Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-06-25
DEALINGS Tighten
ON STOCK MARKET
Leaders Show Ability to Gain
More Ground, but Some
Others Sag.
BY GEORGE T. HUGHES.
Special Dispatch TO The Star.


NEW YORK. June 25.--The week
closed on the Stock Exchange with
the leaders of the list again showing
their ability to make further head
way on the side of advance. 1t was
q typical Saturday market, however.
with the outside public displaying
little interest in the proceedings and
trading for the most part was pro-
fessional in character. The volume
of business, as has been the custom
during the past few days, again Tell
off appreciably.
The prominent industrials like Cen
eral Motors. Colorado Fuel Il Iron
and Baldwin Locomotive assumed
leadership on the side of advance.
But the market had reached the stage
where operations for the rise in these
stocks no longer acted as an influence
upon speculative sentiment and where
buying came into other parts OF the
list it was noticeably discriminating.
Baldwin, reaching 232, was at new
high record for all time.
Covering i'm Buying.
No doubt the greater part of the
buying in this issue represented the
covering-in of short contracts by
those who were willing to admit the
folly of staying short of an issue
where the floating supply had been
reduced almost to a minimum.
So much has been heard about new
incoming business for General Railway
Signal and what this eventually Is 10
mean in the matter of earnings that 1t
was not surprising that the stock
should have made further response to
Sx1a ArFnCG
it also was at it's highest on the pres.
ent form of capitalization.
General Motors was bid up across
200, Hudson felt the effects of further
short covering, Mack Trucks was high
er most of the time and White Motors
made further recovery following the
recent slump. The special operation
which has been in progress for the
past few days in Adams Express kept
on carrying it to fresh top for the
year and the highest since 1912, and
further talk was heard regarding a
liquidating distribution for common
share owners later in the year.
Some Shares Under Pressure.
But while these selected leaders
were giving a good account of them
selves there were others which APP
peared under distinct pressure. This
was true of several of the coppers and
numerous members of the oil group.
Anaconda below AZ established a new
low for 1927. The selling evidently
was a reflection of apprehension over
the action to be taken on the dividend
early next week. Because of the un-
favorable statistical position of the
metal and prevailing low prices it was
felt that the copper companies were
not faring as well as had been pre-
viously anticipated. Greene Cananea,
of which the Anaconda owns over
$4,000 shares, lost 3 points to 80.
Marland and Phillips were freely Of
fered at new low prices for the year
and Standard of California was under
pressure.
Railway shares moved irregularly.
Lower prices were the rule for most
of the Southwestern issues, although
Kansas City Southern was fractional
ly higher. Western Maryland had an
other of it's characteristic upturns,
and special operations kept on in
Western Pacific. Chicago and Eastern
, Illinois preferred at 60 compared with
yesterdays final of So.
The market left off with little
change in the character of the trading
The early leaders maintained most of
the improvement. United States Steel
was only fractionally changed
throughout, but was inclined toward
higher prices. General Motors lost
practically all the early gain, but it
was an exception among the issues Sc
lected for leadership.