Evening star., 1927-04-08
RAIL SHARES GAIN,
Il |NDUSTR|ALS SAG
Many High Records Are Set.
k Motors Show Advances
I..s in Today'S Session.
BY GEORGE I. HUGHES.

special Dispatch TO The Star.
NEW YORK, April S.-The stock
market again was a two-sided affair
today. Railroad shares were strong,
all the recent favorites holding their
| gains and new ones coming to the
Afront. Numerous new high records
awere set up not only for the year, but
dior a decade or more.
y Most Of the motor shares We're
higher.
/ On the other hand. acute weakness
developed in the packing stocks and
many other industrials were under
pressure from time to time.
: The leaders in the railway group
today were Baltimore & Ohio and
Southern Pacific, both at new tops.
Each is paying s6 share with a
reasonable expectation Of the dis
bursement being raised to 81.
y n. Y. C. Shares Strong.
y Baltimore & Ohio, however, shows
larger earnings per share Of the two.
New York Central, which was so con-
sSpicuously in demand on the day
before, not only held its gain, but
pushed ahead to the best since 1906 as
It crossed Isl.
:, A noteworthy feature bout the rise
in New York Central was the COM
paratively small effect that profit
taking sales had on the price. It
again was evident that the buying
in this stock was coming from sources
sure of their position. Most of the
SStocks representing the Southern
%roads did better today. Louisville &
SNashville was the feature at prac-
Ntically its high for the year, but
Southern Railway was in demand for
a time also. A little later the North
western roads were taken up under
the lead of Chicago and Northwestern.
That investment requirements were
back of the buying in the rails had
been plain all along. The same sort
of accumulation was witnessed in the
utilities today as we'll. American
Water Works and Electric was taken
in volume, with the quotation eventual
ly crossing its previous top. Montana
Power. Columbia Gas, North Amer
lean and Standard Gas and Electric
followed along more or less. These
stocks proved comparatively easy to
move and offerings seemed TO be
smaller as the quotations moved up
ward.
Motors Are Irregular.
There was more irregularity with
the motors, although the majority of
the changes were on the side of ad-
vance. General Motors, at 1873, was a
point and a half higher on the day.
Packard ran up over a point and
Studebaker was fractionally higher.
The exception TO the rule was Dodge
Brothers "a" which was heavily sold.
There was no new explanation for
the selling Of the packing stocks. The
industry has been operating under diff
ficulties for some time and the stocks
have been more or less heavy. To-
day, however, these issues were
without nearby support and wide
breaks followed. Armour of Illinois
preferred, which had lost over 5
points yesterday on a sale of single
100 shares, slumped over 8 points
more. Armour of Delaware preferred
at 80, was down Az points on the
day. The Armour "a" and "B"
stocks made new lows for the year.
Cudahy Packing broke a point be-
tween sales and at one time showed
net loss of over points. Wilson &
Co. preferred dropped back nearly 4
points. Tartial rallies developed SUBJ
sequently.
Ward Baking Sold.
Renewed liquidation broke out in
Ward Baking and in Continental Can,
carrying the latter down to new
low. Colorado Fuel showed the effects
of realizing sales after it's recent spec
tacular rise. AT TN it was down 4
points from the years high. Tobacco
Products was the weak member in
Its group.
Much interest was taken in the ac.
ton of American Telephone & Tele-
graph. Publication of the details of
the new television device, however,
was either not a factor in the rise of
the day before or it had been dis
counted because the stock ened
lower today. Probably the investment
demand had simply been satisfied for
the time.