New Britain herald., 1929-01-23
ISSUES to UP IN
 STRONG BUYING
Dozens of Stocks Affected by
 Bullish Enthusiasm

ant issues into new high ground on the stock market today, as bullish was stimulated to fever pitch by announcement of another gold shipment from London.
 While bankers stated that federal reserve brokers loans will show a new record above S5.t0O, ,000, 900 when announced at the close of the market tomorrow. tradera were less to worry over brokers loans than in previous weeks, as the banks have been paying off their indebted ness at the reserve institutions. and . higher rediscount rate is regarded ls highly unlikely with gold again to flow from London.
 Tho gold shipment of s5,Oo0,oO0 comes upon tho heels of 2 shipment of $2,500,000, the first since autumn. yesterday. The fact that Norman, governor of the Bank of England, sailed for New York today. gave rise to reports that he would confer with federal reserve officials as to means to stem the flow of the yellow metal in this di- rection.
 An outgoing gold movement which would exceed in volume the open market offerings in London would be regarded with misgivings in Lon- dan. and federal reserve authorities are understood to oppose flow of gold to New York which would em- barass the Bank of England or start another orgy of stock speculation.
 Call money again renewed at 6 per cent. but the tone was firmer than yesterday, when it was avail able in the outside as low as per cent. Time money remained firm.
 The days news was largely bull ish, including the long predicted rise of 1-4 of a cent in copper prices to IT cents per pound. domestic. S. S. kresge Co. declared a stock divi- dend of per cent. Iron Age report ed that further advances in steel scrap prices and pressure for ship ments on finished steel stand out as market developments of the week, although it's composite furnished steel price remained unchanged. The composite price for Pig Iron saggea | cents to t1s.42 . ton.
 The stock market opened higher today. under the impetus of a heavy accumulation of overnight buying orders. Johns Manville sold up two points to a new high at e27, and Commercial Investment Trust open- ed nearly four points higher. Greene Cananea, Consolidated Gas and Mathieson Alkali mounted two points and Bethlehem. U. s. Steel and Union Carbide to 1-2 points.
 A number of blocks of 5000 to -12,800 shares changed hands during the first half hour. The bullish en- thusiasm aroused by announcement of a gold shipment from England for the first time since last fall yesterday. and the temporary easier call money, was still apparent carly in today's session.
 High grade stocks throughout tho Commission house customers rocks list developed impressive strength. were crowded. and the public was said to be in the market again in a large way.
 Chemical shares leapt forward, Union Carbide mounting 13 points to record price at 2... but falling back to 21411. Allied Chemical jumped 10 points to a new high at 2S1. Adams Express sold up 13 points.
 U. s. Steel mounted 2 points. fell back 1, then again started forward. General Motors (old) went forward more than 1 points. Greene Cananea led the Coppers with a spurt of over points. and American Smelling mounted more than 3. International Nickel surged ahead on announce ments that stock Of more than SS per cent of the voting power of Mond Nickel had been deposited un- der the merger plan.
 Utilities developed impressive strength. International Telephone, Electric Power and Light. Consoli- dated Gas. Columbia Gas & Electric, and Brooklyn Union Gas mounted from about 2 to 6 points. In the rails. Canadian Pacific mounted more than points. while DelaNa re and Hudson. New York Central and St. Louis Southwestern climbed | points and more.
 National Cash Register. Genera Electric, Westinghouse Electric Johns Manville. and Montgomer, Ward were among issues climbing from to S points. Great Notherr Ore was in demand on reports oi the discovery of . new ore body in Minnesota.
 There were few soft spots. Md. land Steel Products preferred drop ped over points to 25O, but recov. cred to 255. Wright Aero sold of about , points.
 Union Carbide was quickly rushed up 13 points to a new high at z22 The coppers were again under ac. emulation as some dealers were re- ported to have already made the long rumored 1-4 cent advance to [ cents . pound in the domestic price of the red metal. steels were also we'll supported. as a substantia jump in scrap prices was announced at Chicago.
 Johns Manyille extended its eair to points. and Archer Daniel. Midland and General Electric sold 3 and points higher. Anaconda Calumet. Arizona. and kennecott moved up from to moro than points: Abitihi Power, Stewar, Warner. Montgomery Ward. Colum. bia Graphophone. Warner Brother; and Western Union also sold from to more than points higher.
 There was more activity in the rails. st. Louis Southwestern mount. ing points while Frisco. Chicago Great Western preferred. and Ca.