Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-03
TREND IS UPWARD
IN STOCK MARKET
Today's Recovery Regarded
as Natural Sequel to Re-
actions of Past 2 Days.
Special Dispatch TO The Star.

Special Dispatch TO The Star.
NEW YORK, March 3.--Recover;
which set in on the Stool
E,f1change today was looked upol
as natural sequel to the sharl
reaction of the past two days. IN
technical position of the market ma
been materially strengthened as r.
suit Of the recent liquidation, ana IN
manner in which the prominent III
dustriais rebounded was an indication
that recent offerings represented 10
the most part weak holdings.
Steel stocks played a promlhFn
mart in the resumption or the upWaI'
movement. Crucible Steel, up sharL
" to new high prices, was eVloeh'l.
bought in expectation that some o
.he good things heard for man.
months were likely to materlalZe II
the not distant future. Republlc 1rol
end Steel was another favorite, an'
the special operation in Colorado Fue
md iron. which was suspended yes
terday, was resumed. Above eo the
mice compared with the previous
final Of 90.
Wabash Rallies.
Wall Street had been expecting
regular IS basis for ST. Louls-oai
Francisco common The declaratiol
after the close yesterday or an eXtrs
% cents for the quarter was 'ahel
as disappointing by some, but the url
of,iciaI statement after the meeting
that the extra would be paid as Ions
as Rock Island continued 50 dlstrl
buttons. virtually meant So Tor the
stock. Wabash common rallied wei
across the 20 level. but the rails, as
group. while generally higher, were
without particular feature.
considerable attention was glver
over TO the motor shares. There was
obviously a good-sized short interes
in General Motors, which was anxious
to cover whenever the opportunity
presented itself. Under this support
ing influence the stock was more thar
n point higher most of the session
Hudson Motor responded readily u
an increased demand. while WHY'S
Overland was taken in large blocks
at new high prices for the year. Buy
ing of the last-named stock indicated
growing recognition of the beneflt:
the company now is deriving from
the successful offering Of the Whip
pet line. The sudden run-up in the
low.priced Kelly Springfield shares
evidently was the result of a poo
operation.
Stromberg Again Drops.
= New low prices Of the year fol-
Etromberg Carburetor, off another five
points in face of the decline of more
than IL points on the day preceding
was a response to the drastic cut 1r
the annual dividend rate. The action
of this stock had an unsettling in
fluence upon the market for other
motor accessories, notably Stewart
Warner Speedometer. At 63H, the
price was down over a point on the
day.
1t was difficult to obtain an adequate
explanation for the further SHARP
iunup in Commercial Solvents clas:
"B" which was accompanied by con
fiicting rumors concering extra divi
deds and stock split-ups. Genera
Railway Signal again established &
new top. Allied Chemical was bid III
across 40 again. New high prices
for National Lead followed report
that directors were considering re
capitalization plan whereby stock
holders were to benefit by specia
stock distribution.
When restrictions on trading wer,
removed a sale of 10000 shares wa!
made at 40N. a decline of 171a points
from the mornings opening quotation
but the next transaction was at {
rally of points and later sales were
made at 46. Shortly before trading
was resumed officials of the exchange
ruled that all stop loss orders no
previously executed became marke
orders.