New Britain herald., 1930-03-28
Stock Market Moves lrregularly Under Influence of Two Business
 Reports of Conflicting Character
Decrease in Federal Re- serve Brokers Loans, Coupled With Improved Trade Situation, Brings Punctuation in Price List.

New York, March oS tTp - The stock market moved irregularly higher today under the influence of an unexpected decrease in federal reserve brokers loans, and signs of improving business conditions. Weak ness cropped out in the banking and merchandising shares, several of which sagged to new 1880 lows, but the general list moved forward un- der the leadership of the public utilities. amusements and high grade industrials.
 Early trading exceeded a million shares an hour rate, with the tick CT again unable 10 keep up with the days transactions.
 Call Money Per cent
 Call money renewed at 4 per cent as against F yesterday, with in dications that the official rate would be maintained at that figure over the weekend. A few loans in the outside market were arranged as low as Shs despite rather substan- tlal calling of loans.
 Time money, commercial paper and bankers acceptance rates held l firm.
 Wall street was surprised at the drop Of s21, 100000 in brokers loans as preliminary estimates generally predicted increases of s10O,OOO, 900 to s200.000,000. In view of the sharp advance in the prices of many leading issues during the period cov- cred by the statement, many ob- servers came to the conclusion that buying must have been for strong investment account, and this tended to stimulate bullish enthusiasm.
 Indications Of an increase In building activity, as reflected in en- glneerlng contracts and building per- mlts, were stressed as a bullish fac tor on the theory that the buying of steel, copper and building materials would be accelerated. February railroad earnings reports, now being published, continue to make un- favorable comparisons with the same month last year, and a further dis appointing showing is expected in the March figures, but improved traffic and earnings are looked tor in April. Coca Cola was the spec tacular feature in today's market, soaring more than 10 points to new l high record on buying influenced by the belief that cheap sugar prices this year would be reflected in mate rially higher earnings for the com pany's product. Auburn Auto. which is one of the few companies reporting shipments and sales in ex- cess of year ago, jumped 61a points.
 Others Make Gains
 A. M. Byers, Worthington Pump Union Carbide, Electric Auto Lite Du Pont, Holland Furnace. Nation al Cash Register and Nanadium Steel all sold three to nearly five points higher.
 Warner Brothers pictures and Paramount Famous Lasky moved into new high ground on report. that earnings were running substan- tlally above year ago. Fox Film which had been held in check by the deeply involved legal proceed. ings arising out of the application for receivership, also ran up three points.
 Public utilities. one of the mos; popular speculative mediums, con. tinued in the forefront of the ad. vance. American Telephone, Pacific Lighting and Public Service of New Jersey moved into new high ground on gains of three points or more while others advanced a point ol two.
 In the rail group, new 1880 high! were recorded by Western Maryland common and second preferred ane Denver, Rio Grande & Western pre- ferred.
 J. c. Penney and R. H. Macy eacf broke five points, the latter touch ing new low at 1S2. Montgomery Ward sold down more than three points and Sears Roebuck brokt four to new 1880 lows.
 Continental Baking "A" and Pur. ity Bakeries also sold at their low. l.