New Britain herald., 1927-01-06
.REACTIONARY MOVE !.
 NOTED IN MARKET.
Operators for Rise Try in Vain
 for Increases

NeW OrR, Jan. LtJ-EeactlOn ary price movements predominated in todays stock market, which failed to respond to a lowering of call money rates. Operators for the rise tried valiantly to bid up special stocks, and met with a fair measure of success in Baldwin and a few amusement shares. but it seemed that standard industrials and rails were in supply on every rally.
 Except for reports of furthar complications In the Chinese and Mexican situations, and the taking of a strike vote by railroad con- ductors and trainmen on some of the southeastern roads, there was noth- ing in the days news to explain the selling movement. After several weeks of unfavorable comparisons. car loadings for the week ended De- cember 25, showed @ substantial in- crease over the corresponding week before. and the production sched- ules of the United States Steel corporation showed a substantial in- crease In the operation ratio. The large premium offered by the suc- cessful bidder for the s60,000,000 issue of 1-4 per cent corporate stock of the city of New York was accepted as an indication of no signs of strain in the credit situation. Talk was again heard of possible de- iy, Ic serve rediscount rate.
 The brisk demand for Baldwin was attributed to resumption of specu- lative operations in that issue by a group of Chicago spectators. Pull man also received better support on unofficial assurances that special dividend action was in prospect, re- cent declaration of only the regular dividend having caused disappoint- ment in speculative circles. Some of the oil shares also showed temporary outbursts of strength on buying as- sociated with predictions of unusual ly large 1928 dividends.
 National Tea broke I points, American Safety Razor dropped 8 and Hudson Motors, Jewel Tea, Por- to Rican tobacco and Postum Cere- al were among the issues to sell down ? points or so. while point de- clines were rather numerous.
 Wall Street Opening.
 Resumption of pool operations in a number of specialties featured the opening to today's stock market. Prices generally were firm, but most of the gains were limited to small fractions. Rails were in slightly better demand under the leadership of Frisco common, which opened q point higher. Fox Film A and War ner Pictuers A were active and strong on the announcement ol an agreement for an exchange of pat ent rights in talking motion pictures. Renewal of selling pressure against the shares of companies operating in Mexico, inspired by the reported decision of President Gales 10 increase gasoline and tobacco taxes, turned the general course of pl1CtS uUN /" dI SOOll tiINGI lilV opening. Some uneasiness also was apparent over the Chinese situation. Early losses of l to nearly 21@ points were recorded by the American issues and American Smelling which are always sensitive to economic and political developments in Mexico. Case Threshing Machine broke near ly five points in the first half hour, and such recent favorites as Union Carbide, Allied Chemical, Famous Players. General Motors, Stewart Warner Speedometer and Continent al Baking sold a point or more be- low yesterdays final quotations. Baldwin with an early gain of F points, was one of the few strong spots. Rails were slow in responding to the announcement of an increase in car loadings in the week ended December 25, compared with the same week the year before. after several weeks which had shown de- creases in the comparisons.
 THE MARKET AT 2:3O P. NJ.