New Britain herald., 1928-02-10
PRICE MOVEMENTS
 ARE INDEC|SIVE
Gssdd ffead of I,ltd Ap-
 pelfs to be DoVnVlFd


 movements in today's stock market were rather indecisive. but the gen. eral trend appeared to be down. ward. Speculative uneasiness over the establishment of . new high rec ord in the volume of brokers' loans appeared to bs the chief selling in- fluence. although weekend profit taking also was . factor. Trading showed . marked falling of in volume.
 The increase of Sos.o7s tons in the January thrilled orders of the United States Steel Corporation. bringing the total to el.275.S41 tons. the largest since March, 1s2s, was about In Hne with Wall streets expectations. Steel common failed to make much response to the an- nouncement although it was we'll supported around the lls level.
 Rubbers and oil were under heavy selling pressure as . result of unfavorable trade news. Houston, General Asphalt. common and pre- ferred. U. g. Rubber first preferred and Goodrich all sold down to nearly points. Dupont and Ameri- can Railway Express broke s points each. Coal and coal-carrying rail- road shares also showed . tendency to weakness. presumably in refiec- ton of the unseasonably warm winter.
 Bullish operations continued. how ever. in . few stocks. American Smelting was run up more than 5 points to lSo 1-4 and Wick Chemical climbed nearly { points to . new top at 60.
 New York. Feb. 10 N-Stuck prices moved irregularly lower at the opening of today's market Lon e of point or more were recorded by Greene Cananea Copper. Atlantic Refining and U. A Steel common. General Motors, American amelting and other leaders of yesterday de- clined fractioually. General Electric opened 1-< points higher.
 Selling pressure undoubtedly de- veloped as . result of the unexpect- ed increase of nearly t20.O00.0OO in brokers loans. bringing the. total to a new high record. This gain was largely to the tremendous volume of new financing in the last fortnight. bond issues alone run ming close to $(oo.000,0oo in that period. Some disappointment also may have been occasioned by the of only tho regular divi- dend on General Motors common al- though such action was in line with general expectations in banking QuarterA
 Early selling was directed chiefly against the steels, oils and coppers and some of the specialties which have been prominent in the recent up-swing. American Zinc preferred quickly sold of : points and among the many issues to yield a point or moro were Crucibls and vanadium steels. Montgomsry-Wa Consoli- dated Gas. International Paper and Frank c. shattuck. A few issues moved against the current trend, New York Air Brake which was bid up to new peak and To- bacco Products, which responded to tho announcement that the company was to be dissolved. Foreign ex- changes opened steady. sterling cables ruling around $%.s7 and the French francs around 3.s2X points.
 Early recessions In the coppers seemingly attracted new buying which pushed Kennecott across s7 to . new record and benefited American smelting and American Zinc preferred to tho extent of 2 points or more. Absorption also ap- peared for some of the food, farm implement. tobacco. electrical and drug issues. Despite the showing which many of these shares made and & reduction in tho renewal rate for call loans to { 1-l per cent, the market was studded with distinctly weak spots among the rubber, oil, railroad equipment and railroad groupn.