Evening star., 1926-09-24
SPEC|ALT|ESG GAIN
IN STOCK MARKET
Profit Taking Sales Are Felt.
Film Shares Score Big
Advances.
BY STUART p. WEST.
Special Dispatch to The StaE

NEW YORK, September 24.-Trad-
ing in the Stock Exchange today was
featured ny a sharp upward move
ment in shares Of the so-called- spe-
cialty issues. Advances in some in
stances were the sharpest that have
been experienced in many weeks, but
the upward movement was by no
means general.
While individual issues were brought
to the front and bid up spectacularly,
profit taking sales were making them
selves felt over good part Of the list,
but what offers occurred were incon-
sequential by comparison with ad-
vances elsewhere.
Maintenance of the New York Fed
eral Reserve re-discount rate at per
cent was followed by a reduction in
the call loan renewal rate from ~
per cent to per cent, but this could
hardly have been set down as the
cause for the better tone to the Stock
Exchange. Had this been the case it
would have been reflected in a general
buying movement in the main body of
stocks, whereas. on the other hand,
stocks which attracted most attention
We're those where special development
was thought to be pending.
Film Shares Higher.
Shares of motion picture companies
were bid up sharply, with Warner
Brothers Pictures changing hands at
one time points above yesterdays
final. Famous Players, FCx Film
class A and Pathe Exchange class A
went forward ympathetically, the
gains extending well over a point in
most instances. 1t was evident from
hn of ctno hof fa
sized short interest had been built up
on the recent reaction from the. high
prices, and once buying got under way
again this element hurried to get in
its outstanding contracts.
Advance Rumely issues came in for
considerable attention, running up
sharply to new high prices for the
year on intimation that a plan was
under consideration for some sort of
adjustment on Accommodations on the
preferred issues. Ac~ G5 the preferred
compared with last nights final of
80, while the common was actively
bought above the 81 level where it
was up 2 points on the day.
International Telephone was a fea-
ture of public utilities. responding
with a rise of some 5 points to publ
cation Of the favorable report for the
six months ended June 30 last. Or
eratiOns for the rise kept on in By
Products Coke, carrying the price up
almost points further in the face Of
Thursdays T-point rise.
General Asphalt Strong.
Among the oil shares General AS
phalt stood out strongly. although
there was nothing that was not al
ready known to account for the sharp
rise in this issue. Above 81, it com
pared with the previous closing of
S43., and its strength had a stimulat-
ing effect upon others of the oils. al
though gains in most instances were
confined within a point of Thursdays
final prices.
In the railway section roads in
volved in the proposed Greater Nickel
Plate merger continued in demand. al
though buying was not as pronounced
as ii had been recently. Pere Mar
quette went into new high ground
for all time. Nickel Plate took on
another point or more, while Chesa-
peake and Ohio was held in check by
profit taking. So far nothing definite
has come to hand concerning better
terms for the dissenting Chesapeake
and Ohio interests. but Wall Street
was expecting an announcement along
this line which would be considered
favorable