Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-10
BROAD ADVANCES
IN STOCKS TODAY
american Can and General
: Electric Are Leaders.
: Food Shares Weak.
Ry STUART =. WEST.

Arecial DISPATCH TO The Sta.
NEW YORK. February 10. H1@n'
priced industrials We're the n'c tee
lure in the stock marker today
General Elective had q sensation
brnp Of some 10 points. halt of II "'-
curing on the first few sales. IL Is
sxpected that the LONE waited capi-
tai split1In will lie announced Al me
directors meeting February %. ne
latest estimate is that the ran" VIZ
"a s 10 new stock in exchange 10,
aid American can shares continued
their rise. showing that wan street
was not fully prepared Tor me r.
yr,arkahle earnings statement ph' "uu
Tuesdav. or for the announcement OF
q hundred per cent STOCK "'S''i'"'i'"
On the new common.
Rise Reaches Other Issues.
r,he hip rise in General Electric ana
American can started lhlnsS So',S
again in other high priced lnohS ria -
The new high record for Allied hehi
t.al vas esra bIished on buying. which
was looking forward Ia the annna
reoort due shortly now. Ame"lcH u
Smelling was very strong on the ldea
that the leading interests IN TINS
country were actively concerned IN
fh. new export orga niZarion. Genera
Cigars was hid up and so were ON :
,nercial Solvents Founda ton 60. ana
Eloss- Sheffield.
Maria nd OIL was NOT immeolalelN re
sponsive TO the remarkable report TOT
1925. which showed that on me ih'
creased capital. sS3S share was
earned as against only - cents on the
lower Capital of 1929. Union OIL OF
california was strong and Pacln" phl
was somewhat higher. California re
troleum got up 10 a new nigh TOT me
wear above 49, but subsequently reli
svav. Reports thai The company was
going into new combination IN the
California field were not denied. out
they were not confirmed.
Merger Stocks Advance.
Interest was revived in the so-calied
yoree Railway merger by the story
that the recent buying OF Missouri
kansas-Texas had come from that
quarter. Delaware and Hudson was
the strongest railway stock on the
list. There was active buying IN tne
Erie issues and Baltimore and Ohio
was higher New York Central. at
one time. was up around point.
Ward Baking b was down some
1S points from where it was selling
st the close Of last week. California
Packing was OF more than 33 points
from it's top. and Postum Cereal at
one stage was 20 points lower than a
week ago.
Commenting upon the immediate M
ture tendency of the general body oil
stocks and the present action of the
market. most of the leading houses
were decidedly optimistic. One called
attention to what it considered par
ticularly good buying in the copper
stocks" and added that there were
possibilities of increa sed dividends Ill
around. particularly II kennecott
should lead the way.
Leather shares Strong.
Several reasons We're advanced for
the recent buying AT improved prices
Of Central Leather issues. One report
had II the merger negotiation were
under way involving this and several
other prominent leather companies.
Others in close touch with the
feather situation pointed out that the
recent weakness in the hide markets
was not a bearish factor so far as
Central Leather is concerned. heca use
there have been no recessions in I'm
fshed leather.
Money conditions were plainly cas-
ing. The renewal rate on call loans
was again fixed at 512 per cent. but
new money was quoted later on at 8,
with still lower terms offered in the
outside market.
Meanwhile time loans. that is loa ms
for fixed dates. remained as they have
been for the last few weeks. wit h
Al per cent hid and Az asked.