New Britain herald., 1928-11-01
PRICES RISE IN MARKET TRADING
Frequent Shifts Reflect Spscu.
 ladYe Sentiment During Day

ASCW AOIA, NUVs "@ETcQUcut shifts of speculative sentiment re- fiecting nervousness on the part of large and small trader. characteriz- ed today's stock market. but major operations were again on the side Of rising prices. As In most recent sessions, . wave of selling swept through the market before mid-day. touching on a number of stop loss'' orders and bringing about a few sharp declines, but supporting or ders were quickly supplied and new leaders brought forward by pool op- erators.
 Railroad shares assumed increas- ing prominence when . brisk de- mand developed for several of the high grade issues. Union Pacific crossed 20s. the best price since 1919. on buying influenced by the belief that 2 segregation of the roads investment holdings will fol- low the retirement of the t45,0O0,- 900 Oregon short line bond issue next year, Pittsburgh | West Vir- gtnia. St. Louis Southwestern. New York Central. Chesapeake < Ohio. Rock Island and Canadian Pacific all sold ! to 4h points higher.
 Bustness news continues favor- able. several of the leading commits sion houses stressed tho importance of the S100.o00,000 electrincation program of the Pennsylvania rau- road which. together with the Miss issippi river Hood projects, is expect ed to provide big stimulus to bus iness next year. Declaration of . 800 stock dividend on Zenith Radio was accompanied by . stock dividend of per cent on Sun OH and m extra of 32 on New Jersey Zinc.
 Banks called $30,000,000 in loans during the morning but nearly an equal amount of new money appear ed in the market from large corpor- ations and out of town banks, the call rate holding steady at 7h per cent. An easier undertone was ap- parent in the time money market. Some nervousness was apparent dur ing the early afternoon over the prospect of another large increase in Federal Reserve brokers loans which are made public after the close.
 Motor shares were hard hit in the morning selling movement. Chrysler falling from 127 to 121 13-t. but il quickly snapped back to 125. War ner Brothers issues and Radio also made good recoveries and Montgom- cry Ward converted loss of $ points into . gain of 6h.
 American Express scared c6 points to . new high at 27s and Interna- tional Nickel crossed 795 to a new peak. Barnet Leather ran up 13 points. Kelvinator was heavily bought on reports of . large in. crease in October sales and the elimination of all bank loans.
 Strong buying support came into the stock market overnight. with the result that opening prices today displayed . strong undertone, Amer ican Radiator opened $ points high CT at 175. new high record. Vest inghouse Electric opened with a block of 5,OO00 shares at 115 S-S, up 5-s. on buying influenced by expectations that the company would benefit through the gigantic electri- fication program of the Pennsyl- vania railroad. Initial gains of a point or more were recorded by Ra- dio, Union Carbide and General Motors.
 Despite the increased margin re- quirements put into effect today by several of the leading commission houses. the public demand for stocks was again on . large scale. With about ts60. .000. 900 in dividend and interest payments to be dis tributed this month. and the pros- poets of easier money rates, pools resumed their activities on q broad scale.