New Britain herald., 1927-10-26
RISING MARKET IS
 1 NOT AC7|VELATER
General Motors, Which Started
 Strong, Falls Off

New York, Oct. 96 (P--A strong upward movement in the stock mar ket in the carly trading today. in- stigated by record breaking third quarter earnings of the General Motors corporation and renewed in vestment and speculative buying. petered out for a time in the early afternoon. The temptation to take profits Of gains Of 10 3 points. supplemented hy hearish selling of IT. S. Steel, Greene Cananea Copper and Houston oil, caused prices 10 slide down rapidly from their earlier peaks.
 General Motors, which started 'hc day at 123 F, fell to l30 l-4 frac- tionally under yesterdays final quo tatioD. |. z. Steel which closed yesterday al l39 3-S, dipped 10 lS6S4 as more consideration was given to the drop of nearly s5.06Q. .opo in third quarter earnings Of the cor poration. DuPont reCeded 10 @lS after getting as high as 225at and International Harvester dropped 5 points from it's best figure. Greene Cananea Copper had q loss of 1-2 as the reputed pool in the issue backed away from offerings. and in many other instances large gains were whittled down materially.
 Although a number of extra diyi- dends by minor companies attracted attention. and aside from the Cen eral Motors statement, news devel- opments had q bearish tinge. Sep tember railroad earnings continued to show a backward trend and freight loadngs, while exceeding those of the preceding week still fell far behind last years figures Shrinking crude oil production was largely offset by reports of lower earnings by some petroleum com panies. The money situation was little changed.
 Notwithstanding the extent of the setback ln particular shares, how ever, there were few points Of &C., tual weakness. There was sprink- ling of soft spots in steel. copper public utilities, chemical and rail road equipment groups
 Wall Street Opening.
 Several railroad shares were in the lead of another rise al the open ing of today's Stock Market. Chesa- peakn X Ohio began the day 1 points higher and Missouri Pacific and Erie point or so each. Dupont scored an overnight gain Of IA and General Electric ..
 General Motors, responding 10 record breaking earnings, opened with block of l5,oo0 shares from l3S 10 1%Si2, against 1So 7-S al the close last night. Numerous other shares of various cla asslfications moved forward in the face of q rather hoarish tjnge in some of the overnight news Further indications of q general drop in railroad earn mgs were forthcoming, and revenue freight loalimgS, while exceeding the figures of inc week before. were still well under last years records. crease in the crude oil produC- 'ion was partially offset hy reports uy some companies Of declining in come. The decrease in third Uu1r- ter earnings of |. <. Steel Corpora ton was reflected by q point drop in Steel common soon after the opening. General Motors fell below it's opening quotation before the first half hour was over. International Shoe had an carly jump of [ points, Case Thrcshing Machine Sl2 and Phila delphia Company anl lnterna- tional Harvester 2 each. Several of the dividend paying rails wore again in demand. notahly New York Cen tral, AtChlson, I.ackawanna and IT, linoiS Central. Wabash soon mado up part of yesterdays sharp drop. ani tobacco, chemical and packing issues were included in tn, carly list of advances.