Show d. d STOCKS AT NEVI HiGHS Rails and amI Industrials Set Set Records Grain Gra JI Men CU Buy V NEW YORK AUR Aug Au 2 By By The As As- Associated Press Resumption Resumption of ot the upward price movement in today's loday's stock market carried both the rail and Industrial averages overages to record high levels le more than 50 individual issues eclipsing their previous peak prices of the year The advance ad reached violent proportions in a 11 few Issues issue which are believed to harbor a large larg short hort Interest Timken Roller Bear Bear- Bearing BearIng Bearing ing soaring oaring nearly 17 points to 17 and Manhattan Electrical Supply near near- nearly nearly ly Ii 10 points to w Banks called about 1 In loans during the day but there op pared to be plenty of funds available at the renewal rate of 4 I per cent The Th There recent re ent reduction In bankers' bankers accept accept- acceptances acceptances ances following soon after the decrease In Kansas City federal reserve redis- redis rediscount redisCount count fount rat rats has arous d hopes In spec spec- speculative speculative quarters of cuts In iii other re reserve re- re resene reserve serve sene centers particularly those serving ing the agricultural tural regions RAILS ADVANCE AD Practically all of ot the high grade grad erader r ad and industrial stocks reached new high ground the list including U U. S. S Steel common General Motors General Electric American Tobacco American n Smelting Baldwin e tire Consolidated Gas Chrysler Mo Mo- Motors Motors Motors tors Hudson Motors Woolworth Wool At At- Atchison Atchison Atchison chison New York Central C Union an and Southern Pacific Southern Railway Canadian Pacific and Chesapeake L Ohio Chicago grain gr ln operators were re reported re- re report reported ported port d to be heavy buyers of ot TImken which sold as low as u 78 earlier in th the year Both Timken and nd Manhattan Electrical Supply has more mor than doubled in price this year fen fell Back sharply on profit taking The Th rapidity of the advance in these an another and other issues led Jed to cautionary advices by some ome of ot the larger commission houses who urged taking profit on the theory that the technical position of ot the market had been weakened MOTORS J STEEL UP The closing was strong General Genera Railway Signal Union Carbide U. U S S. Cast Iron Pipe Goodrich AmerIcan Smelting Crucible Steel and Cereal were foremost in the late up up- upward upward upward ward surge which also 2150 carried Gen Gen- General General Genera eral era Motors and U. U S S. Steel to higher levels Total sales approximated 2 2 1 shares I |