New Britain herald., 1928-04-11
R. H. MACY o.
 SCARS 2S POINTS
Leads All Performers on New
 York Market Today

New York, April II P1Speculat- ors for the advance regained control of the price movement Tn today's stock market after an early period of trregularity. Early losses of to { points in many issues were quick ly cut down or wiped out and scores of others advanced to II points Lowering of the call money rate from six to , F per cent stimulated the buying movement
 The weekly steel trade reviews re- ported that following record output in the first quarter steel mills were maintaining operations at high rate. The Iron Age composite price for finished steel showed slight gain while pig iron remains unchang- ed. Prices of denaturcd alcohol also were increased today.
 k. H. Macy was the spectacular in dividual performer soaring 2S points to new record high at $50. '. S Cast Iron Pipe jumped II points Wright Aeronautical 9a. Borden { and Lamber, Federal Mining and Smelling. National Biscuit. Union Carbide. Sears Roebuck. Montgom- cry Ward. Johns Manville. Brooklyn Manhattan Transit and American Tobacco A and E sold four to six points higher.
 Trading was again in large vol ume. One block of 10000 shares of Public Service of New Jersey chang ed hands at 50. following which the stock advanced to a new high at 51 7-s. 4 block of 10000 of Schulte Retail Stores, also changed hands at 65. with a subsequent ad- vance above that level. The list of new highs included Brooklyn Edi- son. Briggs Mig. Electric Auto Lite American Ice. Murray Body, Pills bury Flour and Warren Brothers. Rails moved mp with the indus trials but the gains were not as large. St Paul preferred was bid up more than points. and Texas and Pacific, Chesapeake and Ohio and Lehigh Valley moved up points or more.
 Confused price movements char -acterized the opening of today's stock market. American Linseed broke points on the first sale and losses of a point or more were re- corded by American Republicans, Anaconda Copper. Montgomery Ward and Du Pont. Chrysler and
 
 point higher and Perc Marquette ad- vanced fractionally to a high record. 1 Six per cent call money yesterday brought a flood of overnight selling orders into the market, but offerings Were fairly well absorbed and pool operations resumed in number of specialties. The falling off in freight car loadinga in the last week of March also may have induced some liquidation. American Linseed made up Its { points loss before the end of the first half hour. |. s. Cast Iron Pipe advanced points. Ameri- can Tobacco E 1-2 and about a dozen others moved up q point or two. Briggs Manufacturing reaching new high ground. Radio extended it's loss to 3 points and Dupont. Gen eral Asphalt and Nash Motors sold down points or more.
 While it was generally agreed that a return Of easy money rates was unlikely, there was a belief in some banking quarters that a flow of in terior funds here was likely to send the call rate down to l-2 or per cent. The fact that expanding com mercial demands for funds was a factor fin the recent increase in money rates was regarded as fav- orable omen by some traders.
 Foreign Exchange rates opened steady. with Sterling Cables un- changed at $4.ss l-4.
 The indoor sport' of squeezing the short interest created by the raising of the renewal rate for call loans from 5 l.2 to ( per cent was participated in enthusiastically by the powerful pools which are look ing after the market destinies of particular shares. Some of the ad. vances bordered on the sensational Wright Aero climbed from 1l9 to 126 1-4. Radio from 173 1-4 to 1S0 3-4 and General Motors from 1S9 3-s to 194 3-4. Electric Auto Light was lifted if points to l62, Philadel. rhia Co. to 155, Brooklyn Edison to 25s. Perc Marquette 6 to 146, and Warren Bros. 3-4 to 19a 1-2. THE MARKEyr ar o.9O P NJ