New Britain herald., 1930-11-21
Stock Market Again Creeps Back To Best Levels of Recovery In
 Today's Lifeless Trading Session
Strength of Some Special ties Taken to Indicate Resumption of Pool Ac- tivity.

New York, Nov. 21 LPl The stock market again crept back to the best levels of the recovery to- day, after shying away yesterday.
 The selling which appeared in the last hour of the previous session was carried over into today's early trading. causing further recessions of point or two, but it was soon completed, and the advance resum- ed. Trading was dull, but shares ad- Vanced more readily than they had declined and numerous gains of to points were recorded.
 Most of the trading appeared to be professional, and strength of some of the specialties suggested re- sumption of pool activity. Shares advancing to 6 points included Al ter Wheeler. Nanadium, Worthing- ton, Simmons. Electric Auto Lite, Case and Electric Power and Light. Shares selling up or more includ- ed American Can, Westinghouse Electric, American Brown Boveri
 
 Light, Eastman, Byers, United Air craft, |. s. Pipe, and Eaton Axle. Such shares as L. s. Steel American Telephone, Radio. Kennecott, North American, National Biscuit, Atchi- son, New York Central, Chrysler Loews Fox and Goodyear advanced moderately.
 Wheat Improves
 Continued improvement in the wheat market was a bullish influ- cree, and led to fresh hopes that the decline in commodities had been a5 last checked. Success of efforts to maintain copper at F cents still seemed to hang in the balance, how ever, with spectators and small dealers offering the metal all the way down to 10 IA. The export price still held at the ? cent basis. however, and the trade expects for eign consumers will be forced into the market for substantial amounts sooner than domestic users Of the metal
 The Irving Trust company. in it's mid-month review Of business. pointed to the firmer prices in tex tiles, copper, sugar, rubber and other commodities, and concluded, it seems safe 10 assume that few raw materials can long be bought at less than the costs Of production.2 2
 Contracts Decline
 Statistics for building were less favorable r. w. Dodges report for the first half of November shows a Rockies Of about 9 per cent from the level of October. Electric power consumption in the second week ot | the month showed somewhat moro than the seasonal decline. with { | eduction of S-10 of one per cen from the previous week. It Wal notable, however, that the drop was ! primarily in the industrial areas o1 ! the middle west, where there have | been spotty signs of pickup in the 1 last few days. The decline in this orea more than offset slight gains on the Atlantic seaboard and the Paci- fc coast.
 Moody's, in reporting its prelimin- ary prosperity index" for October, pointed out that while it showed a further decline, the downward curve was fattening out, for the drop was the smallest since last June. The extent of the decline in this index was less than the drop in the fig ure for gross trade, for the prosperi- ty index was buoyed up by a con- pensatng reduction in the cost of living. Moody's pointed to sub-nor- nal confidence in business and fnan- cial circles as the most stubborn clement that still needs to be over- come"
 The Irving Trust Review also pointed to mob psychology as an important factor in the general problem of business recovery.
 The further drop of s5o,o0O.o00 in brokers was favorably interpreted. particularly as 1t occurred in 4 period of price improvement Cred | conditions remained about station ary, with call money available "out- side at l per cent. An important commentary on the closing of banks in the south and middle west was the statement of the president of the National Surety Co.,. that it's loss would not exceed s50,000, Wall street regards these closings as due to isolated local conditions, having only rsyrb olOpiraI affects eIsou ro