New Britain herald., 1930-10-15
Stock Market Makes Quiet Gains In Light Trading After Throwing
 Of Hesitancy of Early Morning
Expected Retreat of Bears Fails to Develop - Ru- mors of U. S. Steel Extra Dividend Persist - Sep tember Exports Gain.

New York, Oct. Is CPNThe stock market again moved quietly for ward today, quickly throwing off hesitancy which developed for time in the morning and accomp- fishing its gains with light trading.
 There was no rush of short cover ing, although brokerage circles had been inclined to look for a rather nasty retreat of the bears after the scarcity of stocks which developed in the loan crowd after the previous close. Wall street was inclined to place various interpretations on disclosure that the president and vice president of the stock exchange had visited President Hoover over the week end, but it's significance was not disclosed in the action of the market. save possibly in the cautious attitude of the bears.
 Steel Dividend Rumors
 U. s. Steel rose about 3 points, and the well-worn rumors of an ex- tra dividend was again heard in brokerage circles, gaining some credence in view of the recent eX- tra by American Can. Other shares gaining or more included Johns Manville, North American, Colum- bian Carbon and Gillette. After selling off nearly points, Allied Chemical bounded upward to show a gain of more than 4. Eastman and Case converted earl; losses of and five into miderate gains.
 Wall street was again inclined to vi.. the days business news favor ably. The sharp upturn in freight car loadings, as reported for the week ended Oct. 4 was particularly cheering, as it marked an abrupt turn in the downward trend of Sep tember. The gain of 22,111 cars over the previous week still left the movement close to the levels of 1922, but in previous weeks it had been the lowest since 1921.
 Ingot Output Declines
 The steel trade reviews again in- dicated further slackening of ingot output in the past week. estimates of the curtailment varying from 1 F 10 per cent, reducing operations to somewhere between 52 and 55 per cent Of capacity In view of the untavorable psychological effects of last weeks unsettlement in the spec uiative markets, however, the re- duction was not unexpected, and was without notable effect upon the stock market. "Steel" reported that pro- ducers of finished steel were making the most positive efforts in months to firm prices, in the hope of bring ing consumers into the market who have been hesitant to buy because of the unsettled price structure.
 Several third quarter earnings statements appeared and failed to bear out many of the gloomy esti- mates heard during past week. It had been expected that the third quarter, covering the summer months, would be unsatisfactory. General Electric. however, was able to report 45 cents a share, against 59 cents in the like period of last year. The Chesapeake Corp. actually reported a substantial gain. with 9S cents share, against so cents year ago. Western Union, with net of s2.22 for the quarter, earned it's s2 quarterly dividend by a substantial margin.
 September Exports Gain
 Foreign trade statistics for Sep tember showed a gain in exports of about s20,O0O,O00 over August, the second successive increase. Imports were S9,000,000 over August, which was unusual, for September had not shown a gain over the previous month since 1926.
 Call money held firm at ? per cent. Greater firmness in the money market at this time was at tributed partially to the mid-month settlements. In foreign exchanges, a better tone in the German mark was re garded favorably, presumably in dicating that the flight of capital from Berlin had been checked by the higher Reichsbank rate, and the threat of a still higher rate if ne- cessary.
 THE MARKET AT 2:OO-3:OO P. NJ.
 Total sales to 2:10 p. m,-1,947,- 200 shares
 Hich [ ou Close