Show SHARES GO GOTO GOTo TO NEW NEN lOWS LOYIS and Signal Issues High In Stock Market I NEW EW YORK Aug Au 12 Hell y Heavy liquidation of the oil all shares nine of which sank to new low levIS levels for for or the year and extensive ac accumulation I cc- of the southern and southwestern estern carriers were ere the features of loday's today's Ir- Ir eular tock stock market General Gc 11 Signal soared nearly 30 points to t 81 broke to i 76 6 and hen rallied to Total sales eales approximated share OPENING I X Marked Irregularity character character- characterised eed ed the opening o of or today's tOdds stock stork market General Railway ay Signal Sll nal sensational feature opened five fie points higher at nd nd Airbrake and Danger and Aroostook mounted new high levels for the year Selling of ot the oils oil were ere resumed Mid Continent Mid lid Continent Petroleum dropping n St point and ond Pan American sag sag- sagging ging to a new low level le for the 1 RAIL nAIL SHARKS BOUGHT Heavy buying buying- of the railroad Hares ares ar a coincident with a n revival o 0 o merger and dividend rumor rumon r readied the list lIt and ond turned tho th tr r- Lin course of prices upward be be- before Lo before fore the session was I half an hour o rr a. a Wabash abash common and pre pre- pr were were- quickly run up over 2 points each to new peak prices ir I r the year and were followed d n nto no o new high ground by p J ake and Ohio and Frisco com corn n. n Good buying also tiO clope de l Southern Pacific and Rock nock T I and which are a e expected 0 o pe Cn I enter er- er a new n combine C Railway Hallway nail way Signal Ignal swiftly ex- ex I oded Its Us gain to 20 0 1 points by ouch InS InS' c Ai- Ai Aib bi 01 b il d e a extended Its lis gain aln to nearly x x points at 4 2 and Jewel I T a preferred soared S 8 points in itt r lection of the payment a of bark back t dividends dt Frank n G. G 0 ShattucK I tl I Havana ana Electric Davison Cheni- Cheni Chenin ChemI I n n General Baking and Coca Cac C C I cIa Cola all recorded arly t gains if f t. t to lo I 1 points Foreign exchanges I I opened t ened easy demand sterling rul rul- ruling ruling ing In around 85 4 16 7 and anol French ranes around cents cent OILS HARP I. JIlT HIT HI i iThe The fhe morning market was a two two- twoS t I Is s c ded affair bullish operations op in tn o othe tho the rails and selected j bring D b counteracted by the weak weak- n U 1 ss of the oils and the public title General Railway Signal SI ossed oss d General Electric in Its to higher territory selling a 19 as against a for the 1 but General Electric soon soo gained its Us supremacy by b- touch touch- touching ing rg a record high for all times tinus Oli O which W Is fractionally i II above aboc the e highest price ever quoted f before the segregation I of I Ic I IrIles c e electric I bond ea and share prop prop- rIles rles whito General Railway SIK- SIK cracked at on realizing Professional bear traders persist- persist persistently persistently persistently hammered the oil shares sharell both the Pan-American Pan issues Producers and Refiners and andS S S' andard Oil Oh of California all au I collapsing to new low tow levels le for forthe or orthe 1 the he year Establishment of new 25 15 high levels le by WestInghouse and anol Western estern Electrical Instrument was in anticipation of oC Increased earnings through the sale file ot of automatic train control devices Accumulation of or Wabash T r as believed elle 1 to be in expectation o I an early announcement nt regard regard- regarding ing mg merger plans for that road 10 1 Call all money renewed at 4 U I ir r I cent SELECTIVE BUYING More general I selling occurred when shen the liquidation in the oils carried carrie down nine different Issues to new minimum prices for the ear with Atlantic Refining losing 10 lx Ix points General Railway Hallway Sig SIg- Signal SIgnal nal slumped to and rebound rebound- rebounded ed to Maintenance of ot con con- consistent consistent consistent buying buln for some of ot the railroad shares Chesapeake Ohio climbing to a new record highs high for the year ear and the marking up of American Can Cats Canto Cano to o another new maximum figure together with strength In InFamous InFamous inFamous Famous Players White Motor and Reynolds Renolds Tobacco B n Illustrated the he selective e character of or the buy buy- ing inS The closing was steady stead Buy Buy- BuyIng BuyIng Ing orders were rere widely distributed In the last hour the oils respond respond- responding i ing briskly to short covering op operations op- op while the Erie Issues and Chesapeake Che ape t Ohio were vere taken In large lare blocks the last named touching a a. record high at |