New Britain herald., 1927-12-22
STEEL BECOMES MARKET FEATURE
Pools Again Display Strength in
 Many Sp&ialtiS


 New York. Dec. 23 R-Despite sporadic efforts of bear traders to bring about a reaction, the storm market continued to point upward today on heavy buying for both speculative and investment accounts. Sensational gains took place in a few of the insurance company shares, which are reported to have had <he best years in their history. Pools were again active in a wide assortment of specialties, but the amusement copper, merchandising and steel shares gave the best demonstrations of group strength.
 Marking up of the call money re- newal rate to 1 1-2 per cent was re- garded as temporary, due to the heavy seasonal demands for cur rency. Uneasiness developed in some quarters over the volume of brokers loans which will be an- nounced by the federal reserve bank after the close of tho market Be- cause of the unusually heavy volume e of new financing this week and the advance in stock prices a substan- tial increase is looked for Tn many quarters.
 U 8. Steel common regained its role as market leader by moving up more than points to 151, the high est price since early October. Cruci- ble ran up over 3 points Buying Of the steels was stipulated by the more cheerful trade reports. Re- newed accumulation Of the copper shares sent Chile, Cerro De Pasco, Kennecott and American Metals to record high prices.
 Paramount Famous Players cross ed l15 to new peak on reports that fourth quarter earnings would ap- proXimate s4 share. New tops also were established by International Harvester, National Cash Register and American Agricultural Chemi- cal preferred.
 Weakness developed in American Woolen preferred, New York, On- tario & Western, A. M. Byers, Wright Aero and Greene Cananea, although some of the losses were cut down or wiped out in the early afternoon rally.
 Wall St. Opening
 Stock prices moved irregularly higher at the opening Of today's market. A block of 5000 shares of International Nickel changed hands at S2 34 a new high record. Ameri- can Sugar opened points higher and American Steel Foundries was up a.. New York Ontario & Western had decline Of 1 1-2.
 Despite further chopping out Of irregularity in some sections, heavy buying of some of the low priced oils led In fairly wide avance. One block of 15,0OO shares of Sin clair changed hands in the early session at P, after which the price went fractionally higher American Metals quickly jumped more than 2 points to new peak, followed by a few others including International Harvester and some of the coppers. Manati Sugar and Rossia Insurance were also among the early strong spots. Simmons. which has been weak recently, was soon selling 2 points above yesterdays close, but early heaviness was shown by Wright Aeronautical, Radio and Abitibi Power American Smeiting moved contrary to the other metal shares. declining nearly 2 points in the first half Jour. Italian lira drop ped 15 points to 5.27 12 cents, fol- lowing the stahilization of the cur rency on a gold basis at 19 to the dollar, or 5.31 cents. Demand ster- ling ruled around s4.s7 7-S and French francs close to 3.95 1-2 cents.
 Prices of many important shares took long stride forward when '. s. Steel was suddenly marked up to 150 5-S. the best figure of the CutlCill IlScs T lASllly llNltiA llioti ance improved 16 10 2So. Para mount Famous Players sold at 115. International Nickel al S5 and Montgomery Ward at 120 l-2. all new tops for the year. The renewal rate for call loans was advanced from 4 to 4 1-2 per cent.
 New York, Dec. 22 UP)-Wall street will pause today for its an- nual Christmas tree celebration.
 Led by the 18th Infantry band. the Gloria Trumpeters and the Mendelssohn quartet, the employees of Wall street firms will gather and sing Christmas carols in front of the Stock Exchange where 40-foot tree has been erected.
 The program will start at s:45 with the sounding of the stately old chimes of the Trinity church and will be broadcast over station WNYC.
 THE MARKET AT o.3O P. VT.