New Britain herald., 1930-10-23
Prices of Shares Again On Road To Recovery On Stock Market
 But Progress Made Is Irregular
List Soon RecOvers Under Leadership of Utilities and Prominent Indus- trial Shares.


 prices once more took the road to recovery in today's stock market, but made irregular progress, as sev- eral of the rail shares found block signals turned against them.
 A break of points in Alleghany Corp. and declines of a point or two in Chesapeake Corp. Chesapeake and Ohio, and Nickel Plate were conspicuous in a. brief period of un- settlement during the morning. Pere Marquette, a thinly traded issue, dropped 20 points in few sales. The list soon recovered, however prominent industrials. Shares sell ing up to 5 included l.. $. Steel, American Can, Westinghouse Elec- tric, International Business Ma chimes, American Telephone, North American, Stone and Webster, At chison. American Tobacco R, Air Reduction, and Union Carbide. General Electric, Radio, Dupont, Sears, Woolworth. Loews and Un- derwood- Elliott gained or more. Trading was in light volume.
 In the rails, heaviness of the Van Sweringen group was notable. AL though Chesapeake S Ohio has maintained it's earnings this year better than most trunk lines. such lines as Pere Marquette, Nickel a to l,-in ,I I,-o al influenced by the slump in automo- bile manufacturing and slow steel mill operat:-ns. The stock of Ale ghany Corp, the holding company, has been depressed by the reduced asset value of it's holdings. Since some of these stocks have been put up as collateral against the Ale ghany Corp. bonds and Van Swerin- gen Corp. notes, there has been some nasty selling of those liens, although it is reported that ample collateral is being easily maintained.
 \. B. C. Bright Spot
 Third quarter earnings statements comprised the bulk of the days cor porate news, and were about in keeping with conservative expecta- tions. Deferred recovery in corpor- ate earnings has probably been re- sponsble for much of the down. ward readjustment of share prices. Some brokers are advising their customers that this readjustment seems to have been completed in many cases. Conspicuous in the days batch of statements was that of Du- Pont, which earned s1.05 share in share on a slightly smaller number of shares in the same period of 1929. Almost half this reduction. however, was due to lessened re- turns from it's General Motors in vestment. National Biscuit report was bright spot, showing s1.01 a share, as increased from S9 cents I year ago. calculated on the same number of shares.
 Although Wall street has been rather deaf of late to predictions of business recovery, optimistic an ayses presented by speakers at the annual conference of major indus tries at Chicago yesterday appeared to have been reassuring. Further more, Wall street expects speakers at the meeting of the American Iron and Steel Institute tomorrow to present a constructive outlook. With l.. s. Steel's quarterly state ment due next week, commission house statisticians are busy mak- ing forecasts, and generally. they look for about $2 a share. amply covering the S1.75 dividend. Per sons who were predicting an extra dividend of $1 short time ago, however, were less confident.
 Call money continued in abund- ant supply. at per cent, with large outside offerings and few takers at F. Bankers state that plentiful money may be expected al most indefinitely, on the basis ot the present outlook.
 THE, MARKET AT 2:0O-3:OO P. M.
 Total sales to 2:10 p. m.-2, ,1Q4,- Sh