New Britain herald., 1930-03-21
Call Money Increase Unsettles Market and Causes Irregular
 Session After Early 0utburst
50 Issues Reach Years New Highs; Sales Ap- proach 5,OOO,OOO Mark Ticker Runs 40 Minutes Behind Transactions.

New York, March 21 P-Unex- pected increases from to 4 per cent and thence to 41s per cent in the call money rate, which accom- panied the calling of about s100,- 1 100000 in loans, turned the course of stock prices irregular today after an early outburst of buying had carried more than 50 issues to new | high levels for the year. Trading showed marked expansion in vol ume, with indications by early after noon that total sales would cross the l 5,000,000 share mark for the first time this year. The ticket ran as much as 10 minutes behind tne market.
 Reasons Are Explained Paying off of the treasury over- draft at the Federal Reserve, coupled with the fact that out-of- town banks corporations no longer found the low rates prevailing here earlier in the week an inducement to lend on call, accounted for the ! SbuuNh III iIlllSoS ol liOICSs IliSl rates here will invariably attract funds back so that Wall street gen. erally looks for a fairly stable call rate moderately above the low levels reached this week.
 Business news still gave no indi- Presidents of three large railroads commented today on the sharp fall ing off in freight traffic, which is now running at the lowest levels for this period of the year since 1922 Several new merger rumors cropped out during the day, the latest in volving the proposed acquisition of Wick Chemical by Drug, Inc.
 U. s. Steel Fluctuates
 In the early outburst of buying. |. S. Steel common touched 190, up 8 3-S points. for the first time this year, but sold off from that level on profit taking. Amerilln Telephone, Electric Auto Lite, Electric Power & Light, Coca Cola, Union Carbide. Vanadium Steel. Public Service of New Jersey, North American Co.,, General Motors and Underwood FL liott Fisher were among the many other issues to reach new high ground for the year.
 Further efforts were made by speculators for the advance to re- vive enthusiasm for the motor shares. General Motors crossed 49 tc a new high, and Chrysler was taken in large blocks at advancing prices, but both issues met with heavy offerings on the rally.
 United Carbon was a spectacular feature, soaring 10 points to a new high at 72. Atlas Power jumped S& to 1o4 +. Bearish professionals con tinued to sell heavily several stocks which recently have shown poor re- sistance to selling pressure. Ma, tional Cash Register, which devel- oped weakness yesterday on uncon. frmed rumors of new financing, wa, hammered down more than points to another new low at 67 7-S.
 Gillette Stock Drops
 Gillette Safety Razor broke below S2 to a new low despite reports that the company had sufficient orders on hand to keep plants operating for a year. American Can & Foun. dry dropped points to 67, the low. est price in 12 years. Renewal ol selling pressure against Simmons carried that issue down about points to new low at 45 5-s, which contrasts with high of 1SS ,last September.
 Youngstown Sheet & Tube broke points, Johns Manville AZ, Co. lumbia Carbon 3 F and Sears Roe. buck 5.
 The Market at 2:3O BOO P, NJ.
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