New Britain herald., 1928-01-06
MARKET DISPLAYS
 STRENGTH TODAY
Rsc9Vey Rolevs SuslpIhe Rt action Of Y6taday


 prassive demonstration of strength toek place 1, tedays stock market following the weeping reaction Of yesterday. All claasss of stocks pointed higher with violent ad- vancss Of [ to nearly l3 points talk ing plaos tn . lev volatile epseial- ties. The rally was accompanied by | marked reduction in the volume of trading.
 Fears of higher money rates. which developed as result et the unusually large increase In brokers' loans, apparently had been alleysd by the lowering of the call money renewal rate to { per cent opera- tors for the advance marked up their favorites on the theory thae g suhstantial portion of the January dividend and interest disbursements would find their way back into the securities markets.
 Weekly mercantile reviews shoW. cd . fairly chesrful tone and new building construction was reported as unusually largs for the first week of the year. Recent stinsning of crude oil prices aud msvger ru- mors also have had . tendency to draw speculative attention to those issues. Activity Of Texas corporation and California Petroleum WAS d. rectly attributed to reports that negotiations were pending for the consolidation of those companies.
 ChNsti6 Brown, Coty. Midland Steel Products preferred and Amer ican shipbuilding scored spectacular advances at : 3-t to II l-t points. International Nickel. General As- phalt common and preferred. American International. Montgom- ery-Ward and International Match preferred sold | to { points higher. New high prices since ls3s or longer were registered by Transue & Williams. Sweets Company of America, Jones Bros, Tea and Coca Cola. '. 8. Steel common. which had dropped tn 148 yesterday. sold today around 15l 1-:.
 New York, Jan. { R-Extremely mixed price movements character ized the opening of today'a stock market. Oils were in brisk demand. General Asphalt showing . gain of 3-4. Texas Co. improved fraction ally on reports of negotiations for a merger with California Petrol- cum. Allied Chemical and Greene Cananea Copper lost about . point each on the first sales.
 Spectators for the advance quick ly regained control of the price movement despite the increase of Ssc.0o0.00o in federal reserve brok. ers' loans announced after tho 'osc of the market yesterday. Bullish operations centsred at first in the issues which stood out in yesterdays late rally. notably International Match preferred. Allis Chalmers and International Cement all up , to { points and the fiRst two at new peak prices. Standard. industrials moved forward under tho leadership of U. 8, Steel common. General Motors and General Electric, all of which show ed early gains of | points or 70. Buying of timid shorts was swelled by the investment demand created by the disbursement of several hun- dred million dollars in dividend and interest payments. Rails were slow in getting started although St. Louis Southwestern preferred moved up more than , points before tho end of the first halt hour. Except for q break of ! points in Spanish peso tas to 17.7s cents, there were no over night changes of importance in the foreign exchange market. Sterling cables held steady around et.s7 16- IS.
 THE MARKET AT 1:40 F. M.
 Furnished by Putnam ( Col
 Hixh low CiORe