New Britain herald., 1930-05-16
Statistical Service Offers Optimistic Figures On April Trade - Some of Rails Attract Fair Buy ing Support, Notably the Eastern Lines.

Eastern Lines.
 New York. May Is LP-The stock market virtually surrendered itself to speculative apathy today and Wall street was left 10 comb the business news and statistical studies coming to hand or signs of devel- opments that might cause a market awakening. Trading crept forward al snail's pace, and price changes were largely negligible, save in q few specialties.
 Figures show Increase
 One Of the most encouraging sta tistIcsl analysis making its appear ance vas the annaist preliminary index O business activity for April. which at 92 showed Q sharp up- turn from the Sa.5 figure for March The principal March 10 April gains ! were in freight car loadings, electrlc , power production, and cotton con- ! sum ption. r. vas particularly not ! able that the month showed a greater than seasonal gain in the movement of manufactured goods. 1 The annalist stated, however, that present indications point 10 q smaller gain in general activity dur ! ing May.
 i The foreign trade figures, appear ] ing for April wore again unsatis- factory Exports at s334.0oo,Qo0 were the lowest Of the year, and showed drop in excess of s90,Q00,- i o06 from April. 1929, Imports at s365d1oo0o were approximately February. but were more than S1o0.0Q0n0o below the same period q year ago.
 Imports of Gold Large
 Imports of gold, however, reached the large total Of $65.539,G0h. and this has undoubtedly been an i'm portant factor in the current low credit rs tes. The ma1or portion ot the yellow metal came from Japan which has been having difficulty es- tablishlnc a favorable trade balance since returning to 2 gold standard As an indication Of the abundant credit in this country. the treasury was able 10 sell its new offering of
 Sloo, ,on.o0n in bills on a discount
 basis Of 2.54 per cent. record low
 rate for this comparatively neT
 form of treasury financing. Cal
 money on the stock exchange helt
 at per cent. but time mone,
 showed an easier tone. with al
 abundance of 3n-dsy funds avail
 able at 10 3A. per cent
 Warren Pipe and Fairbanks Morse
 two specialties which are rumored f have attracted new market spon sorship, rose moderately to new hlg'
 ground for the year. Reynold , Metals, another specially which ha
 shown renewed activity Of late, ga g
 ged little in the early trading. bu
 was quickly supported when new
 tickets carried a report that it ~oult
 soon announced the acquisition c another large maker Of metalli , foil. This stock has been helped b , reports of increasing tobacco sales American Tobacco B, appeared L . have absorbed recent profit taking 7 and again surged up few points. Rails Attract Buying Some Of the rails attracted fai
 buying, such issues as New Tor , Central, Atchison, Delaware an Hudson. and Great Western prefer ; red making moderate headway. Au . burn Auto rallied points, then los s its gain,
 \ Celotex rallied like amount 0
 dismissal Of petition for a temper 6 ary receiver but sagged again vhe 1t was learned that appointment c a permanent receiver is still 10 |
 argued. American Can, Coca Col; F Pan American D, United Alrcraf C and American and Foreign PoTe V were among issues making moderat c progress
 National Supply broke 10 th n years minimum levels in belatcd rc :. sponso 10 report os first quarte :. earnings or only 46 cents. again
 :3.03 q share in tho like period (
 last year Vulcan Desunning ais
 broke sharply or q poor first quar < ter report. and American Locomc |. tive dropping 10 a new 193o low n belated response 10 the halvlng the dividend Coppers and some ( e the motors were heavy.