New Britain herald., 1928-08-14
WALL STREET IS AGAIN UNCERTAIN
Sells Of and Then Rallies This
 Afternoon
By STANLEY W. PRENOSIL

Associated Press Financial l.uitor)
 New York, Aug. 14 R|The stock market displayed another complete reversal of form today. selling off sharply during the morning and then rallying briskly in the after noon. The recovery was stimulated by the lowering Of the call money rate from 1-2 to [ per cent. Early losses of l to points in the acti, 6 issues were largely recovered and replaced, ill many instances, by gains of to 5 points. Trading which had been dull on the decline, picked up on the rally.
 The money continued firm with 1-2 per cent bid for all dates. Some New York douiers also ad- ,anced the bid rate Is of per cent on l12O day b,ls. Banks call ed S1o, ,o0o.O0o in loans during the morning but these were easily re- placed.
 Chrysler was again the leader Of the market, moving up to another new high record at 97 on big turnover. Broadway Motor crossed el to a new peak and Electric Auto Lite and Motor Wheel also movAd into new high grounds. General Motors, which broke points in tn. morning reaction. recovered a sub stantial part of it's loss.
 Amusement shares also attracted "a large following. Warner Bros, Pictures 4, which broke 41-4 points in the carly trading. recovered all it's loss and moved 10 a new peak price at S5 l-2. Pathe X climbed :. points above yesterdays final quo tations after an early interval of heavlness. Loft Candy was again under brisk accumulation on rumors that merger negotiations were pend ing with a large grocery chain, the stock touching a new peak price for the year.
 Railroad shares were not affected by reports that strike vote was be- ing taken on western roads. Jersey Central. ordinarily inactive, scared l2 points.
 Wall Street Opening Further irregularity deyploped at the opening of 1oday's stock market, Chryaler opened 5-S points higher and General Electric and Johns Manville showed gains of point each General Motors fell back 1 1 I | points on the first sale ,n lSl. a new low on the current reaction. and American Smelling and Pathe X yielded nearly point each. 1 Renewed selling of General Mo. tors, presumably inspired by pcrsis- tent rumors of disscnsion in the i corporations official family. carried that stock down 1 points to 1IS IA the lowest price in abou, weeks and unsettled the general market b. fore the end of the first hour. Mont gomcry Ward also fell back points, Warner Bros. Pictures : g 12 and Radio. Dupont, toty. Mid land Steel products preferred an, Pest X Co.,. sold doWn 2 points o more.
 T.. :. Steel common. Union Carbid tG iiJ IIbuStoH Oll were H1IlOng Ii many issues to decline a point O more. At the outset. special buyill; operations had developed in Loos Wiles Postum. Continental Can an' a few other specialties but thes' were quickly abandoned.
 Cotton and grain carrying rail roads continued To receive fairl, good buying support. St. Loui Southwestern showing al early gail of . points.
 Foreign exchanges opened steady with Sterling Cables unchanged q
 s4.S3 3-S.
 That the short interest in som
 stocks was in q highly nervou
 state was shown by the celerity wit,
 which they covered when suppor
 appeared, despite the more genera
 significance attached to the futur
 trend of money rates and the un
 ceasins pressure against some of tn
 favoritos which have a wide specu
 lative following. Warner Bros. Pie lures A came up from so 1-2 to &,
 a new high record. It's recos CT
 threw a scare into the traders wh
 had been selling other shares. an , prices came back 1 to points q : they began to bid for stocks The re , newal rate for call loans was un
 changed at { 12 per cent.