Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-09-03
INDUSTR|ALSLEAD
STOCK EXCHANGE
Climb Not So Broad, but
Action of Those in Van Is
Impressive.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.

NEW YORK. September 3.-The
prominent industrials continue in de.
mand as the week ended on the Stock
Exchange. The upward movement
was not as broad as 1t had been dur
ing recent sessions. but the manner
in which such issues as General
Motors. du Pont, Nash Motors, Bald
win Locomotive, the mail order issues
and host of others in this category
moved forward was impressive.
Ordinarily it might have been ex-
rected because of the extended week
end as a result of the coming holiday
that profit-taking sales should have
come upon the market in rather large
volume. However. where these maze
their appearance they were readily alb
sorbed, and the market gave the same
indications of the underlying strength
that has been characteristic of it for
the past month.
Du POnt at New High.
Du Pont crossing $40 reached its
highest price for the present shares.
OF course the general belief was that
at the next dividend meeting directors
will maintain the policy of passing
along to shareholders extra distribu-
tlonS derived through the holdings of
General Motors stock
There was no let-up in the demand
Tor shares of food companies. Nation
al Biscuit was selling at its highest
prices for the present shares; Postum
Co., on reports of pending additional
acquisition of smaller companies.
went forward to new high for the
year; Loose Wiles crossed its previous
high and there was special strength
In California Packing and Beech Nut
Inc large wheat crop and the re-
sultant low prices for the commodity
was an important factor in the calcu-
latlons of the future earnings of most
of these companies.
international Harvester came to the
front among the high-priced indus
trldlS, establishing a new high across
203. This meant the highest at which
the stock had ever sold. There was
the incentive here of a recapitaliza.
ton plan whereby stockholders would
benefit through substantial stock
distribution. At the same time the
strength of Case Threshing Machine
appeared to reflect prospects of in.
creased earnings for both companies
because of the present farm pros
perity.
United tSates Steel Bit Higher.
United States Steel was fractionallv
higher, but did little noteworthy.
kennecott went to its highest for all
tlme when 1t crossed 70. Greene
Cananea and American Smelling
shared in the improvement in the
metal group, although there was moth. |
ing to indicate change in the price |
tendency for copper and other metals |
that would work out favorably for
these companies.
ShnrfC De-
badly pressed again, with the result |
that the price reached the highest for
all time. General Railway Signal felt |
the effect of realizing, but Pressed |
steer Car continued to move forward |
rapidly. American Linseed issues
rose to their highest for the wear and |
30 did Allis Chalmers when it crossed
1l3. The special operations in Ameri |
can Can and Allied Chemical kept on
carrying them to their best for the
present shares.
There was no weakness apparent in
the rail share market, but what was
happening in other sections over.
Swallowed developments in this omar.
Ter. However, Missouri Pacific issues
were bid up fractionally. Atchison.
Texas & Pacific, Nickel Plate and
delaware & Hudson gave a good ar. |
count of themselves.
The market continued strong to the |
close. Houston Oil ran up rather
sharply under short covering, and |
Coco Cola was brought to the front. |
The sugars were still rejecting the |
possibilities Of drastic Cuban restric. |
tons on the crop output which would |
work out beneficially for the Porto |
Rican companies. The late profit |
taking in several Of the early favorites |
failed to Offset much Of the improve. |
ment.