White Sewing Ma chine slumpcd 1-9 points. The plug was pulled from some of the insurance stocks which have recent ly been advancing in a spectacular fashion. Rossia Insurance crashing from 194 10 l75. International Har- vester, Case Threshing Machine, |. s. Cast Iron Pipe, Continental Insur- ancc and Fidelity Insurance tOppled , to 6 points from their carly hiph fip,lreG Tho rata DD standing call loans which carry over until Monday was continued at 1-2 per cent