Evening star., 1927-11-27
STOCKS HIT WAVE
Of PROF|T-TAK|NC
Bull Spectators Keep Prices
Climbing, HoWever-Cop-
pers Are Feature.
Rv the Assnciaicd Press.

BY the Associated Press.
NEW YORK. November @6.-The
main price movement in todaTs stock
market continued upward, although
heavy week end profit taking brought
about some irroCularity toward ihe
close. NsreGardinC the increase "t
SIS 900 900 in brokers loans TO
another new high record for all time,
and the prospect of stiffer call money
rates over the week end. spectators
for the advance bought heavily OF a
wide assortment of stocks, H1uhS
more than a score of them TO new
peak prices.
Although reports of further inn
movement were noted in the steel
and copper industries, the main
BACKGROUND for the current up-sWinS
appears to be the tremendous invest
ment demand Tor high grade Sc
curities as reflected in the prompt
absorption of nearly $200,0Oo,OO0 in
new bond offerings during the week.
While the announcement OF the
Republic-Trumbull steel merger took
Wall Street somewhat by surprise, II
apparently was without influence on
the stock market. Republic Steel
closed nearly point lower at 6lts.
COppers Sell OFT.
Coppers failed to maintain their
early. gains, although Anaconda,
Howe Sound and Green Cananea We're
boosted to new 1927 high prices.
American Smelling retained most of
a threc.point gain Rubbers moved
forward under the leadership of Inter
continental, which advanced more
than four points to new hlEh at
-, or more than double the year $
low of $11 a share.
l.. S. Steel common. Yesterdays late
feature. advanced to a new high on
the current recovery at 14l3s, or
nearly 20 points above last month $
low. and then settled back to 141, up
e net. General Motors common,
which sold within a point of steel a
month ago. showed a net gain OF Il
at 12S. Radio Corporation advanced
> points to 95 57s and was accompanied
into new high ground by National
Biscuit, Stewart-Warner, Mathleson
Alkal, Porto Rican Tobacco and b.
Transue Williams Steel, and several
others. Good buying also was noted
in Continental Baking A, Federal
Motors, Case ThrashinS. Arnold Con-
stable and National Supply.
5 points to a new low at $50 and
Marine preferred broke nearly 4
points to 81, but recovered most oil
the loss. Profit-taking checked the
advan,e in such recent favorites as
Montgomery-Ward North American
Co, American Express, Westinghouse
Electric and international Harvester.
Rails Are Sluggish.
Rails were again rather sluggish.
Delaware & Hudson and Chesapeake
e. Ohio recorded moderate gains, but
New Haven and the St. Paul issues.
which were strong yesterday, yielded
to realizing sales.
Foreign exchanges were irregular.
Sterling yielded to protit-taking, de-
mand bills slipping back lie of cent
to S4S7ia. and moderate recessions
also took place in the Belgian and
German rates. Italian. Dutch and
Norwegian currercies were slightly
firmer.
The weekly clearing house state
ment showed a deficit in reserve of
$39 ,40S $50. compared with excess re
serve of S10,621 $50 a week ago. Az
cregate reserve totaled $601 .999, 900.
The detailed statement of actual con-
dition this day showed mixed changes.
Net demand deposits dropped S54,356,
600. and reserve of member banks in
the Federal Reserve Bank, S57 .666.-
900 Loans. discounts and investments
increase S5.2S7 900: cash in own
vaults. $3.50, 900. and time deposits.
$7,512 900.