New Britain herald., 1928-04-05
STOCKS PLOUGH UP
 ID NEW RECORDS
lnterboro and Purity Baking
 Lead the Advance

New York, April tP-The stock market ploughed forward again to- day, breaking new high records with startling rapialty, as buying orders poured in for a wide assortment of stocks. Early gains ill the active issues ranged from g. 10 S7 a share.
 mterboro Rapid Transit and Purity Baking E led the carly ad- vance hy advancing 5, a share each to new high records at s49.15 and S149.50, respectively. General Mo tors. Wabash, Pittsburgh & West Virginia, Hudson Manhattan, Con. tinental Can. Wright eronautieal and schulte Retail Stores climbed s4 to s6, most of them to new peak prices.
 Buying of the rails was stimulated by the relief that eastern railroad executives, meeting here today, would definitely agree upon the ma jor points of their consolidation pro- gram. leaving only the details to be worked out.
 Such recent unfayorahle news as the huge gain in brokers loans, fur ther gold exports. smaller freight traffic, increased crude oil produc- tion and indications Of a small fed eral tax cut than had been antici- pat"d were completely ignored.
 Railroad shares assumed the lead ership Of a broad upward movement Of prices at the opening of todays market. Wabash opened ? points higher at S2, new peak; Pittsburgh and West Virginia showed an initial gain of 1$i and New York Central and Baltimore and Ohio each open- ed point higher. Purity Baking E jumped points to a new peak at l49 1@, Wright Aero opened 3 points higher at l35 and Schulte Retail stores opened with a block of ten thousand at 57 1-2 up ? 1-2 and a new high mark.
 strength and activity of the rail- road shares was based on expecta- tions of favorable developments at today's meeting of the eastern rail- i'''i '-A'N hiN'N' -hlSSOull Idtlltc common and preferred, and Western Maryland common joined the up- ward procession by climbing 1 to ? points. Wright Acronautical quick ly extended it's gain to T. points, Park & Tilford moved up 3 to a new top at 61 and Coca Cola advanced , 1-4 to 155, also a new top.
 Buying operations were distribut- ed over d broad list with more than two score issues quickly climbing l to 3 points. Early leaders included General Motors, Radio, Montana Power, Electric Storage Battery, General Asphalt, Continental Can, Lehn X Fink, Davison Chemical, Fairbanks Morse and J. $. Industrial Alcohol.
 Profit taking quickly made itself apparent in a few issues. Lambert. which had sharp run-up yesterday, tell back nearly ? points Ruhbers turned reactlonary in reflection of a further decrease of cent pound in crude rubber. Goodrich yielding points and Goodyear l.
 Foreign exchanges opened steady with Sterling Cables quoted around $4SS 9-32.
 Bull operators did not encounter any effectual opposition during the forenoon in their campaign for high- cr prices. Retention Of the five per cent renewal rate for call loans which carry over until Monday and the demand for General Motors which carried il to l92. a rise of $ points, caused a renewed outbreak of speculative enthusiasm which en- composed all classes of stock. More than 3n new peaks were sealed dur ing tn" furious buying which sent lnteri1orough Rapid Transit. Dupont and Purity Baking l, up | to S points, and q great number of others from , to points.