Evening star., 1927-04-28
WHOLE LIST WEAK
. IN STOCK MARKET
Traders Recognize Serious
ness of Flood Situation.
S Rails Heavily Sold.
BY GEORGE T. HUGHES.

Special Dispatch to The star.
NEW YORK, April 2S.-The stock
market turned definitely weak today
one or two issues stood out against
me trend, but they were conspicuous
for that fact. The selling side was
overwhelmingly predominant. The
downward turn started with the oils.
which had been under such severe
pressure in the last hour on the day
before. but before the session was half
over the decline had extended TO the
general list and practically all classes
OF stock suffered more or less.
For the first time since the Missis-
aippi Valley flood situation became
aCute the stock market took cognI-
ance of it. Share roads serving the
f1icted region were heavily sold. MIS-
~ouri Pacific common and preferred
ave way under the offerings, regis
rrlng sharp recessiOns. Stocks of
,,.her lines traversing this territory
3,sc ground also, but the weakness did
1T stop there. 1t included railway
,1ares generally, seasoned dividend
ayers and low-priced speculative de-
"riptions alike and outside the flood
,..strict as well as inside it.
Ease in Downturn.
Various reasons could be advanced
rlr weakness in special stocks-as,
" instance, the unfavorabe New
rqven report-but the market did not
cd any other explanation than the
,,omonstrated ease with which stocks
ont down. Evidently spectators in
,ilroad shares had been protecting
emselyes by stop-loss orders, which
< they were uncovered accelerated
Ne decline. New York Central, Atchi-
.a0 and Norfolk & Western slipped
, : along with Wabash, Kansas City
authern, Missouri-Kansas-T and
-,,e Eries The one strong railroad
ack was Bangor & Aroostok, which
sshed ahead for a gain at one time
3 ,ounting to about nine points, added
the five points gained Wednesday.
ports Of buying for control were
rent but uncomfortable.
The oils were sold right from the
rt and new lows for the active
: res were the rule. A discouraging
lew of the outlook by a Standard
CIV authority was the only news the
rket had, but that was sufficient.
'illips. Marland. Pure Oil, Califor
= Petroleum, BarnsdaI. Midconti-
1t Petroleum, Independent Oil and
rs, Standard Oil of California and
:adard Oil of New Jersey were
: 9ng the oil stocks to set new low
ords for 1927. For time Pro
ers and Refiners and Houston Oil
owed support, but otherwise the
~ket for the oil shares was a sorry
/ If.
nited States Steel Gives Way.
fter the selling movement got un-
way the steel stocks joined in.
ed States Steel gave way and so
the recently popular Colorado Fuel
Iron, while among the independ
Crucible and Youngstown We're
-.y offered. Compilations of the
: IS Of steel products showed that
= average is now at the low of
year and the lowest since 1922, but
doubtful if any attention would
-a been paid to the unsatisfactory
"a level in steel if the rest of the
r,Iet had been going up instead of
~l.
hat was true of the steels was also
Of the motors. General Motors
led in higher, but was unable to
st the selling orders later on and it
o~e than lost its early gain. Mack
cks also had been supported at the
ming, but felt the effects of the
sure substantially.
South Porto Rico was the feature in
~, sugar group. Early in the day it
ched a new high for the year, the |
being accompanied by suggestions
Il recapitalization plan as well as
mates of extraordinarily good earn |
= Case Threshing Machine was |
~ther early favorite with the buyers
| among the utilities LacIede Gas |
cd out prominently.