Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-04
WALL STREET LIST
STRONG At CLOSE
Leading Stocks Maintain
Their Rise Well in After
noon Trading.
BY STUART L. WEST.
-.,i.l Dispatch to The star.

Specs! Dispatch to The Star.
MEM YORK February i.-IodaN :
stock market completely disregardeu
the rise III the call money rate To =
per cent which was considered as uue
10 merely passing causes. me liluuS
trial list for the most part. was strong
1hroughout, So were the New YORK
fractions. certain Of the SUGARS aiiu
oils, the leading motors, and one or
TWO of the rails The stocks chosen
for leaders hip maintained their rise
very we'll and closed around their best
prices
Associated Oil at the start did no;
pay so much attention TO reports that
the price of $50 a share had been re-
fused But the stock jumped forward
quickly when. around noon, the story
came out that the Tidewater Oh haa
bid $50. not only for the controlling
interest. but for all the minority hoid-
ings that might he turned in. This bid,
according to accounts. was accepted.
Pacific Oil shares were very strong.
In fact. this was regarded as Simply
the latest chantcr in the deal Which
began with the Standard Oil Pacific
Oil merger.
Motors in Lively Demand.
The motor group was for time
VERY much III demand. General MO
tors sold above 1870 for the first time.
Hudson Motor, at its top Of the day
was back over half the ground lost
between last months high and the
low Of the subsequent reaction. me
rise aIso took in Jordan Motors. " mite
Motor and Mack Trucks
Fisher BODY was actively bought on
the way up. Nash had another sen
s,!tional leap. ON top of ednesday
APPOINT rise the stock opened up -
nointe and rose altogether over loo
points from the low of the DAY pre-
Ceiin@.
\av- hj..hs were made in the New
York Fractions. luterhoro Transit.
Third Avenue and Manhattan Flee
tric modified guaranteed. The street
found il hard any longer to explain
such IN extensive and well sustained
advance on the ground OF mere
speculative movement.
II began 10 look to some observers
more ana more as if an increased rare
was by no means out Of the question,
DESPITE the fact that il the last cam
pa!gn all sides were opposed to II.
sugar Shares Strong.
The demand continued keen III
some of the shares American sugar
was bouSht on the idea that the dlVl-
1end of 81 & share would be raised
within the course of the year. Cuban
Cane Sugar preferred made new
high. and Guantanamo sold above u,
as against 81 Wednesday morning.
Conner prices. for the second day
IN succession, We're advanced an
eighth Of q cent 4 pound. This led
TO some buying in American Smelt-
In Anaconda and kennecott.
Remington Typewriter, which has
been an outstanding feature among
snecialtiess for the past week, felt the
effect of prOfit-taking for a time. but
after this had been absorbed the stock
continued TO show signs of accumu-
lation. Net income on the common
stock is running at the rate OF over
500 a share. II is expected that, by
gradual retirement of the first pre-
ferred stock, this issue will eventually
he eliminated and the resumption of
dividends on the common may be eX-
pected.
Time Money Unchanged.
Time money was unchanged. which
was a further reason for not at
taching Importance to the advance
in call money. Between S25.ooo.oOo
and $50. 100000 was drawn in from
the local market. probably TO build
in last SATURDAYS bank statement.
IN order to obtain fresh accommoda-
tlon, Wall Street borrowers had to
pa higher. But. of course. there
was no real reduction in the avail
able money supply.
Steel Stocks Higher at Close.
Steel stocks in the late afternoon
We're among the leaders and this had
q TeaSSlITiDg effect uDon the rest of
the market. Cotton drew out a bit
from its rUt and had fairly substan-
tial advance. bn the other hand
wheat ard corn We're lower. The
principal interest. however. continued
10 center upon the stock trading.
There were further remarkable adj
vances in the last hour in the high
priced induSrialS. some of the oils
picked up quite u bit and the trac-
tons held we'll mp to the top. The
rails did little.