New Britain herald., 1928-02-08
SHARP REACTIONS FEATURE MARKET
Afternoon Recovery HoVeVG,
 WipS Out Losses

A1ARS~ O~S SSSWVU
 New York. Feb. s R-sharp re- actions took place in many stocks during the early part of today's stock market. but Q recovery set in during the afternoon aa pools resumed op- erations in some of the recent favorites. Passing of the American Sugar Refining dividend was follow ed by 2 break of II l-4 points in that stock, but it failed to halt the recovery which was under way when the announcement was made. Trad ing, which had been conducted at a brisk pace during the morning, turned dull on the rally.
 The weekly steel trade reviews re- ported further improvement in the trade position. and Wall street looks for an increase Of more than 300,o tons in the January unified orders of the United States Steel corpora tion which will be made public on Friday. General Motors dividend action tomorrow also is awaited with considerable interest, although the final quarters earnings will not be available until the middle of the month.
 Montgomery-Ward continued its advance by soaring nearly points to another new high record at l47 1-4. Consolidated Gas jumped more than { points to a new top at 1S4 3-s. U. g. Industrial Alcohol crossed l12 to the hihgest price in seven year& Coppers moved forward under the leadership of Kennecott.
 New York. Feb s R-Combined' net income of Underwood Elliott Fisher company and Elliott Fisher company and subsidiaries for 1927 was $s,s73.672. equal to s5.54 share on the common. after pre- ferred dividends. Quick assets were $24,2s0.917 and liabilities $6.S1o,- SIP. Cash aggregated S4.s07,2SS Underwood Typewriter earned $5.42 a share on the common last year. against t4.ss in 1926. The enlarged company sells direct in 46 foreign countries
 New York, Feb. 8 R-Irregular price movements attended the open ing of the Stock Market today. Electric Auto Light and Consolidat- cd Gas opened at new highs and Sears Roebuck, International liar vester and A. NJ. Byers were a poin. or so higher. Big blocks of Stude- baker were bought raising it a point to Ct 7-S the highest in three years. Losses of point or SO were registered at the outset by Missouri Pacific preferred, International Tele- phone, Greene Cananea Copper, Vanadium Stel and Crucible Steel. A flood of selling orders reached the market soon after the opening. causing many stoSks to break badly. as 109 1-4 last month, soon fell back more than z points to S2 1-2, and others of yesterdays weak spots continued to decline. Indications of tightening money rates and recent calling of loans by banks was large ly influential in the selling. The in- crease in the Boston and Dallas re- discount rates yesterday was another straw in this direction. U. s. Steel dropped nearly points in the first half hour despite expectations of larger thrilled orders on January 31, to be reported Friday. Vanadium Steel and Green Cananea Copper quickly lost points and Montana Power 1, while recessions of 2 to 3 were scored against Radio, Houston Oil. International Nickel. Westing- house Electric, Wright Aeronautical. Montgomery Ward. and a few oth- CTS. Canadian Pacific. Atchison. U. s. Industrial and Union Carbide moved against the general trend in the early trading. Foreign exchanges were steady at the opening. Sterling Cables ruling around t4.S7 1-% and French francs just above 3.92 l-2 cents.