New Britain herald., 1928-04-02
PRICES DOING ALL
 SORTS OF ANTICS
Call Money Sdfens Selling
 Pressure Strong

New York, April :? R.-Frequent reversals of price movements took place in today's stock market as con trol shifted from Bear to Bull tra- ders. Opening prices were reaction ary. but the market soon headed up- ward as pools resumed activities on a broad scale and lifted more than two score issues to peak prices for the year. Marking up of the call money rate from to l.: per cent following the calling of about s15.- 100000 in loans. unsettled the mar ket in the early afternoon.
 Radio was again the spectacular feature. Opening $ points lower at ITS. the stock made up it's loss be- fore the end of the first hour and then ploughed forward to another new peak at 1s6 l.: in the early afternoon. A story of selling orders suddenly appeared and the stock dipped below l90 again within a few minutes.
 Wright Aeronautical jumped nearly 9 points to peak at lol 1-2 but reacted several points in the early afternoon selling. Among the many issues to reach new high ground for the year. or longer, were Loews. Park & Tilford. American Zinc preferred. Curtiss Aeropiane. St. Paul common and Preferred. Great Northern preferred, Best & Co.,. American Ice and American Safety Razor.
 Selling pressure was rather persist ent against such issues as American International. Allied Chemical, Montgomery-Ward. Sears Roebuck. General Electric and National Bis cult. all off points or more. Gen eral Motors, after selling down to 1s4 in the early trading. rallied to lS7 B. and then backed to 1S5 l-4.
 Stiffening of call money was at tributed to the heavy demand for funda in connection with quarterlS settlements.
 Supporting orders were quickly rushed into the market and Radio rallied 6l. points from the low. General Motors extended it's de- cline to 3 points before supporting orders were effective. Spectators for the advance endeavored to re- gain control of the market by bid ding up a selected list of pool spe- cialties, new peak prices being es- tablished in the first few minutes of trading by Atlantic Refining. Loves. and Schultc Retail Stores. Bruns- wick Bake was quickly bid up 3 points above Saturdays final quo- tation and Westinghouse Electric. American Steel Foundries, General Asphalt, Houston Oil. Allied Chemi- cal and Archer Daniels Midland moved up 2 points or more.
 There was little news over the weekend to influence the price movement although some liquidation came into the market as q result Of repeated commission house warn- ings against excessive speculation. Weekly business reviews reported further irregularity in the general situation although with some im- provcment shown in a few of the basic industries.
 Wall Street Opening
 Pronounced reactionary tcnden- cies developed at the opening of today's stock market. Radio opened with a block of 10000 shares at IFS, a drop of 8 points below Satur- days closing quotation and declines of 1 to points were recorded by General Electric, L. S. Steel com mon, Union Pacific. Union Car bide and Montgomery Ward.
 General Motors Quickly slipped back 1 3-4 points.
 Panhandle Producing & Refining reports net loss of $19.o90 for 1927 against net profit of $325,154 in 1926. or S11.5s a share on the per cent preferred on which no dividends have been paid since July, 1923. Profit for 1926 included $457,ss3 on property sold and retired.
 With bulls all over the country lined up on the mark ready to go through with their daily exercise of pushing up prices. constructive in- terests obtained a ready following as soon as they commenced to squeeze the harassed short interest again. Radio, which opened at IFS. was selling at l93 at midday. leav- ing General Motors struggling far behind at lS7 in the race for su- premacy of the market. Wright Aero moved up l-2 and other spe- cialties were also buoyant despite the advance in the renewal rate for call loans for "A to 5 per cent.