New Britain herald., 1927-03-10
RAILROAD STOCKS
 LEAD IN ADVANCE
Market Shows Considerable
 Strength Today

New York. March 10 tPl-The up- resumed today with the rails again in the forefront of the advance. Seasoned dividend paying rails and induStrials, offering q return in ex- CESS of the open market rate, and current high grade bond yields were well supported by investment buy iIg, which has been reported as fairly heavy in the last few days, despite the approach of income tax payments.
 There was no change in the credit situation, and an apparent abund- ance os funds was available at the 1 per cent renewal rate on call loans. The bank of England rate nas announced as unchanged at 5 per cent. Directors Of the New York Federal Reserve bank meet after the close of the market, but no immediate change in the per cent rate is looked for.
 The tonnage report ot ths r. s, Steel Corporation. showing a drop oE slightly more than 2o0,00o tons in thrilled orders last month, was slightly better than expected in view oC the relatively high rates Of op- erations. Wall street apparently regarded the report as bullish be- cause |, $. Steel common crossed lGl. and the new when issued" stock touched q new high record at 117 Is. 4
 General Motors again changed hands in largo blocks at advancing prices duplicating the high record of l13l2 established since the declaration of the stock dividend. Mack trucks also received good sup port, but Hudson. q recent strong spot, quoted down and moved with in rather narrow limits. Stromberg Carburetor touched another new low record at 2S.
 Remington Typewriter scared s points and the certificates of deposit l-4. both touching new record highs Baldwin. Federal Minning 1 Smelling. common and preferred. Norfolk X Western, Lchieh Valley and Wabash also recorded large gains. but Commercial Solvents B was heavy.
 Wall Street Opening
 Broad buying was again in ov.- dence at the opening of today's stock market, with investment railway shares and specialties rec ordinc the best gains. Initial ad- lances Of point or more were scored hy Bangor X Aroostook, Frisco" and International Com busrion.
 Operators for the advance with in the first half hour centered their attentions upon such specially leaders as Baldwin and Crucih'e Steel. which recorded early gains of 10 points. General Motors also was an early favorite, selling at the highest point since the declaration of the 6 per cent stock dividend soon after the opening Overnight accumulation of orders stimulated Du Pon1. which soon SbiI d0oNc 13i, Lllc llS ItSr HEuFt in seven years. Strength of inds- pendent steel shares probably was to reports of increased steel output and stilfenlng prices. Oil shares were in active demand within narrow range in the carly trading in anticipation Of favorable dividend action on some of the low priced issues, Tho general market derived stimulation from the grati- flying response to the governments program of new financing which was responsible for the elevation to record peaks Of many of the long term government issues. A 6 point advance in Spanish pcsetas 10 q new high featured the opening in foreign exchanges, with demand sterling quoted around s4.St 5-4 and French francs just above 800