New Britain herald., 1930-12-30
Stock Market Receives Vigorous Boost Today When Announcement
 Of Railway Merger Is Released
Carrier Shares Makes a Splendid Rally After Wall Street Learns of Consolidation.

New York. Dec. 3o tRl-The stock market received vigorous boost to- day, after threatening ever since Christmas to end the year at the worst.
 This lift came in the announce ment that the eastern trunkline railway heads had finally agreed up on consolidation plan. While it had been rumored for q fortnight that an agreement urged by Washing ton, was near. Wall street had been skeptical, after a decade of futile negotiations.
 The carrier shares made one Of the most vigorous advances of re- cent years, long list of shares ad- vancing about , to points. The market had shown firm tone through most Of the morning, but the list received a decided fllip from the announcement from Wash ington at midday New Haven and Atlantic Coast Line shot up about points. and LackaWanna [. Issues advancing 3 to included New York Central, Pennsylvania. Erie. Balti- more and Ohio, Missouri Pacific, Atchison, Union Pacific and others.
 Chesap peake and Ohio and Ale ghany Corp. gained j. Industrials and utilities joined the advance. Such issues as L. s. Steel, American Telephone. Union Carbide and West inghouse Electric gained 10 3. while American Can and Allied Chemical mounted more than 5.
 Rails Move Forward
 II was notable that the rail shares as group moved forward. the con solidation plan providing the neces- sary impetus for a general upturn, including stocks of carriers not di- rectly affected. Wall street has felt, however, that solution of the east crn trunk line priblem would lead realignmcAts throughout the conn try. Although railway earnings this year have declined precipttantly - net operating revenue for Class I carriers showing an aggregate drop Of more than 2G per cent from last year in both October and November the prospect of accomplishment of a unifcation plan which will 1n- crease operating efficiency. at a time when the roads physical equipment is in the best shape in its history, is expected in financial circles to en- nance the prospect Of recovery, dcs- pite increasing competition from other means Of transportation.
 Trade Reviews Help
 The weekly steel trade reviews. appearing day early because Of the New Years holiday, also helped the share market. While ingot outpu, is still around 30 per cent Of ca pacity, the reviews indicate an early return 10 about 50 per cent, and less drastic shutdowns over the coming weekend than occurred over the Christmas weekend It appears, however, that much Of the contracting has been on the basis of prices before the recent increases.
 In the non-ferrOus metals, copper remained firm, Copper Exporters, Incr making effective yesteday's quarter-cent increase in the domes- tic price. The price. |. l. r. Euro pean base ports was jacked up from 10.55 cents to 10.SO d pound. Silver, however, continued to de- cline, recording a new historical low at 30&4 cents an ounce. Since the drop in silver is due primarily 10 the shifting Of India to q gold none tary basis, rather than -produc- tion. producers see little prospect Of stability. save through an intcrna- tional agreement, or possibly a sll- yer loan to China.
 After shooting mp to per cent yesterday, call money renewed at 312 per cent, and was steady to firm at that level.