Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-18
STOCK ADVANCES
/. BRING REALIZING
1t
New High Records Establish.
ed 'Today-GeneraI Motors
E Is Strong Issue.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 1S.-Furthe
sharp uprushes in prominent indus
trials and railway shares invites
heavy realizing sales after the frs
hour on the stock exchange today
However. the reactionary tendenc,
did not become general until after the
usual number of new high record:
had been established.
Issues which gave the best account
of themselves were those which hao
the backing of strong banking inter
ests or were being influenced by pow
erful pool operations. General motors
at 100 was at it's highest price under
the present form of capitalization and
continued in demand despite profit.
taking elsewhere. Wall Street still had
the highly favorably February sales
figures of the company upon when
to base it's calculations.
T.. & Il. Price Is Of.
The heavy selling, which developed
An the market for American Telephone
& Telegraph. carrying the price OH
,,oints from the recent high, was an
indication that most of the recent
buvinc had been for the account OF
speculative interests, DESTROYS OF capt.
TALKING recent rumors of recapltallza'
ton or stock-split plans.
Despite the fact that United states
Steel was higher most OF the tlme'
heavy realizing sales were holdlhg the
market in check. There was nothing
in the steel trade news to cause I'M
easiness. On the contrary, much was
made Of the high rate or operations
of the Steel Corporation. Plants were
reported to be running above ~ per
cent Of capacity. More attention, now
ever, was given the price situation,
tendency of price schedules 10 haroen
naturally meant widening of the
profit margin and this probably mad
accounted, more than anything else,
for the recent strength of the steel
stocks.
Special strength Of several of the
copper stocks directed attention TO
the outlook for these companies. 1t
was the low cost producers that went
ND while others were working lower
in sympathy with the general tend
ency. Chile Copper was carried
forward to it's best for the year on
large turnover. Greene Cananea was
bid up more than point and Ken
necott was taken at higher prices.
With the market for the copper metal
still below 1917, any general upward
movement seems unlikely. But the
low cost operating companies, even at
the prevailing level of prices were In
q position to operate profitably.
n. & w. i'm Demand.
Southern Pacific maintained part
of the early Improvement which car
ried the price to a new top for 1871
and Norfolk Il Western continued in
demand for a time. Buying OF the
latter stock was accompanied by the
report that the Pennsylvania had in
creased it's holdings through recent
purchases in the open market. Kan
sas City Southern. did better than
most Of the others, although there
was nothing not already known upon
which to base further operations for
the rise in this issue. AtchiSon en-
countered heavy realizing sales, which
carried the price down sharply before
selling was absorbed.
Continental Baking class "A" broke
badly again to new low prices, under
80, still influenced by the cutting in
half of the annual dividend. Profit
taking was heavy in Pathe Exchange
class A. Cluett Peabody issues. which
were off sharply on the preceding
day following announcement of
changes in the directorate, were in
clined to harden. Heavy offerings
carried American Brown Bouveris
down 4 points from the preceding
closing, despite all the optimistci
statements put out concerning the
outlook for the future Of the COM
pany