Douglas daily dispatch., 1926-10-27
STOCK PRICES LACK
UNIFORMITY TUESDAY
In A QUIET MARKET
(By The Associated Press)
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Total stock sales, 1,112,600 shares.

NEW YORK, Oct 26. = Up - Stock
prices lacked uniformity in today's
quiet stock market, due to rather
general disposition on the part of trad
ers 10 await the outcome of Important.
directors meetings after the close.
Prices drifted lower during the morn
ing, stiffened in the early afternoon
when a brisk demand developed for
some of thehigh grade railroad shares,
and turned irregular towards the close.
Directors of the United States Steel
corporation declared the regular quar-
terly dividend of $1.T5 on the common,
setting at rest rumors of cash extra
of SO or a possible stock Spllt-up Net
income for the third quarter totaled
S52,626S26, as compared with $47S14,-
1O5 in the preceding quarter and $42,-
4OO,412 in the third quarter of 1925.
The General Motors corporation show
ed net earnings of rthe nine months
this year, including the corporations
equity in subsidiary companies, of
.$14e, ,317, ,55S, compared with $SO,921,O1S
rate Of SHIFT a share on the outstand-
ing common stock. U. S. Steel COM
mon closed unchanged at 1874 after
fluctuating between 1877 and 1883, and
General Motors showed a net gain OF
half at 1461s after having sold be-
tween 144 and 147R.
Rails displayed slightly better un-
dertone than the industrials, due to
the publication of a series of unusually
favorable September earnings state
nents by Union Pacific, Rock Island
and Chesapeake & Ohio, and the Della
ware &, Hudson stockholders approval
of plan for separating the transpor-
tation properties. The advance In
Pennsylvania to within fraction OF
the years high was accompanied by
rumors of possible increase in the
annual. dividend at tomorrow's meeting
of the board
At no time was there any concerted
selling pressure against the market
although about dozen issues sagged
to new 1926 low prices. The list
include International Agricultural
Chemical common and preferred, Mack
Trucks Mackay Company, National
Cash Register, Worthington Pump "B"
U. S. Smelling preferred and Electric
Refrigeration
On the other hand, new peak prices
were registered by May Department
stores, Gotham Silk Hosiery (new),
1lkhorn Coal and Columbia Gas Certif-
icates.
BY Products Coke jumped eight
points in sudden outburst of buying
lust before the close. Montgomery
Ward and Sears -Roebuck were active
and strong despite official denials of
contemplated merger of those two
companies. Timken Roller Bearing,
recent strong spot, fell back over three
points on realizing and short selling.
With brokers' loans reduced over
$3.50. OOO. 900 in the last two weeks and
no appreciable increase in commercial
borrowing, call money was in liberal
supply, although the rate was main
tanned at 41a per cent. The time money
rates softened slightly, 60 to 80 day
loans being quoted at Az to per cent
instead of on a flat per cent basis
Commercial paper rates were un-
changed.
Inauguration of trading in the new
Belgian unit of currency known as the
belga, which is equivalent to five Bel
gian francs featured the foreign eX-
change market. Opening quotations
were around 1890 to 1891 cents, or
lust five tirAes the "pegged" rate of
2.7S cents on the old franc. Demand
sterling ruled around $4.S4H, which is
close to the gold import point.
French francs were firm above 3O5
cents, and Norwegian kroner rallied 20
n0intS to above 25 cents. &t
The principal commodity markets
lost ground. Active cotton futures