Evening star., 1927-05-06
TREND IS UPWARD
IN STOCK MARKET
Improvement Not So Uniform
Today-Spacial Issues
Bid Up Strongly.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.


NEW YORK, May 6.--The conspic-
uous moves in today's stock market
again were on the side of advance. but
the Improvement was not as uniform
as it had been earlier in the week. In
stead particular issues were picked
out and the buying in these was so
aggressive that it gave the market, as
a whole. an appearance of strength
which closer analysis did not bear out.
For a time the covering movement
in the oils went on briskly. Barns
dali. Marland and Phillips were in de-
mand by the previous sellers for the
decline, and prices rose accordingly.
was due to new buying. AT any rate
1t is doubtful whether much of this
trade advices were just as gloomy
about the oil situation as ever.
Some Utilities Strong.
~ One or two of the utilities were
very strong. The leader was Brook
lyn Edison, which crossed 164 to the
highest price in the history of the
present company, although back in
] 906 the stock of Kings County Elec-
trio Light and Power, the predeces-
sor company, had sold above this
figure. 1t is the rights that stock
holders receive to subscribe to new
SildGeS IS wen dS tHe uiSH lSttlS III
vestment character that gives TO
utilities such as Brooklyn Edison their
great attraction. Brooklyn Union
Gas sold right up around its recent
high in connection with the merger
report so often heard. Consolidated
Gas came to the front a little later.
The favorite in the railway list
was Chicago and Northwestern. The
advance in this stock was very
rapid and the trading in large
blocks. Asset value and consolida-
tion prospects rather than immediate
earnings were the commonly accept
ed explanation Of the strength. The
movement in other railroad stocks
was very uncertain, investment in
terest most of the day being concen-
trated on the utilities. More atten-
ton was paid to local fractions.
Brooklyn Manhattan and Interboro
4 Rapid Transit were both strong at
intervals.
The feature among the motors was
easily Mack Trucks, which made a
new years high right at the start and
held its gain remarkably well consid-
ering the extent of the recent ad-
vance. The gossip of the day had it
that the company had met great sue
cess in the railroad branch of its
business. Nash Motors, which had
Jagged behind the other motor stocks
recently, advanced sharply.
Equipments Irregular.
Equipments were highly irregular.
Pressed Steel Car was the strong is
sue and American Car & Foundry the
reactionary one. Special buying eVi-
IDENTIFY was going on in the first nam
ed, while the eacier tone in the latter
was due to the correction OF state
ments about earnings that had been
interpreted too optimistically. In the
general run of industrials Interna-
tional Mercantile Marine preferred
was outstandingly strong. 1t rose be-
tween two and three points on a
heavy turnover to the accompaniment
of rumors about pitalization plans.
Union Bag & Paper scared nearly
seven points and Electric Storage Bat
terry continued the advance started
yesterday.
There were many stocks that sag
ged, but not many that were really
weak. Uncertainty about the rubber
and tire trade was reflected in the de-
cline of United States Rubber to a
new low for the year. Foundation
Co. was another issue under pressure
and dropped to a new 1927 low.