The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-11-26
BY ELMER C. WALLER
vys41 - -SsA

NEW YORK, Nov. 26.-Wall Street
resumed its stride today after a
long weekend rest with a full Sat-
urday thrown in for good measure.
Market opinion, as the new week got
under way. was about evenly di-
vided between beariSh and bullish
comment.
But the beariShly inclined were
not at all ready to say that a break
would wreck the market and the
wide public participation. On the
contrary, they were cautious to point
out that bull MARKET such as
they had been having will meet
selling waves which will correct the
markets technical position and pave
the way for further advances.
Brokers Catch Up
Over the weekend brokers were
catching up on their delayed book
keeping, and this morning were
ready for further business at the
rate of six or seven million shares
per day.
The mails brought in orders to
buy and sell stocks and as soon as
the broad network of wires began
to hum their daily grind, other Or
ders were swarming in. The specu-
lative wave has not subsidized; nor
is there immediate evidence that it
will let up while the public has the.
bit in its teeth running away with
the stock market from the profess
Sional drivers.
"One of the best indications of
the underlying strength of the
stock market" one observer points
out, twas to be found in Fridays
transactions when prices moved
briskly forward in the fact of rec
ord increase of more than $176,000,-
900 in brokerage loans We do not
mean by this that there are not a
number of stocks which have al
ready reached leevls unwarranted
by any stretch of the imagination,
and we feel that these will en-
counter selling waves which will
bring them down to more normal
levels. In other words, the bigger
and broader the market gets, the
greater should be the discrimination
in the stocks selected for a further
advance"
' Opening Is Higher
On the opening Radio, Wright
Aero, Victor Talking Machine, Cur
tiss Aero an dUnion Carbide were
carried up sharply. Copper i:;ocks
as a group moved forward and rails
were bid up one. to two points. The
entire list showed unusual strength
after the long holiday since last
Friday, due mainly to the continued
influx of increasing earnings by
many companies and general adj
vances in trade.
The opening sale of Consolidated
Gas involved 1880 shares at 987g
up 81 and new high; Associated
Dry Goods $4,000 at 64% up Az and
a new high, Andes Copper 10000
shares at Sc up Az and a new high,
Pathe Exchange 10000 at 1879 up
1%. 4=e
The entire copper group moved
ahead. Andes featured, holding its
rise of more than four points. Ana
conda rose 21s points to 113A,
Cerro De Pasco up Il to 116, a new
high, Nevada p to 38, a new high,
Kennecott rs to 1865 and Inspira-
ton as to ATS.
international Nickel scared IL
points to a new high at 215. Other
wide gains included Curtiss Aero,
up Az at 1919 Victor Talking Ma
chine up ga at 1854, Radio up at
375, and Wright up IS at 270. Sew
eral of these were reduced by profit
taking in the later trading.
Rails Strong rs
Rails showed consistent strength.
Kansas City Southern rose 2as to a
new high at 861a, while gains of
two points or more were made by
Canadian Pacific and Atchison.
Erie, Missouri KanSas-Te and
Western Maryland were in demand.
Oils moved ahead under the lead
erShip of Standard Oil of California,
which rose to a new high at 1919,
up Is. Marland gained point and
Sinclair rose fractionally.
New highs were made by Beth
1ehem Steel and First National
Stores. United States Steel spurted
more than two points. General Mo-
tors gained fractionally.