New Britain herald., 1928-04-04
WALL STREET GOES
 TO HIGHER GROUND
Adverse Indications Ignored by
 Traders Teday

New York, April 1 RrDisregard- ing large quota of unfavora ble trade news, the stock market moved upward in impressive fashion today after a temporary sinking spell al the opening. Bullish operations were conducted with marked success in a number of public utilities, rails, mo- tor accessories, oils and specialties. the gains in many instances run ming from to l5 points.
 Banks called about $20, 000, 900 in loans to meet the heavy weekend demand for funds, but the market paid little attention to this develop ment. Rubber shares were only slightly affected by the break of cent in crude rubber following the announcement of the removal of British export restrictions next No- vember.
 Violent fluctuations again took place in the high priced specialties. Wright Aeronautical rallied from 127 to III and backed Up to ls2. Radio fell from l92 1-c 10 1SS 1-2 and then rebounded to 1S1. Brook lyn Edison scared nearly 10 points and American Republics. Montana Power. Atlas Powder. Cluett Pea body and Ludlum Steel advanced 6 to 8 points. most of them to new peak prices. L. 8. Steel and General Motors were quiet but firm.
 Persistent buying of the Eastern Railroad shares accompanied reports that the eastern consolidation pro- gram had ben definitely agreed up- on by the leading executives who have been meeting here at intervals for the last few months. Chesapeake X Ohio ran Up nearly points, Nickel Plate advanced to a new top at 112, and Reading and Western Maryland. second preferred. attained new peak prices at 1l2 l-4 and 50 4 respectively. Pittsburgh & West Nir- ginia scared 15 points to q new top at 15O.
 Wall Street Opening
 The unexpectedly large increase in stock exchange member loans in spired sufficient selling to give stock prices a reactionary tone at the opening of today's market. Initial declines of to 2 points were re- corded by American Smelling, Amcri. can Linseed, Chrysler. Kcnnecott. General Motors. General Electric. Packard. International Nickel. New York Central and Radio. Wright Aeronautical, which scored a sensa- tional gain of S2 points yesterday. opened four points lower at 12S and then slipped to 127.
 Early losses of to points were quickly recovered and the market swung upward in response to a brisk demand for the rails. oils, pub lie utilities and a selected assort- ment of pool specialtes. Wright Aeronautical rallied from a low to l27 to a new high record at l3S. or double the years low. National Tea scared 1lA points to q new peak of 2lo. Century Ribbon was up more than points to a new top. Pitts burgh & West Virginia assumed the leadership of the railroad group by rapidly climbing { 1-2 points while Chesapeake & Ohio, "Nickel Plate" Atchison and St. Louis Southwestern preferred moved up a point or more.
 The advance took place in the face of number of unfavora ble trade developments including a fall- ing off in freight car loadings, a re- newal of heavy gold exports to France. an increase in crude oil production and the announcement of the removal Of British export re- strlctlQns on rubber next November. Foreign exchanges opened firm with Sterling Cables quoted around $4.SS 1-4.