Evening star., 1927-09-06
BULLS HOLD SWAY
I ON STOCK MARKET
Wore Public Participation in
Trading Believed Enlisted.
/ Many at New Tops.
BY GEORGE T. HUGHES.
II Dispatch TO The Star

becial Dispatch TO The Star.
NEW YORK, September 6.-The
tocll market started in after the holi
bay with the upward movement in
hull swing. Activity was greater than
h the trading of the previous week
he market was broader and the price
tdvances were larger. New highs oil
lne sort or another were sprinkled
kberally over the entire list, with the
halls and the oils about the only eX-
teptions and in the former New York
Central stood out.
There was nothing in the news over
p1e week end to account for the out
burst of speculative enthusiasm.
FERNS of the Government September
Is financing were interpreted 10 fore
hst continued easy money, but there
had been no doubt on that score for a
bng time. Trade advices were mod
lratelv optimistic, but it is improb-
bile that that was an influence. The
treat factor was the demonstrated
lbility of the market to push through
Is old tops.
How far public participation was
being recruited was a matter of opin-
on. That is something which can
lever he accurately estimated. The
lnly thing that is certain is that the
harkct was much more than a pro-
essional affair.
New Highs Numerous.
An enumeration of the various
tocks which went to new highs"
kives a fair idea of the proceedings.
b. the first place, New York Central
1t 159 was higher than at any time
fnce 1902. General Motors, above
s52, was at the best under the present
brm of caitalization. Nash Motors
1t 80 sold at the highest since the
lplit-up, todays price being the
Equivalent of goo for the old shares.
pu Pont made new record for the
present no par shares.
Tobaccos were prominent. r. J.
Reynolds "B' sold at the highest
fnce the capital readiustment in 1920.
kiggett & Myers "B' made the best
Price since 1924. Baldwin and General
Railway Signal featured the equip
hents both at the best in their
history.
There was a long list of general
,ndustrials forging ahead into new
nigh territory, all of them for the
Pear and some of them for all time.
They included Allied Chemical. Ameri-
ian Can, Coca-Cola, General Electric,
uontgomery-Ward. Sears -Roebuck and
tNoolworth. Others were National
Biscuit. Postum Co, Loose -Wiles,
International Harvester and American
smelling & Refining.
The rails were not as prominent as
he industrials. but they were nearly
III firm and some of them strong.
Atchison ran up a couple of points
lnd Great Northern preferred sold
Iround the best of the year
Steels i'm Fair Demand.
II Steels were not as active either, but
hey, too, were in a fairly good de-
hand. Colorado Fuel & Iron was the
eader Of the Independents. United
States Steel at 14S was at a new high
1 deduction of the dividend is taken
nto account Consolidated Gas, Ma
fonal Power & Light and Southern
california Edison were the favorites
n the utility group.
Doubtless short covering played a
part in the closing days of last week
that many spectators for the decline
must have beat a hasty retreat. BY
that much the technical condition had
been weakened and the inevitable re-
lction brought nearer. Any unfavor-
lble trade development would surely
have a decided effect on a market that
has gone ahead as far and fast as
This one, but Wall Street was not look
hg for anything of that kind today.