Evening star., 1926-10-26
STOCKS IRREGULAR
/ IN TRADING TODAY
Market Awaiting Action of
U. S. Steel Directors at
Quarterly Meeting Today.
By STUART =. WEST.

NEW YORK, October 26.--With the
Goverpment crop report out OF the
way the Stock Market today fastened
its interest upon the proceedings III
the quarterly meeting OF the United
states Steel Corporation. This was
not scheduled until after the STOCK
Exchange was closed for the day. re
market was not looking for any
change in the dividend. nor was it al
ell concerned over the show OF earn.
ings for the third quarter. United
states Steel opened higher, fell OF "A
point, then rallied.
A good deal Of the activity cen
verged upon the Industrial shares'
many of them of the specially type.
Among the leaders We're the mail or
der stOcks-Montgo merry Ward ana
sears -Roebuck--both OF which were
very active and strong. Despite all
denials. the Street WAS inclined to be
lieve that there was a deal on between
these two companies. The thought
was that in this way econout:eS would
be Introduced which would offset any
falling off in business that might come
from less active conditions OF 2enerdl
business later on.
Other merchandise shares were
strong. May Department stores solo
at the highest under the present form
of Capitalization. and the r. II. Macy
stock was bid up. But there were nu'
.nerouS declines, also. Electric Ike
friCcration made new 10" Tor the
..ear, continuing the downward move
tnent which has recently been IN
progress MaCkay Go. broke Sharply
and despite the favorable statement
for the third quarter Radio Corpora
Evidently
earnings. which showed surplus
against the deficit a year age, mao
been discounted
Atrhison Was higher AZ the open
ing. but later reacted. Atlantic Coast
line had q further decline, Whlch was
attributed to the cotton SITUATION
',ialtinore and Ohio Was freely sup
1,iied after the advance OF MondaE.
chicago and Northwestern was lower
iaut Norfolk and Western was 1alriH
strong, anticipating faToraole NV
ejend action at today's meeting. FreSh
h,,ying came into Kansas city Sonlh'
~, at an advance II over q point.
The motor Eltur was not as actlFe
as II has been recently. With Monday,
,hort covering over. most or these
stocks went somewhat lower. Front
4aking continued III Timken Roller
Fearing.
A favorable impression was made
~, the steadinoss in oil shares in lace
OF the cutting Of gasoline prices on
the estimate Of crude oil production
larger than any in the past two ana
.ua-half Years In fact Mariand was
,,p a point and Atlantic Refining
Htandard Oil Of California and one OF
TWO others were higher.
Dividend paying rails had or!ei
vun-up in the afternoon, under the
load of Norfolk and Western. Lower
nriccd rails not on the dividend list
lid not do rs much. Most or the
,ootorS were heavy and realizing sales
we're apparent in early farOritcs Ike
.he mail order shares
The sugars had short-liVed rise
with special strength in South Porto
riCo Sugar and in American sugar
Estimates of the damage done 10 the
cuban crop by tn" recent hurricane
IRE large, and while they have not as
,-nl had much effect uron the sugar
market itself, they have been con
,,jderation III the stock market. There
las been a special leaning toward
stocks of companies outside OF Cupi
which stand 10 benefit by any price
advance without having to stand a
loss in their production