New Britain herald., 1927-06-20
TRADING IS DULL
 IN T0DAY'S MARKET
Spectators for Advance Con-
 tinue in Control

New York. June 20 R1Specu- lators for the advance regained con- trol of the price movement in today's stock market, after an early period of irregularity but trading was rather dull on the rally. Uncertain ty over the change n brokers loans last week, the total of which will be made publi; by the Federal Re- serve bank after the close of The market. tended to keep trading in check. In view of the fact that the fig ures cover the week ended last We'd nesday, and that a sharp reaction took place the day before, a de- crease would naturally be expected but so much capital has been tied up of late in financing new security offerings that it is impossible to make estimates with any degree of accuracy. Renewal of the call money rate at per cent. in view of the third successive deficit in clearing house reserve, tended to allay some uneasiness over the credit situation. | LdIly lOSSCS Vl tO pOllllS III many issues were substantially re- duced, or wiped out when brisk de- mand developed for some of the high priced specialties under the leadership of Houston oil. which scared points. Nearly score of new peak prices were established. the list including Air Reduction, American Bank Note. American Steel Foundries, Sears Roebuck, Vivau- dou common and preferred. St. Paul preferred and Chicago and Alton preferred.
 A stronger undertone also was noted for several of the food shares, particularly Continental Baking A. National Biscuit, and Postum Cereal. Renewed weakness of White Motors aroused fears for the safety of the s4 annual dividend on that stock.
 The Kansas City Southern railroad. in first report of its May earnings. showed an increase of more than $45.000 in net income over the same month last year. Both the common and preferred stocks of the road ad- vanced to new high levels for the Iyear.
 II Wall Street Opening
 Irregular price movements occur led at the opening of :oday's stock : market, with St. Paul preferred | starting at 30, a new high for the year, while White Motors sank to a new low of 42. Pittsburgh Coal was up 5-S points on the initial sale.
 Uncertain price movements char acterized the early trading. Although the credit situation appeared easy last week, some uneasincss was ex- pressed as a result of tho third suc- Cessive deficit in reserve in the
 weekly clearing house statement. , Kansas City Southern crossed 63 to q
 new peak and good buying also de- veloped in Texas & Pacific. Western Pacific, Lehigh Valley and Norfolk & Western, but Katy common was
 Eeavy. Tobaccos gave an early dem-
 onstration of group strength, with Consolidated Cigar in the forefront of the advance. White Sewing Ma chine and Pierce Oil preferred were ileu to new lS-f pednSs lduo
 Fuel, which was quickly run up 5
 points on Saturday. fel back on profit taking. but Barnsdall A was again taken in fairly large blocks. General Refractories quickly sold down 2 points and reactionary ten- dencies also were shown by Mack Trucks and U. s. Steel common. For eign exchanges opened irregular. De- mand sterling yielding slightly to around S4S5 3-16 while French
 francs held steady around 3.91 1-4 | cents.