Evening star., 1927-11-15
STOCKS CONTINUE
FORGING UPWARD
Whole List Works Higher
Rails Action Is Feature,
Steel Holds Gain.
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, November 15.-The
stock market forged ahead again TO-
dav. absorbing the protit-taking result
ant upon the rapid advance in the
last half-hour of the day before. For
a time the standard stocks, steel and
General Motor, Jagged behind, but by
noon they had caught up and the
whole list, with a few exceptions, was
working slowly higher.
| Perhaps the action of the railroad
shares was as significant as anything
else. There were evidences of acCu-
mutation of the high priced seasoned
| dividend payers, the socalled $40 stocks
that is. those paying SO dividend
either regularly or partly extra. All
such selling below 200 were on more
attractive investment Weld basis tnan
an industrial such as Steel, on which
the WELD was less than per cent, as
soon as it crossed 140.
| Leading this movement was NorIoih
g. Western. earnings of which warrant
! q much higher price and would doubt
! loss command it We're it not for the
belief that 1927 is an exceptional year
| for this road. However that may ne
| the stock was very strong today IN
| This same class fall Union racine
| canadian Pacific, Atchison ana Atiah-
tic Coast Line.
Northern Pacific Rises.
Following publication of a state
ment by President DonneliE tndt
| Octoher revenues of Northern Paclflc,
both gross and net, would be as good
as any October in the history of the
road. the stock advanced to the high
est since 1919, when it was paving
ner cent instead of as now. Nhlie
there is no suggestion of an increase
in the rate at present, the outlook 1T
the section served is such as to fore
cast a higher disbursement next year.
Great Northern preferred, and Chi
caso & Northwestern went along with
Northern Pacific.
All things considered. steel held yes
terday's gain very well. At 143 it
was up over II points from the low Of
the last three weeks, which might
have been expected to invite large
profittaking. Apparently, however.
the short interest was larger tha
had beer believed and it's haste f.
retire it's contracts was the stronger
influence. News from the steel cen
terS continued encoura ging.
Gulf States Steel was the leader of
the independents. rejecting reports of
better operating conditions. AS a
matter of fact. Gulf States. which is
now paying no dividends on its com
mon stock. earned as much in the
third quarter this year as last.
The motors were slower to respond
than the general run of industrals
but they came along in the afternoon
under heavy trading. General Motors,
above 1873. was higher than at any
time Yesterday. Mack Trucks ran up
int Et,1c a.
larger gain. Hump Motor was strong
in connection with the report of new
combine.
Merchandising Shares Wanted.
Shares of merchan ndising companies
again were in active demand Such
stocks as Oppenheim-Co Collins and Best
& Co. are examples. The tobaccos did
better. today's favorite being Loril.
lard. which made a new high for the
year above 43. The most consistently
strong group was the sugars Stocks
of Cuban. Porto Rican and domestic
refining corporations all went up
together. Probably short covering
helped. as the sugar shares have long
been target for speculation for the
decline.
OF interest. too, was the buying in
the oils. Barnsdall, in which some
special influence was evidently at
work, was one Of the most active, but
other stocks, which move solely in ac-
cord with sentiment as to the outlook
for the industry, such as Standard Oil
OF New York and Texas Corporation,
were in demand. Lago Petroleum, the
floating supply of which is not large.
sold up to a new high for the year at
81. Atlanta Refining gained between
and points