Evening star., 1927-04-22
MOTORS IS LEADER
IN STOCK MARKET
Shares Push Ahead Into New
High Ground and Have
Stimulating Effect.
BY GEORGE II. HUGHES.

Special Dispatch to The star
NEW YORK. April 22.-Standlne
ont from the others In its group, Gen
eraI Motors pushed ahead INTO new
high ground during the second par
Of the session on the Stock Exchange
today. The market leader had opened
unchanged and fluctuated nerFousiy
aH the morning, but just after noon
the buying got the upper mana anu
the price forged upward again MS
had a stimulating effect upon the
rest of the market, although the oils
were still weak and most OF the III
dependent motor shares lower.
Aside from General Motors the
railroad stocks were chiefly strong
features.
Strength in the rails ceutered about
the I.oree stocks Delaware & iud-
son was aggressively bought as i
touched new high. where 1t sold
above 200 Todays price for this
stock has not been equaled since l9U0
Katy i'm Heavy Demand.
ssouri-Kansas-Texas was in heavy
demand. selling at the highest since
the reorganization. Kansas CITY
Southern went along. The only eX-
PLANTATION of this revival Of interest
was the prospect for accomplishment
of the merger III lUE fopQblNtats
Other railroad stocks in favor in
c1nded Tackawanna and for Il time
New York Central. Pennsylvania and
Rock Island. Missouri Pacific reacted
nj the start but regained a part ol
the loss later. st. Louis-San Fran
cisco improved along with Rock
Island. in which it has so large an
Interest.
The oils were heavily sold right at
the start Maryland broke 40 for the
first time since the pressure against
II set in. Phillips was weak, and the
other active shares in the group also
lost ground The statement of the
NTarland president to the effect that
NO relief from overproduction was in
sight encourag ged bear operations, and
4he fact that these stocks nave met
practically no support during all the
long decline iutimidated buyers who
might otherwise have concluded that
the worst had been discounted,
Publication of the second quarter re-
Dorts, which are expected to reHect
present conditions, may mark a turn
in the market for the oils, hut there
was no sign Of any such development
today.
Pressure against the motor shares
was most pronounced in the case OF
Tndee. Both the class "a" and the
preferred made new lows for the year
in response to the Unexpectedly poor
showing in the first quarter state
nent. Other automobiles shares which
were lower at one time or another IN
cluded Hupp. Studebaker, White
Motors. Chrysler. Mack Trucks and
yellow Truck and Coach. Some of
these rallied subsequently along win
Hudson. which maintained its position
better than most of the independents.
IndustriaIs Highly Irregular.
General Motors, which had such a
sensational squirt in the last hour on
the day before, opened unchanged to-
DAY. and fluctuated feverishly for the
first half of the session within range
OF a few points On behalf of the COM
pany the president of one of the di-
visions stated that this month would
be the best in the history of the cor
poration.
Otherwise the Industrial list was
highly irregular. General Electric
was strong, lettering its previous 1927
high. Montgomery Ward did the same
when it sold at 20. Lima Locomotive,
which had come to. life suddenly yes
terday, extended its gain, On the
bther hand. Electric Refrigeration
broke on the passing of the dividend.
Warner Bros. Pictures slumped over
points, and there We're excited vari-
ations in Kelly-Springtield.