New Britain herald., 1930-09-02
Stock Market Appears Uncertain Of Itself as Trading Is Resumed
 After Triple Holidays Shutdown
List Turned Upward By Resumption of Profess sional Operations for Merchandising Share Advance.

New York. Sept. 2 [P>-The stock market appeared to be a little ur- certain Of itself, as trading was re- stunned today after the three-day shutdown. However, after absorp- ton of some profit taking during the morning, the list was turned up- ward by resumption of professional operations for the advance in select cd issues. embracing several of the merchandising shares.
 Trading showed few signs Of ac- celeration, despite inauguration of the high speed ticker system. and the advance appeared to be attract ing little following, but a slightly more optimistic tenor in the mer- cantile and trade reports appearing over the weekend gave the bulls some encouragement. Neverthc less, upward progress was not easy, for active traders were apparently willing to take small profits.
 Such shares as |. S. Steel, General Electric, Radio and American Can moved very narrowly, Several shares made substantial gains, however. Sears Roebuck, Associated Dry Goods, Warrington Pump. Auburn Auto, Allied Chemical American To- hacco R, International Business Ma chimes, North American, Union Pa cific, Missouri Pacific and American Car and Foundry gained 3 10 5. Shares selling up or more included Bethlehem Steel, A. NJ. Beyers. J. C. Jenney. Atlas Stores, Macy. Under wood Elliot, National Cash Register, and Warner Bros. Mack Truck gain cd about ? on declaration of the regular dividend, and Independent Oil gained as much in response to the merger with Phillips Petroleum. Gillette and Texas and Pacific were heavy.
 Push Several Issues
 Conservative weekly advices by several of the economic services may have tended 10 restrict public par ucipation in the market, but syndi- cate managers proceeded to bring forward several of their favorites. In addition 10 the merchandising issues. office equipment shares. and manu- facturing specialties were pushed forward.
 The Harvard Economic Society modified the outstandingly optimis- tic stand taken several weeks ago. Statistics for August probably mean. the society stated, that autumn business will not be as good as we have expected. but it does not mean that recovery will be much longer delayed"
 Trade and business surveys com ing to hand over the weekend stressed the signs of seasonal up- turn in retail trade. Several of the chain store issues appeared to be enjoying more aggressive market sponsorship. Republic Steel Corp. reported a better demand from the automotive trade, but manlo ctur- ing activity in the automobile cen- ters held at conservative levels.
 Rails Turn Up
 Rails and railway equipment; maintained the upward trend which appeared late last week. Better buy ing in the rails appears to be based on more optimistic attitude toward of dividend rates, in fiuenced by reports showing that several carriers were successfully reducing operating costs Some of the rail equipments also turned up- ward perhaps in short covering.
 In connection with a movement in Warrington Pump. rumors were again circulated in brokerage cir ole5 thatt he shares may be split up four for-one, but these were with cut confirmation.
 Office Equipement again turned upward, Strength in National Cash Register was coincdent with the is suance of 2 statement to sales forces by J. H. Rarringer, general manag- er, stating that business had turned International Business Ma chimes was again strong. Improve ment in f'l aign business had recent ly been reported by the manage ment
 Credit conditions remained vir- tually stationary. with call money holding at per cent. but bankers look for some slight frmness when the effects of the Sept. 1 settlements are felt toward the end of the week. THE MARKET AT 2:OO-3 zoo P. M.
 To tai sales to 2:10 p. m.-1. .33O,- 400 shares.