Evening star., 1927-11-13
STOCKS co UPWARD
ON GOOD BUYING.
Steel and Motors Resume
Bull Leadership-RaiIs
Climb at Finish.
Bv tho Associated Press.

BY the Associated Press.
NEW YORK. November 1o.-Spirit-
ed buying in the stock market today
carried the general level of prices up
ward Some week END protit.taking
in the last hour of the halliday ses-
sion check ed the advance somewhat,
but nevertheless many of the lead,
ing issues closed | to points or
more above yesterdays fn1l figures.
some of them at their perks for tho
day.
Considera BILE optimism prevailed
among operators for the advance as
buying orders came in from The out
side, inspired by such favora BILE
developments as President Sloan's cp-
tmlstic forecast of next years Gen.
eral Motors earnings. s'iffeninG steel
prices and the increase III untitled or
ders of the United States Steel Cor
poration. Easy money continued to
be a factor. empha sized by the ready
reception given various new issues
in the bond field.
Prospects Of good business was
again reflected by buovanc" Of mer-
antile issues such as Montgomery.
Ward. Woolworth, Sears Roebuck,
Munsingwear and Arnold Constable.
all of which reached their highest
prices for the year.
Steel ana Motors Soar.
Such leading issues as United States
Steel and General Motors, were in
brisk demand the former closing at
its days highest. hut Motors fell lack
Il little in the final dealings. Leader
ship furnished by steel common was
instrumental in running up several
important shares into new high ter
ritory, including Interna tional Har-
vester, which sold as high as 242 be-
fore reacting to around 239ls
The last half hour was featured by
strength of some of the carriers,
notably Atchison and Delaware &
Hudson. which attained their best
prices of the day in that period. New
York Central advanced more than a
point, closing around 164 Buoyancy
of these issues was reflected also by
sharp advances in American Railway
Express and Adams Express. both
of which sold at their best prices of
the year.
Some of the Specialties provided
much interest. American Can COM
mon and preferred Corn Products.
Burroughs Adding Machine and
Mathieson Alkali established a new
maximum figure, and Colorado Fuel.
Crucible, Pierce Arrow preferred and
Shattuck We're among the issues
which gained 9 or points or more.
Du Pont. stimulated by expectations
that the company's share of the Gen.
eral Motors extra dividend will be
passed on to the shareholders Mon
day had an extreme jump ofsmore
than 4 points to 500, closing a point
below that figure.
Corn Futures Sold.
Selling of corn futures following
the reopening of the Chicago Board
Of Trade after the Armstice day
recess featured the commodity
markets. The price was forced down
almost 8 cents bushel. but in smart
recovery at the ebb, part of the loss
was made up. The early selling was
predicted by indications of an in
creased yield in the Government
forecast of Thursday.
Wheat advanced almost 2 cents
bushel on buliisl1 construction placed
on the Canadian crop estimate. Cotton
prices were quoted steady ut to 20
points higher: coffee was slightly lower
and sugar futures a shade better than
the previous closing figures.
Strength of sterling, which reached
s4.S7 lis. the highest siN2 1914, was
the outstanding feature of the foreign
exchange market. Dutch guilders II
40.321a cents were at the highest level
since 1919 Other changes were
negligible.
The weekly statement of clearing
house banks and trust companies re
vealed excess reserve of S5.355.499
decrease of S2.177.150 from the week
before. Actual condition this day o
clearing house members showed mixed
changes, loans, discounts. investments.
etc. decreased s5,71S.000; reserve in
Federal Reserve Bank OF member
banks. S2.991 900 and net demand
deposits, $3.50 900.
Reserve in own vaults gained 1885,.
900. reserve in repositories. S613.O00;
time deposits. s11.743,0 900, and cash in
own vaults. sl.807. 900.