Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-08-23
GENERAL MOTORS
| LEADS STOCK RISE
List Moves Forward After
/ Irregular Start-Bear
Movement Fails.
BY STUART r. WEST.

cFefaaI Dispatch to The star.
NEW YORK, August 23.-The stock
market rallied today. afte- q veg fr
regular START. At the end OF the first
hour 'nitcd States Steel We off over
points. BY midday the loss had
been entirely made up. This was fair
j. typical Of what was happening
among the industrial leaders. Pro.
fcssional traders began by further eX-
pcrimenting with the selling side.
When this did not succeed they coy
cred in their contracts
In the afternoon General Motors
took the lead. but q large part o. the
market continued to hang fi.e. |.
could not have been said that there
was any increase in outside interes.
The situation appeared 20 he no diff
f"rcnt from what il has been for the
last two weeks. namely. compare
lively du'l proteSs.oNa! speculation.
There was no now over the week
end TO eNcrt an influence The few
stocks which moved forward were do
Ing 50 because TIE short account had
decided that il WAS advisable to close
our commitments. In Eases where
There was n" conside:a bic short in
terest prices varied vevi little.
Northwestern rails Mere a distinctly
strong feature. Northern Pacific
Y
and W"s very active. Great Northern
preferred was up point ana 80 was
Chicago Nor,hN oste rn. nicaGo Great
" estern preferred was IN demand al
higher prices. Canadian Pacific came
close 10 reaching its high fOr The year.
The strength in this group of stocks
reflected the feeling that 1925 would
he more prosperous year for the
Northwestern farmers. and this would
show in an inCrea Sed freight move.
ment.
The Street again WAS talking about
retirement of STANDARD Oil OF New
Jersey preferred. This had no par
fi"uldr effect upon the common en-
cept to promote somewhat larger
dealing. Genera! Asphalt crossed 90
Tor the first time this year and the
preferred, on account of its convert.
ile privilege. kept pace with the rise
Ian-AmeriCan 4. Philips Petroleum
and Sinclair Consolidated were All
higher.
In the speCialties section Lambert
Company was a leader getting up
We'll about 60, AS compared with sat
urday's final Of $50. The rise con-
tinued in International Paper. In
ternational Combustion WAS lid ur
over points on faNO able business
news. National Biscuit was M over
point.
The market WAS moderately strong
In the late afternoon under the old
time lead of General Motors and L.
r. steel. AS usual. once it started,
General Motors Went ahead rapidlX
The way Steel rallied impressed oh
servers with the fact that tho market
was getting consistent support when
ever il sold off. This support did not
seem t" he Of amy ORGANIZED nature:
hut rather was due to individual in
itiatiV< coming from people who be
ieNed that whatever may he done at
the next two quarterly meetings, the
asset value was there
The rise in General Motors carried
other members of the group along
with it-DuPont Hudson and Mack
Trucks.
Among tho rails Wabash was
feature. Rock Island was higher
again and 50 was Wheeling and Lake
Erie preferred. Missouri Pacific pre-
ferred was actively bought. getting
up 10 high figures. AtChi&nn was up
over two points from it's early low,