New Britain herald., 1930-11-24
Market Shakes Off Uncertainty Of Early Morning and Continues
 Feeble Climb, Awaiting Holiday
Early Losses Wiped Out, But Trading Is Dull as Impelling Movement Is Awaited - Christmas Boom Hope of Bulls.

New York, Nov. 24 LPl - After having some difficulty in maintain ing its foothold during the early hours of trading, the stock market managed rather feebIy to resume its climb today.
 Losses of l to ! points recorded during the morning were partially regained by early afternoon. Traders showed little interest in either side of the market, however. and prices moved rather uncertainty. Trading was again sluggish.
 Allied Chemical lost points. then regained about half it's loss. Such shares as U. $. Steel, Westinghouse Electric, Air Reduction, and Ameri- can Can. recovered most of early losses running from l 10 nearly ? points. The rails were distinctly heavy during the morning. and showed little rccuperative power. New York Central, Missouri Pacific, Baltimore and Ohio, and Lackawan- na declined ? to points. The morn ing decline included practically all groups save the coppers, which were virtually neglected.
 Market Marks Time
 The market appeared to be await ing some impelling development Bulls were somewhat disappointed in the fresh selling pressure encoun- tered at the high levels Of the re covery last week, but the belief that there were substantial investment buying orders under the market, and that efforts on the downside would meet with strong opposition, re- strained the bears.
 The most conspicuous develop- ment in the days corporate news, the reduction of the Sinclair quar- terly dividend from 5o to D cents, had been expected and had practi- cally no effect upon the market. IL merely accentuated the unsettled conditions in the oil industry, all ready well understood A report that maximum production allowable under the operation plan in Texas would be cut from 75O,000 barrels daily 10 6So,200 barrels this week provided some oncOuragement.
 Awaits Holiday Signs
 Wall street is now awaiting with keen interest the developments in retail trade after the Thanksgiving day holiday when the first signs of the holiday trade usually appear. The statement made late last week by Silas Strawn. chairman Of Mont eomery Ward, that a change in the trend of buying had already been noted provided the hope that suffi- cient purchasing might develop to deplete merchants shelves and cause substantial reordering from ! wholesalers. This weeks business re . ports will be somewhat warped by the holiday on Thursday.
 Most Of the weekly analysis Of the financial advisory services expressed restrained optimism. The Harvard Economic society stated that the present low level of certain basic in dustries-such as foods-indicates that curtailment cannot go much further There was tendency in most of the adviccs, however, to urge caution.
 The news that the plan of form ing another S1,00o000.oo0 bank in Wall street through combination Of four Of the smaller institutions, had been completed. and that Chairman Case of the Federal Reserve bank was slated to head the new institu- ton, was regarded as a favorable development. Credit conditions showed little change, with call mon- ey going begging in the outside market at 1 per cent.