New Britain herald., 1930-10-01
Expected Share Prices Rebound On Market Today With Violence
 That Compensates for Tardiness
Weight Seems Lifted Fol- lowing Suspension of the SistO Firm - Bear Fac tion Is Completely En- gulfed.

New York, Oct. 1 P-The ex- pected rebound in share prices oc- cured in todays stock market with a violence that compensated for it's tardiness.
 With the nervous whisperings which preceded the Sisto suspension partially quieted by the actual de- velopment, a great weight seemed to have been lifted from the mar ket. and the bear faction was com pletely engulfed by the swift up- rush of prices. The market was in clined to turn dull on the advance, however. for business and trade re- ports were not cheerful.
 The advance. nevertheless, was one of the sharpest of the year. Gains of 3 points or so were gen. eral among more active issues. Shorts were sharply squeezed in a few specialties. Several prominent shares surged up 4 to 6 points, in cluding |. s. Steel, duPont. Sears Roebuck. Union Carbide, Westing- house Electric, International Busl- ness Machines, Eastman, American Can, Air Reduction, American Tele- phone, and American Water Works. Case and Canadian Pacific gained more than 10.
 Rebound Expected
 The announcement of the Slsto failure could not be said entirely to have stilled the bearish rumor- mongering that has been in pro- gress for nearly a month, for there was still a feeling in some circles that further pairing down of the Wall street machinery that was built up during the great bull market may cause some further hardships but after six successive days of de- cline, a record for recent years, Wall street was almost unanimous in the opinion that technical rebound in share prices. could not longer be deferred.
 !, Among the less pleasing of the days disclosures were those made by the weekly steel trade reviews, ap- bearing in the early afternoon. Iron Age" Steel, and American Metal Market" agreed that the recent up- turn in steel mill activity had lost it's vitality. Iron Age" estimated operations at 61 per cent of capacity unchanged from the previous week Steel" said there was no diminution of confidence that the low point of the year had been passed, save possibly for the holiday shutdowns at the end of the year, but explained that unfavorable developments out side of the industry, particularly un' expected weakness in the automobile situation, had proved a dampener.
 The loadings of revenue freigh for the week ended September z was announced at only 952,512 cars drop of 13,201 cars from the pre- vious week, although the seasona trend would indicate a gain. The total was the lowest for that week since 1921, and showed the largest percentage drop from 1929 and 1928 yet reported this year. The Nation al City Banks monthly review found the business improvement in Septem- Der too uneven to be impressive. The New York Federal Reserve Banks monthly survey said that demand fol currency and bank credit were sub- stantially below normal.
 The days money market showed little change, with call loans still commanding per cent.
 Somewhat more cheerful were re. ports from Chicago. George NJ. Rey. holds, chairman of the executive committee of the Continental Hi nois Trust Co.,, said he felt that busi, ness might be materially improved by the middle of December. S. w Straus &s Go. reported that building activities in Chicago reached a new high for the wear in September