Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-25
SHARES HIT PEAK
IN STOCK MARKET
AtChison and General Motors
Rise to Height Never
Before Equaled.
By GEORGE T. HUGHES.
patch to The star.

Special Dispatch to The star.
NEW YORK, August 25.-Two fea
tures stood out in today's active ant
at times hectic stock market. on'
was the rise of AtchiSon to helGh
never before equaled. and the othel
was violent upward surge IN Ten
eral Motors, not only to the hlghes
of record, but at 246. up over points
on the day. -,
The effect on the general list o
these two movements was diverse
The strength III Atchison was stimu
lating to the rails. but the slaughter
of the shorts in General Motor:
brought nervous realizing into Other
industrials and gave the market
highly irregular appearance.
The real fireworks in General Mo
tors did not come until the afternoon
when the stock had an almost per
pendicular advance of some or
points. 1t was quite evident that
part Of the rise was due TO urgent
short covering Feversh fluctuations
in the general list followed. little
later prices hardened under the lead
of the new Pullman stock, which went
to a new top since dealings in it were
begun.
Atchison started the buying move
ment in the railroad shares. 1t had
closed at 1876 on the day before. II
opened fractionally lower this morning
but before the first hour was over ii
had sold at 200. The strength brought
out renewed reports about stock div
idend, but a more likely explanation
was that a new leader was needed and
Atchison was requisitioned.
Bullish Moves Thwarted.
The July earnings statements as
they have come to hand so far have
not been calculated to encourage bull
ish demonstrations in the railroad
stocks. Today's batch included Lack
awanna. Missouri Pacific and the lat
ter's subsidiaries, International Great
Northern and Gulf Coast Lines. All
made unfavorable comparisons with
the same month last year. Missouri
Pacific was the only stock to make an
unsatisfactory showing on the tape.
The seasoned dividend payers were
higher without exception. notably
New York Central, Union Pacific, Nor
folk & Western and Chesapeake &
Ohio. Delaware & Hudson continued
it's slow but sure upward movement.
The market seemed to regard July
earnings as so much water over the
dam" and to be forecasting better re-
suits in the second half of the year.
Steel Shares Heavy.
Steel stocks were heavy most of
the session. The disappointing trade
reviews Of Wednesday were supple
mented today by predictions of a de-
crease in untitled tonnage in the next
statement Of the Steel Corporation.
There is no denying that the seasonal
recovery has been slow this year.
Steel was fractionally lower and so
were the stocks of the independents.
1t was significant. however, that
there was little activity on the reac-
ton.
There were quite few weak spots
among the industrials. Barnsdall was
heavily sold and Radio Corporation
lost ground easily. The decline in the
last named was connected with the
announced entrance of the Mackay
Cos. into the radio communication
field through the purchase of the
Federal Telegraph Co.'S system.
Low i'm Copper Group.
Greene Cananea was lower in the
copper group and many stocks in
this part of the list were unchanged
or fractionally lower.
The rise in General Motors to a
new high above 240 brought about
a similar advance in the new when
issued stock. Hudson was the strong
est of the independents. Packard
held its recent gain and there was a
rapid rise in Stewart Warner.