New Britain herald., 1928-04-13
WALL STREET YET
 PLUNGING AHEAD
Bull Market Activity Is Re. Sumed Today

as speculative interest switched from the non dividend paying issues to the high grade investment stocks. Rails again came to the forefront ol the advance with brisk demand developing for the eastern carriers. Trading was maintained at terrific pace. with the ticker again falling far behind the market. Total sales averaged 150.ooo shares an hour in the early part Of the session. The unexpectedly small increase in brokers loans and the lower re- newal rate for call money provided the chief background for the ad- vance.
 Little attention was paid to the continued tirmness of time money and the increase in bankers accep- tance rates Formation c . big con- bination of British and American financial interests to further world trade was given bullish lnterprc- tation by Wall street.
 General Electric was one of the outstanding features of today's mar ket, soaring nearly 12 points to q new high record at l6S. Otis Eleva- tor climbed II 1-2 points. Rossia ln- surance and Adams Express 10 each and l.. s. Cast Iron Pipe g 1-2. Gains of to points were recorded by American Smelling. Wright Aero nautical, Midland Steel Products preferred, Fidelity PhcniA lnsur- ance, Brooklyn Edison. Houston OIL Electric Auto Lite. National Biscuit Greene Cananea Copper. American Express and Ludlum Steel. most or which reached new high ground. Strength and activity of Gimbel Bros. which advanced more than 5 points 10 new high ground, were based on reports that powerful financial interests identified with the recent advance in Radio, Schuite Retail Store and General Notoes' had assumed market sponsorship for the issue. New York Public lt,l- ity stocks were strong on a revival of merger reports.
 Lehigh Valley, moving up more than points to a new 1928 high at 104 1-o, led the advance in the rails. Reading and New York Gen. tral each climbed 3 points and unloh Pacific, Delaware x Hudson and several others advanced two points or more.
 The closing was strong. Shares with a background of substantial earnings or favorable business pros poets were heavily purchased in the late afternoon, particularly Public Utility and Tobacco issues. Further sealing down of money rates to l-2 i per cent had stimulating effect on sentiment. Lehigh Valley moved up 10 points and Philadelphia com pany. Consolidated Gas, Brooklyn Union Gas and the American Tobac- cos and Liggett x Myers stocks } to s. Radio had a sudden drop of live points to below TO. Total sales ap- proximated 4.3O0,OO0 shares. Wall Street Opening 1 Stock prices started upward at a brisk pace at the opening of today's market. The unexpectedly small in- crease in federal reserve brokers loans brought flood of new buying into the market and stimulated short covering by traders who sold stocks on the theory of another huge increase in brokers borrowings. Adams Express jumped ten points on the first sale. Anaconda moved up IA and Standard Milling. Wabash and |. $. Steel common advanced a point or more. General Motors open ed with q block of 10000 shares at l97 up l 1-4 and Bethlehem Steel opened with a block of 15.Oo0 at 66 1-o up 1 3-S.
 Lowering Of the call money rate yesterday and the small increase in loans provided all the ammunition that the bulls needed to resume their buying operations Powerful | pools again swung into action and lifted more than score issues to new high records before the end of the first hour.
 | Public Utilities gave the best demonstration Of group strength but strong demand also developed for the steel, motor accessory, food, ! copper and electric issues.
 U. $. Cast Iron Pipe. which was , weak yesterday. jumped 9 1-a points. General Electric opened with block Of 10000 shares al l6S. up points, and Radio, Brooklyn Edison, Cerro 1 De pasco. Consolidated Gas. Amer ican Express. Electric Auto Lite and A. M. Byers advanced points.
 Foreign Exchanges opened firm with Sterling Cables quoted slightly higher around SASS 3-S.
 The ranks of the bears which had been filled up again by the concern over the money and brokers loans conditions broke in disorder again when the bulls flung the shock bat. talions of purchasing orders led b, New York Central and Genera ! Motors against them. New Yorl, i Central sold at lS2 and General Motors 19Si.. with numerous other shares also reaching their nighes, figures of the week. Tho rcncwa rate on Call money was reduced tC per cent.
 THE MARKET AT .:3O F. M. 1 Furnished by Putnam X Co.,
 High LOW Close Al Che X Dye 161I 15924 1Gl
 Am Ag Che pd
 American Con S6 SC SSG1. Am Loco .... 10Sfs
 Am Sumatra 55l. 55 551, Am Sm X Re l91l2 1S5 lS9 Am Sugar =. 72
 Am Tobacco 173ss 10 173% Am Woolen 2a2s
 Anaconda Cop 69b 6Sts 6asi