New Britain herald., 1930-08-27
Spectators for Rise Find Stock Market Still Determined Today
 To Keep Shy of BuIlish Advices
Profit Taking Crops Out In
 Considerable Volume - Bears UnsettIe List - Prices Move Irregularly.

New York, Aug. 27 LPp-Specula- tors for the rise found the stock market still determined today to take administrations Of bullishness in small and cautious doses.
 After substantial extension Of yesterdays gains during the first hour, profit taking cropped out in considerable volume, and bears un- settled the list by searching out weak spots Operations for the ad- vance were strenuously pressed for ward, but the price movement be- came somewhat irregular. Trading was in the largest volume in several days.
 After advancing q point, L. S. Steel attracted selling and sold off point or so under yesterdays close. but vas supported well. On the whole, pivotal shares moved narrow ly. During the early rise, in which utilities and specialties were prom lnent, Allied Chemical Rose 8, Dela- ware X Hudson $, and Atchison, Eastman, Warrington. Safeway, American and Foreign Power, Elec- tric Power & Light, Stone & Web ster, New Haven. Sears Roebuck and American Tobacco E, to ,, These advances were reduced later, al- though good buying reappeared in some of the merchandising, amuse- ment and manufacturing shares. i NanadUm was heavily sold, breaking more than 1. Oliver Farm common ! and Bonn -4luminum dropped to 1 new lows, and Oliver Farm preferred sold off about ', before rallying.
 Bulls Enthused
 Professional operators appeared ! determined to make the most of the ] more cheerful tenor Of business and trade news. Although the indicated i improvement thus far is slight, and ! few bankers or statistical services | predicting any spectacular accelera- tion of business in the fall, the fact 1 that the tide appeared 10 have turn cd instilled renewed bullish enthusi- asm.
 The days trade reports were not | in agreement as to the extent of the improvement in business evident since Aug, l. The weekly steel trade ] reviews were q little contra adictory Iron Age" estimated that steel mill operations for the country at large had improved in the past week but one per cent, placing production at A per cent of capacity against B a fortnight ago. "Steer' agreed with Dow, Jones d5 Co.,. which yester- day placed operations at 5S per cent, against 54 1-2 week previous ly, American Metal Market" said that operations now approximate the weekly average of July, which was calculated by the Iron and Steel institute at slightly above 56 per cent. The steel trade reviews in dicated that consumers are now willing to buy well into the future. evidently feeling that prices have l touched bottom, while producers are reluctant to sell much ct the current low levels
 An encouraging development was an improvement in building opera tons. r. ". Dodge Corps daily av- erage for the first three weeks of August showing a slight decrease over the extremely low levels of July. Freight car loadings for the second week Of the month showed a gain Of about per cent over the previous week, little more than ..
 the total was still the lowest since 1922. The American Federation of Labor estimated that unemployment in August had been cut down 3-1o of one per cent from July.
 Credit showed a slightly frmer undertone. perhaps the first refec- tiOn of the month-end and holiday requirements. Call money still held at per cent,