New Britain herald., 1930-08-29
Week. End Stock Market Closing
 Finds Shares Making Good Gains;
 Bears Caught With Short Accounts
Operators for Decline Dis cover Expected Slump Mythical - Most of Im- pOrtant Issues Rise at Least One Point - Trad ing Dull.

New ork, Aug, g9 F-BearS who waited until the last day be- fore the three-day weekend sus- pension to close out their short con- tracts found stocks could be bought only at increasingly higher prices in today's stock market.
 Rails, which had been heavily sold by the bear crowd, because of the low summer volume of freight traffic, the lowest in eight years, made one Of the most pronounced upturns Of the summer. A long list of important industrial utilities and merchandising shares made moder- ate headway. Trading was extremely dull however, as many operators had already left town for the week end.
 Most Shares Gain
 Few important shares failed to gain as much as a point. Advances ot to or more were recorded by American Tobacco B. Westinghouse Electric. Eastman Kodak, Coca Co., la, Rock Island, Southern Railway, and Canadian Pacific. In addition Atchison, Union Pacific, New Haven, Air Reduction. American Telephone. Macy and Real Silk Hosiery gained ? or more. |. s. Steel, trading ex- dividend, gained more than ?. Transamerican made on of tlA best gains since it's transference from
  coincident to announcement Of ex- pansion abroad. Packard, however, eased under considerable liquida- ton.
 The bull leaders probably applied some pressure to the bear faction. to give the list firm tone at the end of the week. Prominent specu- lators for the advance have been hoping for better market after Labor Day but it is acknowledged that the extent of the progress to be made will depend upon successful restoration of public confidence in the stock market.
 News Mostly Unfavorable
 The days corporate news was light and inclined to be unfavora ble. but it involved situations apparently already discounted. Most conspicu- ous were announcement of passing O. the Oliver Farm equipment par ticipating preferred dividend, and the Celotax preferred dividend.
 The advance in the rails may have represented more than short cover ing for July earnings statements while showing a reduction of about 30 per cent from last year, are run ming little better than June, as compared to 1929, and more than 60 Class carriers have already re- ported.
 Wall Street was inclined to place . decidedly favorable interpretation on the brokerage loan figures, show ing for the second week a moderate reduction for 9 period Of rising stock prices, If the buying has been entirely of professional char acter, as some of the more pessi- mlstlc observers have felt. the figures indicate that professionals were pay ing cash.
 While reduction of sa6,n00,0 GOO IS moderate, bulls point out that the volume of trading has been small
 Call Money Plentiful
 Call money continued abundant at per cent, as eagerness to place funds for the three-day period off set withdrawals to meet holiday currency requirements. The federal reserve condition statement showed a reduction in the volume of credit | outstanding for the latest week. The system will be able to offset any credit tightening which may appear next week, The pinch of month end settlements is usually felt a few days after the first. A resumption of the gold movement to France caused no concern in banking circles,
 THE MARKET AT 2:0O-3;O0 P. VI,
 Total sales to 2;1o ?, m.-1,394,- 500 shares.