Evening star., 1926-12-07
BULLS HOLD SWAY
lin STOCK MARKET
t..
Public Support Is Still Small,
!. But Several Issues Hit
I. New Top Marks.
BY STUART =. WEST.

Special Dispatch to The Star.
NEW YORK, December IA mum
Der of high records for the year were
made in today's market, but the char
acteristics of the trading were the
same as they have been right along
Professional operators were WORKING
mainly on the side OF advances mos'
of the time. because it was manifestly
the more promising side. But 1t was
still apparent that pubic support was
small.
The principal gains, as usual, oc
CURED in the stocks in which outside
interest was small Whether or not
ON account of the disclosure OF fur-
ther increase in brokerage loans, cail
money renewals were marked up from
Al. to 5 per cent. This advance was
not expected, as it was supposed, on
the contrary, that as the funds IN
Volved in the December l settlement
returned to the market rates would go
back and stay back where they were
before.
Had money changes at any stage
been a, factor of importance in stock
exchange fluctuations. today's devel-
opments in this quarter would nave
counted. As it was, they had none
at all. 1t was natural to refer tne
strength in the greater part OF the
list to the Presidents message. 1t
was, of course, the sort OF reading
Which pleased the investment comrnu-
nifty and business interests generally.
But there was nothing at all new
nothing which had not been looked
for.
FAX reduction, railway cOnSollda-
nous, maintenance of tarlff-theSe,
The main features of the message,
were simply reiterating the well
known administration program.
Sentimentally, the Presidents rec
concentrations helped the market; of
this there was little doubt. But there
was no difference in the trading be-
fore and after Wall Street had
chance to read what the President had
TO say. United Cigar Stores and
Schulte Retail had evidently by no
means discounted the alliance eStab-
lished between the two companies.
ftKer details of which were given out
This morning. United Cigar Stores,
which had closed Monday at 97A, ran
across par. Tobacco Products were
sympathetically strong.
Among the stocks which bettered
their previous top for 1925 were In
ternational Harvester, United States
Industrial Alcohol. Electric Boat, Col
Iins & Aikman commond and preferred,
Otis Elevator and Eureka Vacuum
Cleaner. Oil-shares were doing compar-
etigely little. In the sugar group South
Porto Rico, at one time. was up again.
General Motors was bought more con-
sistently as the price advanced. Tim
kin Roller Bearing had a sharp rise,
part of which was aScribed to the
covering in of the short interest.
Mack Truck, the regular dividends on
which were declared, was in some
demand.
Steel shares had been holding back
all through the early trading, but as
the afternoon went on they swung
forward again under the lead of
United States Steel. Buying of the
latter was founded on preliminary
estimates that the untitled tonnage
statement, due Friday, would show
an increase possibly as much as 10O,-
900 tons Crucible Steel and Colorado
Fuel and Iron were actively bought
also.
United States Cast Iron Pipe, NOV
ing, as is quite customary, with the
steel group, had an abrupt jump. In
terests back of the former movement
in the stock were given the credit
for the recent rise. They were sup
posed to be operating upon predic-
tons that the company would have
the-best yield in its history this year.
considering the drop in copper to
the-loweSt prices of the year, the cop
per shares held. remarkably steady,
with Anaconda regaining half point
lost, and Kennecott unchanged around
50. American Smelting's rise was
checked.
During the greater part of the ses-
sion railway shares were comparative
ly neglected. Atchison and Chesa-
peake & Ohio were higher, but most
Of the group were substantially the
same.
Corn Products was one of the stocks
actively bought in the late dealings.