The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1929-02-19
BY ELMER C. Waller
limited Press Staff Correspondent

NEW YORK, Feb. 19-Call money
declined to per cent today after
renewing at per cent, and this
further indication of easy credit
brought continuation of the price
rise in progress at the close on the
Stock Exchange Monday.
The opening was strong, with the
majority of stocks up one to two
or more points. On the advance,
bears drove hard to force lower
prices and their efforts were re-
warded with some irregularity at
the end of the first hour. The buy
ing YVES persistent, however, and the
rise was resumed when the call rate
dropped.
Industrial shares were in demand.
United States Steel retained leader
ship reaching 174 up two points
and holding firm at the higher rate.
Excellent advances were scored by
General Electric, Johns-ManVllle,
Westinghouse Electric and other
pivotal issues.
Strength in the leaders brought
confidence into the rank and file Of
traders. Orders poured in from all
sections of the country.
Nevertheless much caution was
displayed. On the bulges traders
who had run up a good profit sold
to receive it. But each time a slight
reaction occurred there were more
buyers than sellers and the prices
quickly snapped back.
Copper stocks continued to move
higher. Andes was a fayorite, riS-
ing to a, new high level about 81,
up IL. Anaconda, American Smelt-
ing, CRANKY and Greene Cananea
also gained, while Kennecott de-
clined.
Railroad shares resumed their adj
vance with Erie, and Baltimore &
Ohio rising. New York Central and
New Haven, however, Sagged. 4.
Wide gains running to seven
points were scored by Radio Cor
poration, Wright Aero and Brooklyn
Union Gas. The latter featured the
utility group which again included
Public Service, American Power and
Light, American and Foreign Power
and Consolidated Gas.
Steel issues followed United States
Steel into higher ground. Oils were
firmer on news of progress toward
proration of production to curtail
output. AmuSementS shares firmed
up in early dealings, with Warner
and Loew's in demand. Mercantile
stocks also were strong, especially
the mail order group.
An advance of 10 points to SOS
cents a pound for lead helped st.
Joseph Lead to rise more than 5
points.
Motor shares and rubbers were
firm.
Motor shares generally were at
higher prices, as were the rails.
while such special issues as National
Cash Register were in good demand.
Copper shares ruled strong.
Greene Cananea held at the previ-
Gus close of IT'S. while Andes adj
vanced fractionally to 60% in very
active turnover. Anaconda also was
in demand.
Amusement shares we're strong
with Loew'S up a point at 763s and
Warner Brothers Pictures up liz at
1885.
Utilities continued to rise, as did
merchantile shares, the latter led
by Montgomery Ward. General
Electric rose 3 points to 1921, and
substantial gain was made by
American Can.
While the rise continued In the
early dealings, the mar was not
entirely treasured that ould con-
tinue in view of the 4iulness of
the federal reserve ID. The pos
sibility of a rise in the rediScount
rate Thursday was still a factor,
particularly in view of the belief
that three-day holiday would be
declared over the weekend.