New Britain herald., 1930-10-24
Stock Market Rebounds Sharply,
 Carrying Even Rails to Highest s Level Since Recent Decline Began
Van Sweringen Issues Par ticularly Buoyant-Bra- zilian Settlement and Op- timism at Steel Meeting g Help to Boost Values - News Not So Encourag- ing.

New York, Oct. 24 P-Share prices bounded upward in todays stock market with the familiar re- silence that appears when the weight of liquidation is completely lifted.
 Even the rails, a contrary group yesterday, joined the recovery, as it carried into it's second day. The market appeared to be governed primarily by technical conditions and trading was light The remarks Of leaders of the steel industry at tn" scmi-annual meeting of the American Iron and Steel Institute, however, and ending of hostilites in brazll, were stimulating to specu- latlve sentiment. Furthermore. the fact that it was the anniversary of the critical black Thursday of the Sa!l!ng panic a year ago, brought out in clear relief the extent of the statutory readjustments which have been accomplished.
 Van Sweringens Recover
 LII tilS ie'ii'7' itNON'ly ol ltIt dli SWCringen issues was conspicuous. Missouri Pacific, Erie & Chesa- peake &, Ohio gained points or more. Other shares making similar gains included L. s. Steel. National Biscuit Westinghouse, Goodyear and Macy, while such shares as Ameri- can Can, Byers and Eastman rose 1 to ,, and Allied Chemical more than '. Montgomery Ward staged moderately.
 Leaders of the steel industry, at the institute meeting a year ago. were inclined to minimize the prob able effects of the decline in the stock market, and in steel mill op- crations, then apparent, but todays speakers demonstrated that faith in the future of the industry had not been impaired by the trying 12 months that have intervened. They found the basic structure still sound, and stated that by refraining from uneconomical price cutting, and over-eXpansion, the industry might struggle back to normalcy in q reasonably short time.
 Sees Steel Recovery
 James A. Farrell. president of L. $. Steel asserted that through CO., operation, the industry could get business back where it belongs in GO days.
 News from Brazil indicating that the revolution had been concluded with little bloodshed or property damage caused a fresh decline in coffee, as a reaction from the up- pectation5 of delayed shipments, but Brazilian securities rallied sharply, tending further to bolster speculative confidence
 The days news was not wholly cheerful. Directors of Montgomery Ward omitted the quarterly divi- dend, a development not unexpected. Wall street has looked for a reduc- ton, at least. Furthermore, copper prices were reduced fairly generally to 912 cents a pound, a new low for more than 30 years.
 Conference Rumored
 A constructive development ru- mored in copper trade circles, how ever, was an early conference with African producers seeking curtail- ment of production. The large red metal resources of that continent, mostly undeveloped, have caused some uneasiness. Reports of the conference of statisticians in indus try, meeting under the auspices of the industrial conference board, pointed to signs of recovery, but added "the first half of October gives little evidence that the con- Nalescent stage in the business cycle is at hand.'
 THE MARKET AT 2:OO-3:OO P. NJ.
 Total sales to 2:10 ?. m.-1, ,960,-