Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-01-22
WALL STREETl|ST
|SSTRONC At CLOSE
New Buying and Short Cover
inn Keep Values Near
) : Days Top.
BY ST. ART r. WEST.

NEN YORK. January The i'm
provement in the stock market
which ma infested itself early in the
DAY. continued up to the close, anc
final prices for the leaders were the
best Of the session. ST. Louls-Sar
Fra ncisco was the leader NJ the rails
end United States Steel ended the daH
at its high New buying came into
the oils. and short covering puShet
M the motors shares. especially Hud
son and General Motors. suhstan-
TALLY.
The rails were featured by sudder
outburst of strength in shares Of th'
coal carriers and by renewed huyins
in ST. Louis-San Francisco. In M
ease Of the former group buying was
based on expectations Of an immediate
Fettlement of the anthracite strike
following the announced intention =
renew negoti4 tons toward this en-,
al once St Louis-San Francisco wa:
bought IN anticipation Of importan
favorable developments at the meet
ing scheduled after the close Of I'M
stock market.
Euuipments Are Quiet.
The euuipments did little one way
or the other. hut where price changes
occurred they we're on the side of adj.
~ most of the session. American 10
comotive was dealt in around l12
compa red with the previous final Ills
and American Car and Foundry held
firm al 10. There remains little doubt
in the mind Of most people that with
freight traffic over the railroads con
tinuing the way it has been for the
past three months. this would eventu
ally he reflected in increased business
for equipment and locomotive and car
making companies.
The selling in United States Stee
common. which carried the price dowr
points Thursday. was not renewed
and some recovery took place from
the previous final. But the independ
ents were reluctant to follow as they
had on previous DAYS Of the week the
movement in United states Steel. snc
were neglected most If the session
Wall Street was looking foTwa Ri witt
optimism 70 the action ON the stee
dividend next Tuesday. when. man,
eNpect=d that something more THAI
tho usual extra quarterly - cont.
would be declared.
Sugar Stocks Slow IN.
The urvard movement in the su-al
stocks. 50 pronounced on he nreviou
day. We're not resumed. bur there Wa,
No. weakness. Motors we're qlietel
than thtv had been earlier in til,
week. with Hudson. General Motors
Chrysler and Hupp dealt in most o
the time around the previous closing
quotations Such active industrials A.
American Can and United States Rub
Der continued their recovery. but the,
failed to carry with them the genera
list.
Conflicting stories were being circu
lated today as to the Chara Cter of III
buying in Baldwin whenever the stool
showed signs of rallying. One reDor
hah it that A prominent automobil
n1agnate. reputed to be heavily loni
on the stock had decided % supper
his favorite and that his operation
were causing hurried covering b
short interests. In another quartz
the buying was attributed 10 interest
who were looking forward 10 favorabl
dividend news.
The increase in the credit suppl
was effective in bonds. but not notice
ably in stocks. The rise in the toe
market, where it occurred in ind
Vt1ual issues. was due 70 special cor
siderations rather than to anvthin
happening in the general situation
The main point was the same = s i ha
been for the last week. that thos
~ho made the big profits last yea
were ready 70 take Them wheneve
prices were bid up. They were not s
anxious 70 sell with the market eoin;
down. but on account of the prosrec
tive tax reduction they were willing 7
realize on favorable opportunities
Trading in Afternoon.
Rejecting the ease in none" til
United States Urea sury IL. 6 sold a
the highest in a number of months
This was one of the interesting fea
lures of the day. The wheat nlarke
dropped again. correcting the sDec1lla
tive excuses of a month aeo. cotto
kept moving within the same mario,
range.
The afternoon stock market wa
stronger. but still not at all active
The rails, especially the anthracite car
rlers and the steelS. were the leaders
United States Steel regained nearly a
the ground lost on the preceding day
MARKET CLOSES STRONG.