Evening star., 1927-04-13
COPPERS LEADERS
IN STOCK MARKET
Other Groups Irregular With
Trading in Smaller VOL
ume Today.
BY GEORGE T. HUGHES


Special Dispatch TO The Star
NEW YORK, April 13.-The stocl
market today reflected confusion o
opinion in specuIativs quarters. Neither
side appeared at all confident of 1t:
position Trading consequently fel
off in volume. at least as far as recent
favorites were concerned. In many Of
these operations for the rise were sus
pended until the market itself coulo
give a clearer indication Of what might
be expected
This was true in large degree of the
higher.priced dIvidendpaying railroad
shares and most Of the time of such
market leaders as Steel and General
Motors. Instead. the restless profes'
slonal element turned to new groups
one Of which was the Ions neglected
copper stocks.
Copper Stocks Gain.
The copper shares had been under
the depressing influence Of the low
price of the copper metal for nearly
a month and while quotations did not
Yield materially they did not advance.
Today. buying appeared in this part
OF the list and practically all of the
active stocks improved. Chile Copper.
Kennecott Cerre de PaSco and Ana
conda were all at one time or another
higher Stimulus was given to the
movement by the decrease in stocks of
refined copper as of March 81 COM
pared with the preceding month. sta
tistics for which were published today.
There was the same irregularity in
the automobile stocks as yesterday.
Mack Trucks was strong again, cross
ing l12 to a new high for 1927. The
inward swing was accelerated as the
quotation rose, showing that part Of
the buying at least was coming from
the short interest.
On the other hand. Nash Motors,
which was such spectacular feature
in the last hour Tuesday, came down
sharply. The Nash report for the
quarter showed SLAB share for the
stock. compared with $1.51 in the same
quarter last year. General Motors
about held it's own, while Dupont was
coming down and Yellow Truck and
Coach was selling off.
Announcement of a reduction in
Pennsylvania crude brought further
selling into the oils. Marland and
Phillips were the chief sufferers. both
yielding a point or more. This did
not prevent. a few individual issues
from advancing against the trend, but
sentiment toward the oil shares was
still pessimistic. In one respect the
market was true TO It's recent chdr-
acter. and that was the way in which
the specialties We're taken up as inter-
est waned in standard issues.
Colorado Fuel Advances.
Colorado Fuel, which had gone up
over 4 points IN the preceding session.
pushed ahead to a new 1927 top, and
Commercial Solvents "B" added to its
sensational gain of the day before.
also establishing a new high market
for the year. Warner Bros. Pictures
was another fast mover in the same
general class. but all these incidents
threw no light on the future of the
market as a whole.
Most significant was the sagging
tendency in the high grade railroad
list. Nearly all the prominent stocks
in this group lost fractiOnally on a
comparatively small turnover. Per
haps it represented nothing more than
realizing sales after the extended rise.
but it attracted a good deal Of atten-
tion There was nothing new in the
railroad situation to affect the market
for the stocks, although more stress
was being laid on the additions to the
railroad expense item from higher
wages. The equipments received good
support. with the always popular Bald
win running up again. There was
good deal of quiet buying Of the utili-
ties during the day.