New Britain herald., 1930-03-25
Stock Market On Wild Bull Rise; Hundred Stocks Hit New Highs
 For Year In Heavy Sales Volume
Ticker Falls 45 Minutes Behind, Forcing Some Profit Taking - Many Reasons Given for Up- ward Swing of Prices.

New York, March a5 IP-The stock market started out on 8 wild bull rampage today in which a hundred or more stocks were lifted to new high record. for the year. So great was the volume of trading that the ticker fell 4o minutes be- hind the market, the delay inviting sufficient profit taking and short selling to interrupt, but not com pletely check, the advance by early afternoon. Extreme gains in the active issues ranged from 2 to s points, but at the end of the third hour scores of stocks had dipped point or two below their early highs
 Many Reasons Given
 Passage of the tariff bill by the |. S. senate, lowering of the call money rate from 4 to Sla per cent and reports that operations of the Cnlted States Steel corporation were being maintained at 80 per cent of capacity, the first time in three weeks that they had not shown a decline, provided the background for the upward movement. Short cov- ering also was an important factor in the advance, particularly in some of the high priced specialties of which there is small floating supply,
 While the call money rate dropped from 4 to sis per cent, indicating the passing of the strain incidental to the heavy mid-month federal income tax. dividend and interest payments tune money rates held firm. All dealers advanced bankers accept ances Is of per cent after having made nine successive reductions Of similar amount.
 The rapid advance in the market, accompanied by unbridled specula- ton Tn some of the pool specialties, led to advices of caution and profit taking by several of the leading commission houses.
 Oils Rise On Production Cut
 Revival of speculative activity in the oils was based on unofficial esti- mates of another sharp reduction in crude production last week and the prospects of higher crude and gaso- line prices Standard Oil of New Jersey and Houston, with gains of 5 points, were the leaders of tha. group. Foster Wheeler, A. NJ. Byers, Worthington Pump and stocks of other companies which manu- lecture pipe and oil machinery ad- vanced in sympathy.
 Despite the fact that the Febru- ary railroad earnings statements now being published make unfavorable comparison with last year, selective buying continued in the railroad group. Chicago & Eastern Illinois issues moved into new high ground on unconfirmed reports that the Van Sweringen interests had acquired the Thomas Fortune Ryan estate hold ings in that road. Union Pacific, Wa bash, Frisco common and Lehigh Valley also moved into new high ground.
 Peoples Gas Rises
 Peoples Gas ran up points to a new high at 2So. vanadium Steel jumped 1-2 points to a new top at PA 1-2, which contrasts with the years low of 49 7-S, but met heavy profit taking at that level. Bullard Co.,, Newport Co.,, American Can, Air Reduction, Colorado Fuel, Eastman Kodak, Union Carbide, A. M. Byers, Foster Wheeler, WOrthin3ton Pumn Ward Baking preferred. Mcclellan Stores and General Railway Signal all moved into new high ground on gains ranging from 5 to 6 points.
 Among the many other issues to reach new high ground were Ameri- can Telephone, Bethlehem Steel, U. $. Steel, American Bank Note, Checker Cab and American Power & Light. Western Union, Columbian Carbon and J. I. Case were among the few outstanding soft spots.