Evening star., 1927-02-17
RA|[SST|LL CLIMB
IN STOCK MARKET
Bull Campaign in Carriers
Shares Continues Apace in
Today'S Trading.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 1.-THE
bull campaign III railway stocks con
finued uninterrupted on the Stock EX
change today. Developments in this
Quarter overshadowed everything else
that happened. The market for indus.
trial stocks was not without feature.
but il was the rails upon which opera
tions for the rise were concentrated,
and the buying side of this group con-
rinued to offer the line of least re-
Sistance.
New high records were almost as
numerous as they had been Wednes-
dav. Included among stocks which
reached best prices of the year were
canadian Pacific, Missouri Pacific pre-
ferred and common, Baltimore and
Ohio. Great Northern preferred,
Northern Pacific. Texas and Pacif1c,
Kansas City Southern and the Wa
bashes. Before the first half session
had run its course gains extended
anywhere from one to five roints.
Wabash i'm Demand.
The report that the Lackawanna
was negotiating for lease OF the
Wabash, although neither confirmed
nor denied by officials of the former
road. was given considerable credence
and appeared to be the basis for the
Increased demand. Others of the
group which were taken in hand IN
tluded Colorado & Southern, up
points to %: Union Pacific, a point
or more higher; the Eries, Atchison
& Reading.
The selling, which came into the
market for General Motors following
Yesterdays announcement of new
preferred stock financing, appeared
TO have been completed. Around 15S
the price was almost points higher.
once the demand got under way for
Mack Trucks the market for the stock
responded readily, establishing a new
top for the year across 80. Other mo-
tors did little one way or the other.
Sugar Stocks Rise.
There was nothing new to account
for the sudden demand for several
of the sugar stocks. The best opin-
ion was that the worst that could
be known about the outlook for the
industry was already known and
that any change in the industrial
situation must be for the better.
The sugars had done little in the
recent up:urn and were thought to
be attractive at the current price
level South Porto Rico Sugar was
"a favorite. possibly because of the
knowledge that it represented low
cost operating company and is in
a position to do better than most
others under prevailing low sugar
prices. Great Western Sugar was
carried some two points above the
previous closing and American Sugar
Refining was prominent. Shares of
tobacco companies known to be in
a position to benefit through reduc-
tion in operating costs as result
of the installation of automatic ma
chinery were brought to the front.
The outstanding favorites of the
group were Consolidated Cigar. at
a new high for 1927. and Liggett &
Myers class "B." more than a point
higher across 80.
Baldwin Still Strong.
Yesterdays advance of more than 9
points in Baldwin Locomotive evil
IDENTIFY had weakened the technical
position. but nobody would deny that
there was still good sized short in
terest anxious to get in their contracts
whenever the opportunity presented
itself. Baldwin went forward briskly
TO a new high ground above 100 where
IL compared with yesterdays final of
1864
The early demand for Case Thresh-
ing Machine apparently was based on
favorable developments expected at
the meeting scheduled for later in the
day. international Harvester was
another high priced speciality that
commanded considerable attention.
Wilson 4 Co. issues We're prominent
among lower priced industrials. al
though there was nothing new to &C.
count for the strength.