New Britain herald., 1930-07-17
Bullish Operators Are Pressed Forward Progressively In Today's
 Stock Markets Taking of Profit
Some Commission Houses Advise Their Clients to Await Reactions Before Buying Further.

New York, July r (P) - Ambi- tlous bullish operations were press ed forward aggressively in todays stock market, although further fur ries of profit taking hampered the proceedings at times.
 The bull leadership displayed no impairment of confidence, although their following appeared rather ner- vous and not averse to deserting the cause at the first sign of diffi- culty.
 With business news still failing to show anything conclusive about the expected, or hoped for, recovery, several commission houses advised their clients to take profits and await reactions before doing further buying.
 The market was subjected to con- siderable selling in the first half hour, but it was we'll absorbed, and during the next few hours of trad ing, the list showed considerable buoyancy, as pool favorites were briskly worked higher.
 The market turned dull during the early afternoon, and further profit taking appeared, but an upturn in the wheat market at that time, re- flecting reports of rust in Manitoba, was stabilizing development.
 Corporate news, little less pleas ing than it has been for the past few days when a few large corpora ticns published favorable earnings statements, appearing today includ- ed Purity Bakeries, showing net equal to s3 a share during the first 2S weeks of the year, as reduced from s3.45 in the same period a year ago, and Mathieson Alkali, with Sl cents a share in the June quarter, as reduced from 96 cents.
 Sarnoff Optimistic
 David Sarnot, president of Radio Corp, was mildly optimistic. He sad the report for the first half would not offer much encouragement, but explained the radio industry has passed through very trying stage and 1t is just about able now to sense the turn toward improved condi- tions.'
 The six months report of power consumption issued by National Electric Light Association was inter- preted favorably to manufacturers of small electrical appliances. Household consumption showed a gain of 13.7 per cent over last year, and small business concerns, 6S per cent. Large industrial users, howev- CT, took 2.2 per cent less, and the gain for the entire consumption was only 1.7 per cent, considerably less than normal.
 Decide to Reduce
 News from the oil industry was again pleasing with Texas producers agreeing to further reductions, and the Sinclair Erie merger negotia tions, which may include disposal oi holdings in Sinclair Pipeline to Standard of Indiana, understood to be progressing.
 The utilities encountered some pressure. perhaps in reflection of the power consumption report. Electric Power and Light, Pacific Lighting, and Public Service of N. J. sold off point or two. Such important shares as U. S. Steel, American Tel ephone, General Electric, Radio and Standard of N. J. sold off a point or so at times, but were firmly sup ported on slight sags.
 Amusements Good
 The amusements were well bought, Loews and Fox rising points or more. Vanadium was again a popu- lar trading favorite, going up about points. Wrigley, one of the few companies to report higher earnings than last year. rose more than 4 to new high for 1880. Underwood Elliott Freeport Texas, Warrington, and Amerada sold up ? or more.
 High fliers were such volatile is- sues as Auburn, Allied Chemical and Vulcan Detinning, making extreme gains of to 10.
 Call money was plentiful at per cent, with some offered at 1 12 out side.