The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1929-04-23
BR0ADNALE Buying.
BOOMS STOCK Sales
Score Of Issues Carried to New
High Level; 100, 900 Block
y
OF Shares Sold

New York, April 2S.-(AP)-Broad
scale buying operations carried more
than q score Of issues to record high
levels In today's stock market. Elk
IRENE gains in the active issues
ranged from I to 3 points, with few
| high priced specialties marked up 10
TO 20 points In . thin market. The
rally was slowed up In the early att
crnoon by softening OF call money
rates,
Call money renewed unchanged at
~ per cent but advanced to 8 In re-
Election Of the growing demand for
funds Is . result Of the increased
speculative activity In securities. Time
money, commercial paper and banker
acceptance rates were unchanged.
One Of the features Of the session
was the opening sale Of q block OF
10000 shares Of Simms Petroleum at
80. representing turnover OF S.
00O. 900. This Is believed to be the larg-
est individual transaction ever re-
corded on the exchange although
few smaller transactions have ex-
ceeded 1t In dollar value. The sale
was made to M. J. Meehan. who was
reported to be acting for q powerful
new group In that issue.
Failure of the PREPARATIONS experts
to reach an agreement also tended to
slow up bullish activities. Hope Is still
held out In New York banking. quar-
tiers that an early solution may be
found Of this troublesome problem,
| and to date there has been no panicky
liquidation Of either German marks
or German securities. Except for the
| publication of another batch of ia
vorable earnings statements there was
little else in the days news to influ-
ence speculative sentiment.
"A brisk demand for the chemical
shares also attracted widespread at
tention. Recent accumulation Of these
issues has been based on the growing
use Of chemicals In manufacturing
and oil refining activities, as well as
In agriculture. A new chemical for the
liquid cooling Of airplane engines is
reported to be one Of the latest de-
velopments Of the industry. CONNER
cial solvents was the leader in that
group, soaring more than 10 points to
a new high record. Liquid Carbonic
and Allied Chemical sold at least 6
points above yesterdays final quota
lions. and Union Carbide moved into
high ground.
New peak prices also were estab.
lished by American Telephone, Adams
Express, Borg Warner, Bohn ALUMNI
mum, North American. Republic Steel,
Consolidated Film preferred. Hershey
Chocolate common and preferred,
Phillips Jones, and New Haven.
There were few soft spots. Ameri-
can Can, Bethlehem Steel. Allegheny
Corporation, General Electric, and
Greene Cananea Copper. which had
been prominent In the recent recov-
cry. showed q tendency to fall back
on profit-taking.
| Execution Of buying orders for sew
feral large blocks Of General Motors
attracted. an immediate speculative
following. which quickly ran the prsce
up to around 81. Simms Petroleum
kept climbing and crossed 80, but Sin
clair and Houston OIL turned heavy.
international Harvester moved up 3
points on brisk bidding and Case
Threading fell back 4. New Haven rose
across 102. carrying with 1t some
other popular rails.
The closing was strong. Sales ap-
proximated 100000 shares.