Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-17
STOCK LIST STRONG
IN TRADING TODAY
Overnight Buying Orders Fell.
at 0pening-A. T. & T.
Opens Up and Drops Back.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 1.-THE grea
activity and strength of the stool
market today was n natural seque
to the sharp upbidding of prominen
industrial favorites which was Still
in progress as the market left of
Yesterday. Overnight buying order:
had accumulated in large volume ant
made themselves felt Immediately
the opening AS the session progressed
realizing brought prices down IRON
the early highs, but the demand still
was sufficient to sustain prices not fai
from their tops.
The rumors of an impending re
Capitalization and stock Split-up OF
American Telephone and Telegraph
were not new These reports were
emphatically denied by the president
of the company today Nevertheless
the stock opened at 16S, gain of 81
points and the highest in more than
20 years.
Loses on Profit Taking.
Profit taking subsequently carried
the price down substantially from Its
high, but maintained part of the gain
Other public utilities were taking their
cue from action of American Tele-
phone. International Telephone went
into new high ground. while Standard
Gas responded moderately to the in
crease in the regular annual dividend
to $3.50.
General Motors maintained its place
of prominence, advancing more than
a point TO it's best price under the
present form of capitalization. But
as was the case with American Tele'
phone it failed to maintain all the inn
provement Du Pont, because of its
large holdings of General Motors
moved forwrd sympathetically to its
best for the year. At 212 it was 4
points higher on the day. Low-priced
motors, which had shared only in a
small way in the recent improvement.
were taken in hand, notably Jordan
and Gardner. Higher prices were the
rule for Hudson and Mack Trucks,
although Studebaker was not disposed
to d. as well as most others.
U. S. Steel. crossing 164, reached
the highest price in the history of
the corporation. 1t carried with it
the additional stock to be issued as
a stock dividend Republic Iron and
Steel was responding to reports Of
highly favorable earnings and was al
most 2 points higher.
Rail Stocks Gain.
Buying of the railway stocks was
more discriminating. Lackawanna
was the outstandings feature among
better grade issues moving forward
almost points to fresh top of 1927
before the demand was supplied. New
Orleans, Texas and Mexico, in which
the floating supply is unusually small,
gained another points to its best
prices.
Along with the latter went Mis-
souri, Pacific preferred and common,
the demand possibly Influenced by the
knowledge that approximat ely IS per
cent of the New Orleans, Texas &
Mexico is held in the treasury of Mis-
souri, Pacific. Southern Pacific. which
was thought to be behind most other
rails, was taken up in large volume.
Canadian Pacific sold at higher prices.
following the announcement that a
special meeting had been called for
the purpose of authorizing an increase
in capitalization which might result
In valuable rights to stockholders.
General Asphalt and Atlantic Re-
fning were favorites in the oil group
Although these issues were in demand
at higher prices, others were still in
fiuenced by the unfavorable outlook OF
the industry as a whole. Expectations
of favorable report on Allied Chemi'
cal apparently was responsible for the
sudden upturn in that issue.