Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-12-27
TENDENCY TO GIVE
SHOWN BY STOCKS
Rally BriskIy Wien Selling
Lets Up-Transaction
Volume Is Off.
BY GEORGE r. HUGHES.


Special Dispatch to The star
NEW YORK, December 27.--Stock
prices pursued an cratic course on
the resumption OF business after the
holiday Initial strength was not
maintained and quotations were in
clned to give whenever pressure was
exerted. On the other hand. they
would rally as briskly whenever the
selling let up.
Money renewed at 5 per cent and
rose to So and the banks called
SEQ 900 900 in loans in order to meet
year end current requirements. This
was the normal procedure at this sea
son and spectators were we'll aware
of it.
Money Outlook Factor.
The irrcgtllarity and uncertainty OF
the market could hardly be ascribcd
10 the immediate outlook for money
As to the longer range prospect. that
il another matter and one on which
opinion is still sharply divided. the
real key to the situation appears 10
he the demand for funds for CONNER
cial purposes when and IL That de-
mand gathers strength enough to COM
pete with the needs of the stock mar
ket. money rates will become the de-
termining factor in prices.
transactions fell off in volume, ana
the ticker Mt times came TO head
standstill. Illustrative of the inde'er-
inmate character of trading mont
gomery Ward opened at 1913. solo lfac'
tionally higher at new top LOT lf'
present shares. and then, when
block of 1000 was offered. dipped )
a~ff Rt
later on. Woolworth. although rang
inc higher on the day. went through
n somev hat similar order of varla'
tons. Midland steel Products pro
fcrrcd at 262 was up l. points ana
then sold off again.
The ono consistently strong group
was the motors. General Motors at
1873 was up points from the proceed
ing close, Nash Motors. crossed 100.
the highest since the split-up, and was
in active demand Dodge a was an
other strong motor for time. Mack
Trucks was weak in striking contrast.
Steel Gain Not Held.
United States Steel started in at an
advance. but did not hold the gain.
The independent steels, notably Cru
chile, went lower. Speculation was
busy WIN the outcome vi ttit IHttiiHG
of the steel directors late this after
noon and their probable choice of n
successor to Judge Gary. There was
no discussion OF the trade situation.
individual industrial speciaities were
bid up to new highs" but they were
not as numerous as they have been
in other recent sessions. Todays IA
vorites included ArcherDaniels.M
land, American Agricultural Chem
ical preferred. Oppenheim-Collins. Da-
vison Chemical. Collins and Altman.
GOODYEAR Rubber and Manati Sugar
preferred, Sugar shares generally
did better. under the leadership Of
Cuban American. Buying OF the local
utilities centered principally about
Consolidated Gas and Brooklyn Edison.
Steel did better in the afternoon, hut
the turnover was still moderate. as
was the case in The entire list. More
attention was paid Ia the copper and
sulphur stocks. Among the rails Erie
improved over point on the more gen.
eral understanding that the drop in
November earnings was due almost en-.
tirelv to lower receipts from the coal
properties. General Motors sold
around tho high OF the day. and some
Of the stocks which had been under
Pressure earlier in the session re-
covered.