Evening star., 1927-09-17
TREND IRREGULAR
. ON STOCK MARKET
General Motors at New High.
Coppers Are Strong-MoSt
Rails Sluggish.
BY GEORGE r. HUGHES.
special Dispatch TO The Star.

Special Dispatch 10 The Star.
NEW YORK, September 1.-THE
week in the stock market closed with
continued active trading and irregu'
lar price changes. The conspicuous
moves were upward, as they have
been for long time. but there were
heavy offerings from traders who
wished to be out of the market over
the week end and they were not alb
Sorbcd without concessions.
Such news as came to hand was
constructive. 1t included an indica
lion of a stand for maintenance for
The present price scale by the United
States Steel Corporation and a series
of weekly trade reviews which We're
interpreted faVorably.
The time is fast approaching when
tine course of business for Autumn
and early Winter will be made plain,
and today's advices were all en-
CouraCinc. The market, however,
paid little attention to the news. 1t
concerned itself with its own techni-
cal condition and nothing else. The
surprising part is that after the wild
uphidding earlier in the week there
was no pronounced reaction.
General Motors once more made a
new high for both the old and the
new stock The opening sales of the
old were at 275, while $4,000 shares
of the new changed hands at the
start on a split quotation of 1SI to
l37l2. These figures compared with
the previous highs of PA and 1871.
respectively. L. S.>Steel early in the
dav sold around 100. but reacted
somewhat later. Elsewhere in the
list there was a jump of Z points in
Gimbel Brothers, with partial reac-
Il. h Nc ht.
pont. Consolidated Gas and Peoples
Gas.
None of these moves needed any eX-
planation. Gimbel Brothers earnings
are reported as steadily improving.
Dupont was going along with General
Motors and the high grade seasoned
dividend paying utilities are still con-
sidered the safest speculative medium.
Coppers Active and Strong.
The coppers were active and strong
again, Calumet and Arizona, Cerro de
Pasco and Greene Cananea being the
days favorites. The buying in Great
Northern Ore, which was evidently
. based on some special development,
kept up. and Texas Gulf Sulphur was
. in vigorous demand.
New York, ontario & Western fea-
tured the railroad list with further
advance responding to the sugges-
ton that the New York Central was
negotiating with the New Haven for
purchase of the latter'S interest in
Ontario & Western. Other railroad
stocks were sluggish, with no really
significant price changes. There was
also a good deal of selling of the inde-
pendent motors, particularly Hudson
and Studebaker. The latter at 5S was
down over 5 points from its recent
high. Independent steels were me-
elected. Houston Oil and Commercial
Solvents were lower and there was a
long list of less active stocks which
showed fractional declines.
General Motors extended it's gain
further in the last hour, and so did
Consolidated Gas. Eastman Kodak
was another feature. On the other
hand, the great majority of industrials
worked slightly lower. Steel was
down over a point, and so was Cen
eral Electric, and yet there was no
weakness.
:, Right at close, however, heavy
selling developed in General Motors.
carrying the price down for net loss
on the day.