Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-04
STOCKS CONTINUE
CLIMBING TODAY
Motors, Rails, SteeIs, Oils
and Sugars Leading-ln-
dustriaIs Are Strong.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 4.--Moto
stocks, the rails, steel and meta
shares, some of the oils and sugars
and large number of prominent ir
dustrial specialties resumed their UT
ward movement on the Stock EA
change today. In many instances tn
advance was pronounced with neH
high records for the year common.
1t was evident by the rebound of in
dustrials favorites, which were presse'
for sale during the two days of de
cline earlier in the week, that a goo'
sized short interest had been built UP
The professional element was having
difficulty in getting in its outstanding
contracts and once the upward move
ment got under way the demand be
came urgent.
General Motors at New High.
General Motors, above III, estab
1ished a new high record for the year
Other motor stocks were taking theil
cue from the action of General Mo
tors and at times the demand fol
Hudson was pronounced. Mack
Trucks bore it's share in the improve
ment, while Du Pont and Chryslel
We're substantially higher most of the
session. Heavy liquidation of Strom
berg Carburetor. which followed the
drastic cut in the dividend rate two
days ago, was completed, for the
time being at least. and the price held
around the previous final quotation
Of 81.
The further advance in the market
for the copper metal carrying the
price to 13ss. the highest since last
December, was reflected in rather
heavy buying Of copper shares repre-
senting low cost producing companies
like Kennecott and Chile. Both
stocks, selling ex their quarterly divi
iends, retraced most Of the amour,
deducted from the selling prices
The tendency toward high prices for
the metal naturally has had the effect
of stimulating production.
According to latest statistics. more
copper was produced in February
than in any month during 1926, with
foreign sales totaling 10000 tons.
American Smelling and Refining was
sympathetically influenced, although
it still has as an incentive for the de
mand at new high prices the highly
favorable showing in the 1926 report.
Low.Priced Rails Gain.
Low-priced rails, particularly those
involved in the recent merger rumors,
again came to the front at intervals.
Substantial gains were recorded in
Wabash, preferred and common; the
Western Marylands, Kansas City
Southern and New York. Ontario &
Western. Atchison was prominent
among high-grade dividend payers,
while others in this category were
either holding firm or were in demand
slightly above previous closing quota
tions.
There was nothing in the situa-
fion Of the rubber and tire companies
themselves to account for the buying
which came into Fisk. Ajax and
1Selly-Springfield. They were merely
influenced by the better outlook for
the industry and the prospects Of in.
creased production during the com
ing months.
Crucible Steel maintained it's place
Of leadership in it's group, advancing
anto new high ground for the year
No new developments concerning in
creased dtstributiosls to shareholders
appeared to be forthcoming, but Wall
Street continued to credit the rumors
that good things are in store for
stockholders. Steel common gained a
point at one stage, but felt the eff.
fects Of profit taking at the higher
level. Bethlehem and Republic both
were bid up another point before the
demand subsidized.