New Britain herald., 1930-04-08
Extreme Nervousness Reflected
 In Erratic Market Price Levels;
 Advance Spectators Have Edge
Disturbing Business News Unsettles List-Trading Shows Moderate De- crease in Volume - Call Money Again Drops.

New ork, April . P-EXtreme nervousness of professional traders was reflected in highly cratic price movements in today's stock market, although speculators for the advance appeared to retain the advantage. Trading showed moderate falling off in volume, with fewer large blocks appearing on the tape. The ticker kept fairly well abreast of the market in the carly trading.
 News Not Encouraging
 Business news was not very en- couraging. Steel Ingot output in March was the lowest of any similar month since 1925, prices are at new low levels and decrease in the un- filled orders of the United States Steel Corporation is expected Thurs Railroad told stockholders that busi- ness conditions were such that he | could not forecast when dividends on | the common stock would be inaugu- rated. Increasing doubt over the abil- ity of copper producers to maintain the IS cents q pound price for the red metal is apparent. The Standard Oil of New York announced an in- 1 crease in gasoline prices in it's terri tory, coincident with reports of l another decrease in the daily aver age of crude oil production last week.
 Call money renewed at 4 per cent, | l. T t1 n hh early afternoon when d large sup ply of funds appeared.
 Fear Technical Reaction
 Much of today's selling was in- spired by the growing belief that the market was entitled to at least technical reaction after its recent ad- vance. However. the repeated et- forts of bear traders to catch the top have proved expensive. United 1 Aircraft, for instance. sold up to a new high at 9S IA, broke to 9o un- der the weight of heavy selling for 1 both accounts, and then ran up to another new high at 99. American Telephone sold off 1 points on a denial of rumors that capital stock split up or 8 distribution of its l western electric holdings was con- l templatcd, but quickly recovered its less. Peoples Gas dropped 7l2 points 10 3o5. and snapped back to
 S15.
 Vanadium sold down points to 11O 1-2, and rebounded to 117. Sim liar recoveries took place in Worth ington Pump, and a number of oth- CT specialties.
 U. $. Steel Under Pressure
 U. $. Steel common appeared to
 be under rather steady selling pres sure. yielding about ? points. Re viyal of activity and strength in ] General Motors, which crossed 52 l to a new high for the year, was
 based on reports that the Fisher interests were again active in the 1 stock, and that it was pointed for higher levels. Yellow Truck advanc- ed to a new high in sympathy. Foster Wheeler preferred scared 10 points to a new high at 210. Among the many other issues to | lSdSiL ilCn iii6ii 6i iOOiiA hNlS INoNlO~ Keith h-Orpheum which crossed A on a heavy turnover; American Can, Tjmken Roller Bearing, Corn Prod ucts, Stone 65 Webster, Raybestos. Shubert Theaters, Best & Co.,, and National Air Transport.
 A brisk demand for the Chicago Great Western Issues, based on re- ports that the Joyce interests are now in control. featured the rail- l road group.
 Some of the early soft spots were Allied Chemical, U. S. Freight, American Machine & Foundry, Youngstown Sheet & Tube, Ameri- can Tobacco "B" and Simmons Co.