New Britain herald., 1930-09-12
Bulls Rally Today to Raise Prices At Closing of Trading This Week;
 Operations Focused On Utilities
Market Sags in Morning But Gains Strength at Noon - Merchandising Issues Profit by Good Re- port.

New York, Sept. 12 tP - Bulls rallied their forces to give the stock market an upward tilt at the end of the week today. as they have done for the past three weeks.
 Professional operations for the advance converged upon the utili- ties, and embraced several of the merchandise, food and miscellane- ous manufacturing issues. Although the amount of public participation which has been coaxed back into the stock market has been meagre enough, professional traders know that the market must close the week with an upward tendency, or speculative confidence will weaken before Monday.
 Sags Until Noon
 The market was inclined to sag for time in the morning, but the trend was turned by midday. Amer ican Water Works, American Power and Light, National Power and Light, Electric Power and Light, Consolidated Gas. Pacif6 Lighting, National Biscuit, Coca Cola, U. S. Steel, Westinghouse Electric, Me Keesport, Worthington. Gillette, Grand Silver. F. w. Grant. Interstate Department Stores, and .Kroger Grocery gained about one to two points. International Telephone, Curtiss Publishing, Vanadium, Auto strop, and Eastman advanced about to 8. Higher f1iers were Inter national Business Machines, and Newton Steel. up 6 and more. Case, however. dropped a few points. and Sears Roebuck was under pressure.
 Along with the move in the utili- ties was heard considerable gossip in brokerage circles about big mer- ger being arranged by the Electric Bond & Share interests. This old rumor has been brushed off and trotted out so often that it doesn't make much impression any more, but still Wall street would not be surprised in the Bond & Share pro- perties were eventually unified.
 Merchandising Assisted
 
 helped by the August report of Great Atlantic & Pacific, showing new high record, about 1-4 per cent over August of 1929, and the state ment of the management that all indices led it to look for continued improvement during the autumn and winter. SeaFs Roebuck's report for the 9th period of its 13-month calen- dar, however, showed a drop of IA per cent from last year. A consid- erable number of merchandising or ganizations, however, are reporting definite improvement, and several shares having strong market spon sorship were advanced substantial y.
 On the whole, the days news was 1 inconclusive. Against further im- provement in steel scrap prices, price reductions in black and gal vanized steel sheets were reduced by Chicago jobbers. Balancing recent retail gasoline price cuts, was fur ther frmness in wholesale gasoline at Chicago. In the non-ferrous metals, August copper statistics were again unsatisfactory, showing fur ther piling up of refiners stocks. AL though large producers are still asking Il cents a pound, few sales over 10 3-4 cents have been made lately. Silver prices, however, were a little f1rmer.
 Wheat Causes Slump
 Further heaviness of the wheat market was used as a basis for fur ther selling of the farm implements. and Case broke several points dur ing the morning, momentarily un- settling the entire list.
 Money continued plentiful, as funds piled up at the banks in pre- paration for the Sept. IS settlements. Call money officially renewed at 2 1-2 per cent, but was soon being offered outside at 1 3-4.
 THE MARKET AIT o.0O q .0O D NT