New Britain herald., 1930-11-25
Extra Dividends lnfuse Holiday Cheer Into Stock Market While
 Share Prices Reach High Levels
Trade and Financial News Proves Measuring, Add ing to General Optimism of Session.

New York, Nov. 25 Lp-A little holiday cheer was infused into to- days stock market as a few cor porations provided sauce for the turkey in the form Of extra or spc- ciaI dividends.
 Shares prices pushed quietly back 10 the high levels Of the recovery, recorded last Friday In addition to cheering dividend announcements trade and financial news was in the main reassuring. particularly indica- tons of further efforts 10 stabilize steel prices.
 Trading was a little more lively than yesterday. and there were numerous gains of , points or so, notably in T.. s. Steel, Republic Steel, Byers, American Telephone, Consoli- dated Gas, Union Pacific, New York Central, Goodyear and J. C. Penney.
 Locomotives Advance
 A few shares advanced about 10 ,, including American Locomotive, Lima Locomotive, Allied Chemical. AtchisOn, L. g. Industrial Alcohol. IngersoIl Rand, and International Business Machines. The mail order shares sagged, after yesterdays brisk upturn, and the motion pictures de clined moderately.
 The reopening of some of the re- gently closed banks in inc south an1 southwest, together with reports from banking commissioners indicat- ing that the crisis had passed. had q salutory effect upon sentiment, while these difficulties had been isolated and due to local situations. they had been an adverse psychological in1u- cnce at a time when gloom was al ready deep.
 steel Shares Helped
 Tho steel shares were helped by a firm stand taken on sheet prices by |. S. Steel. coming upon in. heels Of the recent announcement Of a minimum schedule for plates, shapes and bars. Furthermore, some producers have advised their GUS toners that current minimum prices cannot be guaranteed for the first quarter of next year. Railway equip ments were bid up in expectation Of improvement in business after the first of the year. and in the case Of American Locomotive. in re sponsc 10 news Of further diyersif- cation Of it's activity.
 In the motion picture shares, Fox Film, and LocWs, in which Fox has dominant interest, were heaviest. This may have been in part re lcction Of the adverse supreme court decision in the distribution case, but the practices complained of are understood to have been abandoned some time ago. It was regarded as probable that some trad CTS were disappointed in the extra dividend Of $1 by Loews, as there had been some talk of increasing the regular annual rate of 5.
 Declare stock Dividend
 Allied Chemical declared stock dividend of 1-20 of a share, in ad- dIuOn 10 its regular cash payment, as it did a year ago. and Intena- tIOnal Business Machines ordered a q per cent StOCk dlStrlDutOn, pre- sumably rehecting it's increased earn ings this year. Humble Oil ordered an extra Of 30 cents.
 Hope that copper producers may bc able 10 maintain their l2-cent price, despite the fact that the metal has been available at substantial concessions for several days, was revived by an announcement that Anaconda and it's subsidiaries are eating production 10 per cent Mo- tor production figures for the latest week showed a smaller than sea sonal decline. owing to the earlier than usual announcement Of new models by a large manufacturer.
 The weekly condition statement Of the reporting federal reserve mcm- bcr banks showed a drop of S66,- 0Uu,0o0 in loans against securities. or $lG,00o.0oQ greater than the drop in brokers loans. All other, or com norcIaI loans. increased $S9000.- o0r, presumably indicating prepara- -ipn. for ha bp1jI1,- I.