Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-02-25
WALL STREET LIST
LOWER At CLOSE
Steel and General Electric
Last-Hour Features-Radio
Shares Off.
BY STUART p. WEST.
IL al Disnatch To The Star.

SPECIAL Dlspatcn 10 Inc STAT
NEW YORK. February 25.-Prlce:
went lower again in the stock marker
this afternoon following a further
martial recovery in the early trading
Short covering put up some OF the
active induStrialS temporarily, but a.
soon as this element of support peter
ed out the market fell off again.
United States Steel dropped below
loS in the last half hour, ana the
break in General Electric. due to the
anticipation of disappointing action al
Fridays meeting, extended TO 4
points.
There was heavy selling of Radio
Corporation shares and an abrupt
drop i'll International Telephone and
Telegraph Weakness persisted il
high-priCed industrials. such as Coca
Cola, Sloss- Sheffield and Allied Chem
zeal. The market closed very un
settled.
Hudson Motors was one of the
leaders on the buying side. 1t was
simply a case of hope being revised
of a special stock dividend and pos
sibly other benefits to shareholders
which We're not realized at the last
directors meeting. Hudson had hello
up better than most other stocks on
Wednesday. II rose very easily 10
day.
Worry Over Gas Report.
The Street did not like the Con
solidated Gas report. After the rise
IN the stock above 104 the eXpecta'
ton had been mat the 1928 state
ment would make a showing that
would easily warrant an increased
dividend. Instead the surplus amount
ed TO $3.50 Il share. against STAT the
year before. The sharp break In the
stock indicated the belief that with
this falling off in surplus there was
better likelihood of the So dividend
being raised.
Further heavy selling in Atlanta
Birmingham and Atlantic carried the
stock down to 81 a share, as against
Wednesdays close of and Wednes
belief that there would be little Left
for stockholders after the Atlantic
Coast Line got through with the re
organization plan.
Coca Cola Again Breaks.
Coca Cola again broke on the idea
that people who were holding the stock
had sold short against their holdings
expecting to cover with the stocks now
owned by the Coca Cola International
American Wooden shares continued
their recovery and the tobacco stock:
were strong, especially United Cigal
Stores and Consolidated Cigar. Amer
lean Locomotive at 1O5 was up points
from its low of the previous day. There
was some short covering in Bethlehem
Steel and in Baldwin Locomotive. Sell
ing of F'leischmann appeared to be fol
lowing the annual report.
Outstanding Motor Shares.
While most of the motors were not
disposed TO do much. hudson and
Jordan stood out ConSpicuouSly. Buy
ing OF these two issues, however, ap-
peared to be for special reasons.
Opinion prevailed that t. short inter
est of unwarranted size had accumu-
lated, and that it was anxious to
cover whenever the opportunity pre-
scented itself. Commenting on the
outlook for the motor industry, one
prominent trade authority pointed
out that production was still running
ahead of consumption and that ~
per cent of the total January output
still remains unsold.
Public Utilities Sold.
The stock market went lower in
the afteroon. There had not been
anything to encourage continuance OF
the early upturn outside of the fact
that a short interest had accumulated.
When the demand for short account
had been satisfied prices slipped off.
There was a sharp break in General
Electric on the idea that at Friday S
meeting the favorable anticipations
regarding dividend action might not
be realized
Some of the public utilities which
had been so strong in the recent trad
ing were actively sold, among these
Consolidated Gas. because the annual
report did not by any means come
up to expectations.