New Britain herald., 1930-12-23
Secondary Selling Furry Drops In Today's Stock Market as List
 Registers Substantial Recovery
Most Pivotal Shares At- tract Considerable Buy ing at Few Points Above Resistance Level.

NeW 1OFk, Dec. 23 p-Ihe furry of secondary selling abated in to- days stock market, and the list made substantial recovery, with the rail issues again providing leader ship.
 Most Of the pivotal shares attract ed substantial buying a few points above their previous resistance lev els but trading was inclined to slacken on the recovery, as pre- | holiday influences normally tend to restrict speculative activity. There were numerous losses of 1 to , points in the morning, but they were mostly cancelled, and replaced by advances of l 10 by early after noon. In the pivotal shares, General Electric was virtually the only issue 10 duplicate the years low. It sag ged a point to 4 t-4, then recover ed. Such issues as L. s. Steel, Con- solidated Gas, American Smelling, Union Carbide, Illinois Central, and Northern Pacofiic showed net gains of a point or more, and issues up and included American Tele- phone, American Tobacco B, Atchi- son, Union Pacific, Eastman, Air Reduction and New York Central. Auburn dropped 3. then rallied near ly nine from the bottom. Case re- covered most of q ) point loss.
 Store Business Good
 Preliminary reports of the volume or late holiday retail trade are too scattering to be particularly con- elusive, but several department stores have experienced the best buying of the season at the start of this week, and over the week end wholesalers received several rush orders of fill-in character. Many organizations expect their volume will come within at least striking distance of last year.
 Heavy industry is coming under the influence of the holiday and year-end inventory period. The Ford Motor Company has virtually shut down until January ,, and steel mill operations are slackening.
 Iron Age" publishing it's weekly review of the iron and steel indus try day early, said that ingot out put had been reduced from 3S to 35 per cent Of capacity, and might get down to 25 per cent during the year. end shut downs, This has been ex- pected, however, and the trade is more interested in bookings for January which have appeared in volume as to make fair accelera- tion Of activity practically assured.
 Iron Age" says one producer has experienced gain Of 30 per cent in orders this month, over No- vember. Railroads are in the mar ket for equipment requirements. Pennsylvania is planning to order 15Q,00O tons of rails, and 70 take an option on 50,000 tons more, and New York Central will soon distri- bute orders for 10000 tons.
 Copper Price Raised
 As foreshadowed by yesterdays developments in copper, the copper export association raised its price rom lU.ob 10 IU,01 cents pOun1. c. l, F. European base ports, and foreign sales continued in fair vol umc, approXimating 4,000,00o tons this morning. Non-ferrous metal markets in London, however, were generally soft, bar silver losing much of yesterdays gain. The pe- troleum situation failed to brighten, Standard of New York cutting gaso- line prices in the New York area.
 Call money was fairly firm at 2 per cent, but was not expected to exceed that figure. The government overhaul in connection with its quarterly financing has now bcen sharply reduced, taking substantial sums out of the market. Further. more, holiday currency demands and other year-end requirements are now being felt
 THE MARKET AT 2:00-2:4o P. NJ.
 Total sales to 2:10 p. m.-2 ,Q01.- 0