New Britain herald., 1927-06-02
FREAkISH MARKET
 BUT HIGH PRICES
Frequent FlurriS Give Trading
 Irregular Appearance

New York, June 2.-P-Fre- quent flurries of selling for both ac- counts swept through today's stock market, giving it an irregular ap- pearance. Operators for the rise however. continued to bid up special stocks, lifting several score to new peak prices. Buying and selling or ders. most of them for small amounts were spread over a broad list. At one time during the morning, the ticket tape was 22 minutes be- hind the market. but most of the delay had been made up by early afternoon.
 Call morey held firm at 1-2 per cent, but there was only the normal calling of loans. The Bank of Eng land discount rate was unchanged at 1 1-2 per cent and no caange in the 4 per cent rate of the New York Federal Reserve bank was looked for when directors met after the close of the market.
 Some of the early selling is be- lieved to have been inspired by the complications arising as result of the Mexican presidents decree for bidding governmental departments to purchase supplies in the United States, and by the report of the In- terstate Commerce commissioner eX- aminer suggesting rejection of the New York Central's plan to acquire the "big four as part of it's unifica- tion plan.
 New leaders were brought for ward, however, in the railroad group. Norfolk and Southern stand ing out with quick jump of points to a new high above $57 a share. Rock Island. Erie Common and First Preferred, Chicago North western Common, Delaware and Hudson and Wabash A also reached new high ground. Jersey Central and Pittsburgh and West Virginia gave ground readily when selling pressure developed in those issues.
 L. s. Steel Common was sluggish, but General Motors again climbed around the 200 level to within a fraction of its record top. American Smelting. National Lead, American Water Works. Detroit Edison and Coca Cola also reached new high ground.
 Wall Street Opening
 Operations for the rise were re- stunned at the opening of the stock market today, with advances, how ever, mostly of a fractional nature General Electric opened with a block of ",500 shares changing hands at 1O7ha, up 1,4. and a new high rec ord. New York, Ontario and Vest ern started a point higher.
 \ number of recent favorites were bid up briskly, many new tops being attained in the early hour Laclede Gas quickly jumped points to a new high record of 265 following yesterdays gain of 17A and A. NJ. Byers advanced 3A tc 92a. also a new maximum. Ameri. can Can sold up point to new top on announcement of an income tax refund Of nearly s3.0O0,000 Several railroad issues continued tc move upward. new highs being reached by St. Louis, San Francisco at 1167-S, Missouri, Kansas, Texas at 55iG. Wabash at sos and Read ing at 122a4. advances ranging from 1 to points. Buying of invest ment rails doubtless was encouraged by the fact that freight loadings crossed the million-car mark for the seventh time this year. Buying also was stimulated by the return ot much June 1 dividend money to the market. General Motors gained q point to 199 s, and new peaks were scored by National Biscuit preferred and Timken Roller Bearing while several others moved up a point or so. An overnight jump of 8 points in Italian lira to 5.5s cents featured the steady foreign exchange open irg. Demand sterling was quoted around s4.s5ss and French francs close to 3.9l cents.
 THE MARKET AT 2:30 P. NJ.