Evening star., 1927-11-05
RAIL LIST LEADS
RISE ON EXCHANGE
Atchison Fayorite-GeneraI
/. Motors Gains. but Steel
Sells Lower.
By GEORGE r. HUGHES.
sneclal nlsnatch to The Star.

Special Dispatch to The Star.
NEW YORK November 5.-Rail
way shares assumed leadership of the
upward movement on the Stock EX
change at the week end. YeSterda vs.
market having been able to move for
ward in face of the unexpected in
crease in brokers loans. specula tive
sentiment continued to favor the buy.
ing side.
There was no particular reason for
taking up the rails today except that
they had Jagged behind the industria Is
in the recent recovery. Moreover. the
sharp recessions in the high grade
dividend-paYinC issues from their
highs of tho wear had carried them
10 a level where the Yields. although
still small in numerous instances,
were on more attra active basis.
AtchSon was a favorite and was up
some points from where il left off
Friday. Atlantic Coast Line. at 1S9.
was 3 points higher. Canadian Pacific
~ almost 4 points. and Delaware q
Hudson almost ! r0.nts. New York
Central continued in demand. The
Northwestern carriers. like Chicago
Northwest Great Northern preferred
and Northern Pacific, bore their share
in the improvement. while Southern
Railway. still influenced by the pros
pect of an increase in the dividend to
an SIS basis. was bought around high
est prices for all time
For a time General Motors was
neglected hut as the session pro
gressed the price worked slightly above
the previous closing. The drop in
White Motors from the high of the
year of 5Sas 10 the current quotation
around 33 had gone long way to-
ward discountinc the reduction in
the dividend effected after the close
Yesterday and the stock was lttle
changed following the announcement.
What was of more significance con-
eerning the future affairs of the COM
pany was the tiisscnsion among the
directors as q result Of the action and
the resignatio of the chairman of
the board and the vice president.
Mack Trucks and International Hdr-
vester were higher and most oher
motors held firm.
Kennecott Copper la! the continued
Improvement in the metal grolln.
Crossing rs. il sold at its highest price
since trading started on the Stock EX-
change Cerro de Pasno and Ameri
can Smelling & Refining were up
sharply. The better outlook tor the
market for the copper metal naturally
especially for the .cw cost producers.
Calumet and Arizona ran M some
two points and there was Il good de
nand for Magma around its previous
high.
Steel Sells Higher.
United States Steel felt the effect OF
short covering and was selling almost
two points higher at intervals. The
independents did little one way or the
other. but the en1ency was toward
improvement. American Can went
into new high ground for the present
shares. rejecting the better earnings
outlook
Shares of food and distributing com
paries were among the favorites,
notably National Biscuit, at new top
for the present share capitalize ton.
Loose Wiles Biscuit and Beechnut
Packing were carried forward sympa-
thetically. Crossing 200, United. Drug
sold at it's highest for all time.
In the last half hour renewed buy.
4ng made itself felt in the oil shares
hut this failed to check the upward
movement in other directions. The
best prices OF the day We're reached
80 the session drew to a close.