New Britain herald., 1928-09-19
PUNCTUATION IS EXTREMELY HEAVY
Market Has Buying and Sailing
 Waves

New York, Sept. ls Rewayss of buying and selling alternately swept through the stock market today. with price fluctuations running as high as and ( points.
 The nervous activity of the mark ct appaprently reflected renewed ap- prehension over the money situa- ton heightened by the rise in call rates from the renewal of per cent first to 1-2 and then to s per cent. Banks had called upwards of 33O 100000 in loans by noon and in early afternoon prices generally be- gan working toward lower levels.
 Some consideration appeared to have been given commission house advices respecting Tightening of speculative commitments, but the selling did not deter extensive pool operations. These were mosts eff fective in a wide assortment of stocks selling between $20 and $50 per share. and many of these, pre- viously neglected, rose to 6 points to new high prices for the year. Among them were Kelsey Hayes Wheel, which moved up 1-4 points to a B.. and Walworth company. up { points to B 3-4, also . new peak.
 Gains of , to , points were rec orded by St. Joseph Lead. American Zinc, U. s. Smelling. American Metal, Philadelphia Reading Coal < Iron. American Woolen and Trico Products. Temporary outbursts of buying carried Freeport Texas up points. General American Tank Car responded to announcement that stockholders will be given the op- portunity tomorrow to subscribe 10 additional stock on favorable terms by soaring more than points to 90 1-2. . new 1928 peak. Official announcement of an important de- velopment in the company's affairs is to accompany the offering.
 Flashes of strength also were shown by Radio, Montgomery Ward. I. s. Cast Iron Pipe. Curtiss Aero and A. M. Byers during the fore noon.
 Among the issues hit rather. hard by the selling waves was Case Threshing Machine. which lost . points. Cerro De Pasco, U. s. Steel. General Motors and American Smelling were among pivotal in- dustrials that yielded a point or more of their recent advanceA
 The stock market opened irregular today. Losses were chiefly fraction al, however. and a number of stocks showed substantial gains. Curtiss Aero opened points up. Liquid Car bonic two points and Johns Man. vile and Allied Chemical about lh points each.
 The irregularity of the opening evidently reflected nervousness over the credit situation. Mondays l easing of loan rates generally was regarded as the last period of easi- ness that could be expected before the fall commercial demand for funds reaches its peak and the mar ket apparently feels keenly any in- fuences for tighter money.
 Price trends were confused during the first, half hour of trading but the greater number of issues dis played strong upward tendencies especially the motors and access sories, metals and some of the southern west rails. Buying of low priced stocks again was feature. particularly in the oil group where large blocks changed hands, such as 7,S00 shares of Sinclair at 29h.
 Prominent among issues to ad- vance were Curtiss Aero. which moved up five points to cross 160; Freeport Texas up 1: Gillette Safety Razor up 3: American Safety Razor up 2 points to IS, new years high, and Loose Wiles and Warner Brothers common up around ? points each.
 Inspiration Copper at es and A. M. Byrne at 11s a. also established new highs for the year.
 Gains of to If points were shown by Missouri Pacific. Kansas City Southern. Nash Motors. Gra- ham Paige. Timken Roller Bear ing, American Zine pfd.. St. Joseph Lead. American Can. Cerro De Pasco and Greene Cananea.
 Among the stocks inclined to heaviness were Burroughs Adding Machine. National Bellas Hess, Yei- low Truck and Coach, American Smelling, International Telephone and Telegraph and Chicago Great Western pfd., all down 1 to 2 points. THE MARKET AT 2:3O P. NJ. (Eurnished hy Putnam <. Cnl