New Britain herald., 1927-02-07
SPECULAT0RS ARE
 STILL IN CONTROL
But Wall Street Feeling Is
 Rather Strained

New York, Feb. z R,-Speculators for the advance continued in control of the price movement in today's stock market despite the uneasiness caused by the strained Wheeling & Lake Erie situation, and sporadic bear attacks against a few special ties. Chief speculative interest in the railroad group shifted from the low priced carriers to the dividend pay CTS while the industrial list was fea- tured by a sharp run up of 4 points in Hudson Motors.
 Except for few extra dividends on oil shares and readjustment of steel prices here to conform to re- cent price cuts in the steel districts, there was little in tn eday's new to influence the price movement. The monthly tonnage statement of the U. $. Steel Corporation due Thursday, Is expected to show a decrease of about 100000 tons in thrilled orders.
 The predicament of the shorts" in Wheeling 6 Lake Erie common was strikingly illustrated by the premium of $5 share e day, the highest in the history of the ex- change. which was charged for the loan of the stock and an extreme gain of Is points in the stock. which touched new high record at s5. as against low of 27 1-2 last year. Directors of the road today author- ized the conversion into common of the prior lien and preferred stocks. then adjourned until later in the dAy without indicating what arrange ments had been made to bring this about, as there is no authorized com mon stock outstanding for this pur- pose.
 Buying of the dividend paying rails was spread over a fairly broad list with Chesapeake & Ohio, Lehigh Valley, Lackawanna, Bangor & Aroo- stock and Pittsburgh & West Vir- ginia standing out with extreme gains to , to 1 points above last weeks final quotations.
 A. M. Byers and oil We'll Supply scared to record righs on reports that community of interest had been established between those com- panies. The run-up In Hudson reflect ed reports of increased sales of new models. Farm implements and rail- road equipment shares also present ed several points of strength.
 Stock prices moved higher at the opening of today's market. Record high prices were established in the first few minutes of trading by Western Maryland common. Cruel ble Steel preferred and Remington Typewriter. Houston OH opened 1h points higher and Y. s. Steel common, New York Central, Gen eral Motors and several other lead ing rails and industrials improved fractionally.
 Heavy speculation in the low priced rails continued to feature the market, although trading in the Wheeling and Lake Erie issues quieted down as the stock exchange called for additional information re- garding current transactions and directors of the road met to con- sider plans to increase the author ized amount of common. A brisk demand for the St. Paul and Vest ern Pacific issues enlivened trading during the first hour. Chesapeake & Ohio was run up 3 points in ap- parent expectation of an early q o1roar,oot hotu,ocu tho Vop Cuor- ingens and the minority stockhold- ers' committee at conferences to be resumed this week. Houston Oil, A. M. Byers, Amerada corporation and Hudson & Manhattan were added to the list of new highs.
 Speculative interest was at high pitch in the motor and anthracite coal shares, large blocks of which were absorbed at rapidly mounting prices. One block of 10000 shares of Chrysler was purchased at 4S. Reading and Pittsburgh and West Virginia touched new high prices for extended periods at 10515 and l42 respectively. Numerous specialties showed unusual prominence in the dealings. notably Certain-Teed pro- ducts, A. NJ. Byers. Oil We'll Supply and Advance Rumely preferred. Hudson Motors crossed 60. The re- newal rate on call loans was main- tained at per cent.
 THE MARKET AT 2:3O r. M.
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