New Britain herald., 1928-04-18
RAnl0 STOCK UP TEN POINTS TODAY
Provides Chief Feature Of Stock
 Market

down sharply In the morning ant
 then rallying briskly following
 lo-point Jump i'll Radio.
 Early selling was in further re lection of tightening margin re. quirements and fears Of an earl, increase in rediscount rates. Price. or many issues were carried dowr
 l to points but good support soor
 made it's appearance and the mar.
 ket headed upward again by earl,
 afternoon. Radio rallied from ls.
 1-4 to 17c.
 inc uays news was mixed in
 character. Freight car loadines in
 the first week or April showed T sharp drop below ,hoS of the cor
 responding weeks of 1927 and 1926
 steel trade reviews reported that output was being maintained at q
 high rate. with prices holding steady. Oil production fell of slightly. which was regarded ns bullish in view of the recent heavy production of that commodity.
 One Of the most interesting de velopments of the day was the re. neWal Of gold exports to Great Britain, shipment of s1,5oo, ,Oon being reported. the first since March c2. Call money appeared to be in plentiful supply at the re- newal figure of 5 per cent but prime commercial paper rates were slightly tlrmer.
 Afternoon buying operations cen. tered in Q rather wide assortment of amusement, food. tobacco and pubic utility shares. Paramoun, Famous Lasky was run up { points To l:6. National Tea scared II points to 222, and Manhattan Modi
 lied Guaranteed. U. S. Realty and Lorlllard advanced to 6Y l-c, S7l-2 ana A6 3-S. respectively, all new high records. General Electric ral- lied from I6i 5-s to 16s and Gen eral Motors from 1SS 7-s 10 1o1 1-c.
 Prices moved lower at the open ing Of the stock market today despite gains Of a. point or more by T.. & Steel, Bethlehem Steel and some ol the petroleum issues. Genera Motors and General Electric opened down lN and points respectivel, and heaviness was apparent at tn. outset in Peterborough Rapid Tran Sit. Anaconda Copper. Montgomery Ward. Consolidated Gas, Sears Roe buck. Endicott Johnson. General Railway Signal and Vanadium Steel. losses running from l to 2 points.
 Selling gained force as the first hour advanced. General Motors ex tending its loss to points and l.. s, Steel changing its initial gain into a recession Of 1 point. Unc.r. tainty over the trend of the money market undoubtedly was an impor- tant factor In pressing prices lower, while a further drop in revenue freight loadings in the first week of April helped to create an atmos- phere of hesitancy. Corn Products Refining. Radio and Gold Dust quickly fell back points or so, and declines of to 1-2 were soon recorded by long list of stocks, including Wright Aeronautical, Con- yoleum- -Nairn. American Steel Foundries. Coca Cola. Cerro De Pasco Copper. Hudson Motors and Mack Truck. Although crude oil showed a slight decline. he oil issues failed to continue heir recent rise in any general way turing the first half hour. Some in- iustrials and specialties. however, which have been under accumuIa- ion recently. moved to new peak prices. including Southern Diaries, Armour and Standard & Electric The drop in General Electric was 'oon extended. to 3 S-A. at 164 S-4 'r nearly ten points below the peak f 174 1-2. reached on Monday. sterling Cables opened unchanged round SASS 3-s, and there was title variation in other foreign ex- hange rates.
 The untavorable inferences drawn rom tho demand for larger margin by some commission louses. precipitatcd a raft of selling rders which drove down many in- 'ustrials and speclalties from , to
 points. General Electric. Dupont. ireene Cananea Copper. Atlantic Refining and Brooklyn Edison were mong those hardest hit. Retention f the D per cent renewal rate for all loans and the widespread in crest attacked to the federal reserve cards policy toward the open mar ct and rediscount rates made the ledding difficult for the bull fac ion. Radio. however performed one f it's frequent somersa ults, rallying rom 16c 1-4 to 169l.. |
 Hupp Motor Car earned s1.G1 a hare on the common in the first uarter. against 4s cents a share in | he first quarter of 1927. Shipments ! ere 1G.7so cars against 11,Soi q ear ago.
 THE MARKET AT 2:3O F. NJ.