Evening star., 1926-01-18
WALL STREET LIST
/ IS FIRM AT CLOSE
Norfolk and Western in Sharp
Run-Up-LaCk of Def
mite Trend.
BN STU ART 4. WEST.
.al Dispatch to The star.

Spc'ldl IlSildt'jl w lbt s0Ah'-
NEW YORK. january lS.-Th'
stock market closed firm today. There
was no renewal of the selling move
meut which had carried prices doWr
last week. Prices in the general body
of stocks were little changed. y
sharp rise in Norfolk and Western
was an incident toward the end
otherwise the final market was du'I
ana not AT all interesting. with ht
general tendency either way
Short covering came into the mo.
tors rather freely. There was a soou
deal of buving of hudson by traders,
who reasoned that the stock had been
coming down pretty fast ana tha'
the fact that directors dtd not act on
auv extra dividend at last week
meeting mad been played up too much
by the bear side. There was more
of an inclination to look upon TINS
action as merely a poStponement
General Motors was up substantially:
NillvS Overland. which last week had
gone down more than points, re-
gained a point or more. 'hrySier
was up more than point ana the
selling OF Studebaker was checked.
Steel Very Quiet.
United States Steel common moved
within "A narrow range. AT times there
seemed to be some fresh buying and
short covering. The advance IN
American Can was probably due TO
the retreat of the short interest.
General Electric rallied easily and so
did Dupont.
Oil shares were irregular, but there
we're no signs of a renewal of specula-
tiun for the rise. Marland at one stage
was off noint but subsequently made
I'm its loss Pacific Oil was scarcely
changed and the special buying of AS
Sociated Oil. which had been fea-
lure at the close of last week, dld not
reappear.
United States Rubber was very
strong again, but other rubber shares
while steady. were not particularly
prominent. The explanation was the
United States Rubber, which produces
part of it's supply of raw material, was
in position to get the full beneht OF
the great rise in crude rubber prices.
Market Opinion Mixed.
Speculative opinion as TO the imme-
date future of the price movement
continued very much divided. One
prominent Broadway house was ad-
vising its clientele that the market
has not shown sufficient ability to
Withstand the general selling.
Another was advising its Gus
toners TO take advantage of any rally
to liquidate holdings. for indications
are that levels viii be materially
lower later in the week. Still an
other was looking for particularly
good buying in the railway group.
Notwithstanding the slight reac-
tionary tendency Of the crude rubber
market United States Rubber con-
tinued to reach higher levels on n
good sized demand. The better tone
TO the rubber and related shares last
week appeared to be for the most
part in response to the announced
intention of the formation of two
large rubber associations. but the de-
mand for United States Rubber COM
mon was said to be based on the
favorable earnings for 1928.
Late Afternoon Trading.
As the afternoon went on further
strength developed in the motors and
moved forward moderately and there
We're special buying movements in the
sulphur stocks and in the paper
shares. A good deal was said on the
subject of better conditions, from the
American standpoint, in the crude
rubber market, and some of the rub
her issues were in active demand.
The fact that 1t will take years before
the newly projected American pro-
ducerS of rubber in the Far East can
get results was overlooked.