Evening star., 1927-04-26
STOCKS HAVE RALLY
|NLATE DEALINGS
Short Covering and New Buy.
i ing Appears in Market in
Final Trading.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. April 26.-The mar
ket rallied today after the severe
break of Mondays session. Some
such movement was not unexpected,
in view of the extent of the decline,
and could not be taken as throwing
any real light on the future.
After the early selling had been alb
xorbed, coming largely from specue
lators whose margins had been i'm
haired. a combination of short cover
ing and new buying appeared, bring
ing about substantial recoverles in the
afternoon.
The old leaders were brought to the
front. General Motors, Atchison and
United States Steel. The equipments
we're taken up for time. with loco
motives in the place of prominence
t the same time there were numer-
Gus exceptions, most of them among
The rails or motors.
Selling in the rails was most active
"a shares Of those roads that serve the
"ood regions in the Mississippi Valley.
offerings of these stocks at times
',-ere heavy and prices gave way
easily.
Three Rails Most Affected.
St. Louis Southwestern. Missouri
:mong those most affected. All three
Erad been the objects of an enthusi-
tic bidding-up operation earlier in
.'le month. which made them pecu-
'2rly sensitive to the selling today.
'nck Island fell within this classified
m also. although it seemed to be bet
irr supported than the non-dividend
ayers. Such March earnings state
tNents as came to hand today were
tostly encouraging, but they were
s1t an influence in the railway share
arket, which was rather attempting
"a appraise the food damage.
The one exception to the weakness
~ railroad shares again was Della
re 6 Hudson. which rose to new
n for the movement as 1t crossed
!. Other seasoned high-grade invest
mt rails were fairly we'll supported
~aund yesterdays closing prices.
The situation with the oils was in
--resting. There was nothing en-
t1uraginG i'll the news. Domestic
production of crude for the week
led April % showed another in
case and there were more cuts IN
oline prices. No one ventured to
p odict that second-quarter income
tements would be anything but un-
-asant reading for stockholders.
"a the other hand. there was un-
! taxable support for Marland and
s.llips, the two oil stocks which had
IN the most persistently sold during
the long liquidation in this group.
hether this was merely a temporary
enomenon or whether it marked a
"a nge in attitude could not be said,
ga it was one of the most note
: srthy of the days developments.
Motor Shares Irregular.
The motor shares were highly IT.
ular. General Motors rallied briskly
The start, responding to the favor
results for the first three months
llished after the close Monday.
-ce-Arrow was very weak with
l the common and the preferred
,ing new lows for the year. Net
.ome for the first quarter was equal
only 43 cents a share on the pre-
red. The Dodge Bros. shares did
Z. aar.
/. S. Steel was inclined to rally,
most traders were waiting publi-
ON of the earnings statement after
close, as well as the official an
1uncement of the expected z per
>1t dividend rate on the new stock.
ma Locomotive was the leader OF
equipments, making a new high
the year. Trade advices were
~ hopeful as to the equipment
look and improvement in this
2rter was expected to benefit the
n and steel industry as well.