New Britain herald., 1930-11-19
Markets Recent Nervous Tension Apparently Based Judged By Way
 News of Firms Failure Is Heard
Issues Push Higher in Quiet Selling Session With Shares Gaining Several Points.

New York, Nov. 19 Pe-Having passed the tests of secondary sell ing wave the stock market pushed higher in quiet trading today.
 Business news was too confused to inspire any brisk upturn, but the fact that the market was able tn withstand announcement of inso!- vency of one Of the smaller stock exchange members was regarded as evidence that the recent nervous ten- sion had been effectively eased.
 Shares gaining , to 8 points or more lqcluded Atchison, Reading, Union Pacific, Southern Railway, ! Westinghouse Electric, Dupont, By CTS. Johns Manville, United Aircraft, Allied Chemical, Hudson, Stude- baker, Electric Auto Lite, Kelsey Hayes Bohn Aluminium, Timkeil Roller Bearing, Eaton Axle, and | Western Union. Such issues as L. s. Steel, North American, American Can, General Electric, Consolidated Gas, International Telephone, Fox, LoeWs, Woolworth and Procter and i Gamble gained d point or more. Motors Improve
 Improvement of the motor and motor accessory manufacturing Is- sues was conspicuous. While motor manufacturing has made uneven progress of late, there has been a definite pickup in 1he aggregate. and with dealer inventories drastically reduced in most cases, there is tendency to regard the prospects for l93l models with restrained opti- mism. Studebaker reported October sales actually above that month of 1929. Distribution of about $4.400.- 900 of the cash surplus Of Queen and Crescent as an extra dividend helped the rail issues. The bulk of this distribution will go 10 Southern Railway, which controls Queen and Crescent. but Baltimore and Ohio also owns about a one-third inter- est, and will share accordingly.
 The weekly steel trade reviews reported but slight decrease in i ingot output from the preceding week. Iron Age" estimated opera lions at 45 per cent of capacity, against 4 in he preceding week, and 46 two weeks ago. This publi- cation pointed out that inquiries for about 50,000 freight cars, requiring 7Go,o0o tons Of steel. are expected shortly. While little if my improve ment in the steel industry is expect cd until after the turn of the year. i larger taking6 by railroads and au- tomobile manufacturers are expect ed to have a stabilizing influence and efforts to stabilize finished steel prices are apparently meeting with success.
 American Metal Market" said
 ''an upturn immediately after Janu- aTy is practically certain and should continue into March, bu; nothing expecting q high rate (qf production) is expected until gen. eral business has had quite substan- tial improvement"
 Car Loading Drop
 The freight car loadings figures as announced for the week ended November showed q drop of 53,239 cars from the previous week, but this was largely attributable to the election day holiday. The weekly petroleum figures were disappoint- ing. showing another gain in gaso- lne stocks. amounting to 25l,OOO barrels. Crude production also pick eG up q little.
 The copper situation remained somewhat confused, Leading pro ducers still held their prices at 1- cents a pound, but there was virtu- ally no domestic buying reported lt that price. and speculators offered the metal substantially lower,
 Passing of the selling crisis in the Winnipeg grain market had fav- orable influence on speculative seu- timent. One interpretation place! on the refusal of the Canadian fed cral government to guarantee a min mum price for wheat was that gov "rnment officials apparently felt that the bottom had been reached.
 Call money was easy, with out side offerings at ! l-4 per cent.