Evening star., 1926-05-26
STOCKS CONTINUE :"
SWINGING UPWARD
Rise More Emphatic in Some
Quarters Today-0iIs
and Steels Strong.
BY STUART p. WEST.


NEW YORK, May 26.-The upward
movement continued on the Stock EX-
change today. 1t was more emphatic
in certain quarters, such as the oils
and Steels. than ii had been on the
two preceding days.
Interest in the oils centered more
particularly on the shares of the com
panies where merger negotiations are
said to be pending. The steel shares
were helped by the midweek reviews.
which were rather more cheerful tina n
they have been for some time.
Among the oils. Atlantic Refining
was one of the most active. Marland
oil was another which attracted a
good deal of attention. The Street was
fun of gossip about a consolidation
of these two compa MES but there was
no confirmation from any authorita-
tive source. Other oil shares that
came in for considera BILE attention at
rising prices included General Aspha !,
Pan-American Petroleum class 'B, -
Standard Oil of California, Pure Oil
General Petroleum and California
Petroleum.
Steel Shares Stronger.
Steel shares were helped by the
more optimistic references in the mid
week review TO the outlook for the
steel industry and the advance Of 81 a
ton in steel bars by the United States
Steel Corporation. New bookings, 1t
was reported. continued 10 show I'M
provement over the April rate in fin
ished steel products, the United States.
Steel Corporation in the past week
running some 1000 tons a day ahead
rf the corresponding period last month.
United States Steel common opened
fractionally higher and was carried up
we'll over a point. Once the buying
sot under way in this issue it spread
10 the Independents and gains OF
point to three points were recorded in
Republic Iron & Steel, Gulf States and
SlosS Sheffield.
Central Leather issues were out
standing strong spots among indus
trial specialties. the preferred getting
10 So where it compared with the prev
iouS closing of 47l2. Buying of this
issue accompanied reports that under
the revised contemplated reorganiza-
'ion plan the preferred stock would
fare better than originally expected.
Some time ago it was reported that
under the original plan the preferred
would receive three eeQuarters of a share
of new preferred and one share of
common while the common would re-
reive share for share. Central Leather
common went along with the senior
stock. but the rise was not as pro
nounced.
Texas Land Trust Jumps.
Texas Land Trust had another of
It's characteristic sharp fluctuations.
changing hands at 920. S against the
previous closing of $50. There was
apparently nothing new 10 account for
the renewed up-swing. Because of the
fact that the stock is closely held and
there is very little outstanding. rise
of such magnitude in a h-priced
issue of this type means little to the
general public.
Railway shares continued TO re-
spond to the favorable showing both
in gross and net for April operations
which continued to come to hand to-
day. Special strength came into the
market for New York Central. Atchi
son and Missouri-Pacific preferred
while higher prices were reached in
Baltimore and Ohio and bash pre-
ferred "a Railway equipment of
the type of Baldwin Locomotive and
American Locomotive were carried
somewhat higher. but the advance
was not as pronounced as yesterday.