Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-07-28
STOCKS Stronger
IN TRADING TODAY
Steel and Motors Reflect
Earnings Reports in Rapid
Advances.
by STUART p. WEST.

Special Dispatch to The ssar.
NEW YORK. July 2S.--Two inn
portant developments in The over
night news. so far as their having
an effect upon speculative sentiment
was concerned. were publications OF
the earnings statements of the United
States Steel Corporation and General
Motors Corporation. In each instance
the result of the second quarter OPP
erations exceeded expectations OF the
saneuine, and Il was not surprising
that the recovery in the stock Market
which set in at the outset OF the Weeh
should have gained momentum
II was sometime after the opening
before Steel common made It's aP-
pearance on the tape. Then on "a
block of % 900 shares. the price opened
between 1897 and 1875. after whlch
i, was carried we'll across l4t, as
against Yesterdays final of l4o
No Surprise OecasiOned.
Declaration of only the regular
quarterly dividend at this time. toc'
casioned no surprise in Wall street
The best opinion was that If any dls-
,ribution of part CT the corporation ;
huge surplus is 10 be made TO sloch-
holders this action will come before
October.
General Motors report for first SIX
months oDeratiunS revealed net earn.
incs equal 10 $lI.33 a share on the
common stock. the largest net earn
ings in the history OF the otsaliiNd-
ton. This compared with SS'V1
share in the same period iaSl eai
General Motors went forward rapluiS :
establishing a new high record "ilen =
il crossed ia for d gain OF alilloSs =
noints on the day. It's strength han
= sympathetic effect upon the marker
for other motor shares, all or Wnlch
we're in better demand at somewhat
higher prices. .,..>d
The gain in Mack Trucks eXtehueo
CLOSE 10 points. HUDSON SUI uP
more than a point at one time J" -,
Dodoe brothers and Pierce Arrow
w-ere nm a half point TO point oe
fore the demand Subslded. Froile,
taking set in in the later trddllls CO.
was sufficient enough TO carry pI
down somewhat from the hlSh teNei'
but most of the Improvement was
maintained.
SpeciaIties Bid Up.
rba usual number Of industflai
oracialtieS we're brought up 10 the
front and in several instances old up
sbafDly. Their strength, hoWeVer'
again failed to have any materldl 81
feet upon the main body OF stoc ,,
There we're many parts OF the Asl
which continued to be neglected, y
Al hest moved forward only modetsat es
". The demand for Texas Gun Gun
snlnhur kept on, carrying the price
to a new high level, and freepoi'
Texas Joined in to some extent. Asi ue
from talk of a capitalization OF the
financial structure Of the former com
many. about which so much mas oesh
heard recently, many were eApectiii.s ~
sone sort of an extra distributor III
the near future. -,
New high records also were esseo,
IShed in Butterick, Consoiluaieo
1Tear and Loew, while Arnold Con-
stable. Dawson Chemical. CONNER
c,aI Solvents B and Remington We're
hid ND sharply. The coppers' uiueI
leadership of American Smelling anu
Anaconda. were rejecting the I'M
movement which has taken pace ~
The market for the copper metal ouI
some doubt was expressed as u
Thether the turn would be a lasting
one.