New Britain herald., 1930-08-05
Bulls Fail to Make Much Headway In Dull Market; Drought In West
 Adds to Speculative Uncertainty
Crop Damage Reflected in Wall Street-Slight Pick up in Retail Trade Stirs Merchandising Shares Business News of Gener- ally Good Tone.

New York, Aug. LP)-The bull troupe continued to perform rather Wearily to an all but empty house in todays stock market but failed to show any signs of Encouragement. |. S, Steel was bid up moderately to new high ground for the current recovery above ITO. and a few other pool faVorites were turned over rather actively. Bulls still failed to develop any notable following how ever. and while floor transactions re- hected some stimulation. commits slon houses were all but idle.
 The revere drought damage to crops in the central west tended to accentuate speculative uncertainty, particularly on reports of heavy rains over certain areas, causing a substantial setback in the cotton market. On sober second thought, Wall street could not interpret any major domestic crop catastrophe very buliishly, although it might end the depression in grain prices. A little more bulli1h attitude was taken | toward the wheat market however particularly since indications of q short crop in France.
 Metals Show Better Tone
 Business news coming to hand vas mildly favorable. In addition to the better tone in the grain markets
 non-ferrous metals are a little firm ep notably lead. Bradstreet's con- modity price index as announced for
 August l. showed a decline of only
 l per cent from July 1. but was the lowest since November 1, 1925. 1 Chrysler reported July sales only | about 20 per cent below July of 1929 relatively the best showing so far this year. Passing the Marmon divi- dend ocCasione1 no surprise Stand ard Brands came nearer 10 earning 1 it's 37l cent quarterly dividend in the second quarter, with net equal to 31 cents a share, IS increased from 26 cents in the first quarter.
 The full effects Of the August 1 settlements, delayed a little by the fact that the weekend intervened immediately after the first, resulted in marking up the call loan rate from to 2l2 per cent, but the long term credit outlook remained favor able, as vas attested by an easier tone in time money The stock ex- change monthly collateral loan state ment, showing a decrease of about one per cent, was favorable in view of the fact that stocks generally showed a substantial net gain for the month. Gold continued to flow to France, and movement to Lon don appeared to be imminent.
 Gain in Retail Trade
 | Although wholesale buyers. with only.a month left to Labor Day, have not been very active in the New York markets of late, some pickup in retail trade is viewed as sea- sonal certainty. and the merChandis ing shares were bid up more active ly than for some time. Macy gained more than points, and Woolworth, Kresge, Sears Roebuck and Sim mons made moderate gains.
 Operations for the advance were again pressed forward in Standards of New Jersey and California Ra- dio, the American Tobacco ghares, Eastman Kodak, Johns Manville, Electric Power and Light Mack Truck, Hudson, and Loewss were among issues rising to mora than points. Eanadium and Warner Bros rose substantially ln short covering. The bull activity in Gen eral Motors lost some Of it's vitality, however, and American Can and American Telephone sagged under profit-t taking for time.