New Britain herald., 1927-05-25
MARKET BREAKS ABOUT MIDDAY
Then Rallies, But Irresuarly, X This AfterOnon

New York, May 25 R-Stocl prices opened strong. broke sharpl. whom heavy selling movemen swept through the market just be fore midday, and then made irregu lar recovery when buying operationI were resumed in the high grade in. dustrials. The reaction was accom-, panied by rumors of the serious i'll, ness Of George F. Baker, veteran capitalist, but these were promptly denied.
 Some of the selling undoubtedl, was inspired by fears that the tech. nical position of the market had been weakened by the recent rapid advance in many issues. but the usual pre-holiday profit-taking also was an important influence. Sever. al relatively unfavorable April rail road income statements made their appearance during the day, togeth- CT with the publication Of a pessi- mistic forecast of Missouri Pacific earnings, due to flood damage.
 General Electric responded to the increase from B to s4 in the annual dividend by touching 101, new high record for the present issue Baldwin was pushed lip above 20. and sharp recoveries took place in U. s. Steel Common. General Mo- tors. American Sugar Refining and other industrial favorites.
 American Woolen preferred sag. ged to 50 1-2. the lowest price in 25 years, and the common was down to IT 5-s. the lowest since 1915, Real Silk Hosiery also touched a new low. Firmness of some Of the silk shares was associated with ru- mors Of q pending silk merger.
 Wall Street Opening
 Operations for the advance were resumed at the opening of today's stock market but strong selling re. slstance was encountered in some issues. Houston Mill. Liggett and Myers B and Pittsburgh Coal open. ed to 1-2 points higher. the last named at new peak. while Nickel Plate" common. Baldwin and Amer. ican Sugar Refining showed initial gains of point or so.
 Several drives against the afort interests were launched in the early trading. Baldwin was quickly bid m to a new record high at 20 and new peak prices also were established by Erie first preferred, Great Western Sugar and Otis Elevator. Apparently little attention was paid to the sharp increase in loans on securities col. lateral by mergers of the Federal Reserve system outside New York. strength of the sugar shares pre- sumably reflected expectations of higher prices as result Of the flooding of eight of the ten Louisiana sugar parishes. Revival of activity and strength in Davidson Chemical was inspired by official predictions of retirement of funded indebted ness.
 With the exception of an early drop of 1a4 points in Western Nary land. the rails seemed unaffected by the sharp decreases in earnings shown in several of the April state- ments. There appeared to be good investment demand for some of the season dividend paying issues.
 Attempts to hold up the list by bidding up particular stocks proved futile, large offerings for both ac- counts cancelling most of the early advances including Baldwin and forcing Chesapeake and Ohio, Pitts burgh and West Virginia, Case Threshing Machine, Union Bag and Paper. Commercial Solvents B and Laclede Gas 3 to 5la below yester- days final figures. Bush Terminal was showed up points. and Ma. tional Enameling and Stamping pre- ferred 6A.
 Standing loans were renewed un- changed at 4i1 per cent,