Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-03
STOCK LIST SCARS
I,1)IN WAVE OF BUYING
>. General Motors Again Leads
,ncisa
I Z Upward SWeep-Steel
.ss1sss Also Advances.
BY STUART p. WEST.
nal Dispatch 10 The Star.

Special Dispatch TO The Star.
NEW YORK, August 3.--In one of
the most spectacular markets Wall
Street has experienced this year. in
tiustrial stocks were swept forward
today, many to The highest prices
they have ever sold. The outstanding
incident of the entire proceedings was
which has furnished the sensation all
through the upward movement.
The highly optimistic statement at.
stributed to Thomas Cochran, a part
ner of ]. =. Morgan and Co, con-
corning the outlook for the corpora
ton and what could be expected of
the market for the stock was all that
was needed to encourage further
operations for the rise. General Mo-
tors left off last night at 20l 1t
opened four points higher today and
on an enormous volume of trading
was swept forward across 2l1 before
reaction set in.
Influence on Group.
The great strength of General Mo-
tors acted as an influence upon others
of the group, all of which were car.
ried forward for substantial gains.
Dupont, because of its holding of the
former stock moved upward sym
pathetically. Hudson Motors was car
ried across 10, but broke rather
sharply after having exceeded this
figure. The gain in Mack Trucks ex-
pended more than , points, Yellow
Truck and Coach because of its affili.
alton with General Motors rose spec.
tacularly to the highest prices so far
reached, and operations for the rise
were active in Pierce Arrow, WHY'S
Overland and White Motors
But the motor stocks by no means
absorbed all the attention. At the
same time that this group was rising
sharply, enormous buying orders were
coming into the market for United
States Steel common and other recent
favorites
At midday a block of $500 shares
OF Steel common changed hands at
loo, which represented the highest
prices at which the stock has sold
Youngstown Sheet and Tube was
looked upon as the best of the indie
pendents. At 93Ts it established a new
high for the year. and compared with
the Monday final of S9% Crucible
Steel. Republic and United States Cast
Iron Pipe also bore their share in the
Improvement
Allied Chemical Feature.
1t was evident, from the action of
the industrial shares generally that
the speculative element was paving
more attention than it had heretofore
to the optimistic statement coming
from prominent quarter concerning
the outlook for the future. Shares of
companies whose earnings are favor
able and stocks in which special de-
velopments are thought to be pending
were in urgent demand, and little dis.
position was shown to fight the ad.
vance.
There appeared to be no top for Al
lied Chemical. At 1411a it was carried
up points on the day, and within a
, traction of its best figure reached on
the recent upturn. Texas Gulf Sui.
phur, which had been held in check
recently by proflt-taking shot across
11012. American Safety Razor estab-
hshed new high record around 81,
the equipments, under leadership of
American Brake Shoe and Baldwin
Locomotive. rose sharply, while cop.
per and smelling shares came in for
more attention
AS the session progressed the ex-
element Quilted down, and in the
afternoon trading assumed a normal
character. Some of the leaders
among the industrials came off from
the best prices, but the declines
We're slight. L. S. Cast Iron Pipe
was given a whirl, the rise extend
ing points. u. S. Steel common
sold at its highest prices in the late
afternoon