Evening star., 1927-04-14
UTILITIES LEADERS
IN STOCK MARKET
Urgent Buying Comes Into
the Sugar ShareS-High-
Priced InduStriaIS Follow.
BY GEORGE t. HUGHES.

Special Dispatch to The Star.
NEW YORK, April 14.-The utili
ties were picked out today to lead the
stock market into higher ground
This group has not been the object
of such excessive speculation as has
appeared in many other parts of the
list and so was comparatively easy
to move. AT the same time urgent
buying came into the sugar shares
Some of the high priced industrials
followed along, including a few of the
motors. The copper shares held most
of the gain of the day before. and
finally. the rails began to swing into
line. Meanwhile oil stocks were under
heavy pressure and many OF them
went to new lows for the year.
There was nothing new in the out
side situation to influence the market
as whole Money renewed at Az
per cent, unchanged. but the fact that
the industrial averages on the day
before had made new top Tor the
year encouraged operators for the ad-
vance. and with the unwilling aid of
the short interest, they were able to
bring about substantial gains in the
particular issues selected for leader
ship.
Sugars Buying Active.
Buving In the sugar stocks was the
most active in months. Raw sugar
futures had gone higher and quota
tions for refined had been marked
up accordingly. The Improvement in
the trade situation was not pro-
nounced, but it was enough to direct
spectators attention to the sugars,
and prices for practically all of them
moved up easily. South Porto Rico
was, as it usually is, the leader, show
ing a gain at 17012 of Z points on the
day. Cuban Cane preferred, generally
believed to harbor an extended short
interest. jumped points. Punta
Allegro crossed 40 for a gain of over
a point and American Sugar Rein
ing joined in.
While this was going on in the
sugars the oils were freely offered.
Marland dipped to a new low for the
wear and Phillips duplicated its pre-
vious low.
The utilities favorites were Montana
Power, Consolidated Gas and Standard
Gas & Electric. The first named
touched a new 1927 top at IS. Con-
Solidated Gas crossed par and stand
ard Gas & Electric was bought on the
bright prospects of its subsidiaries,
especially those operating in the Pitts
burgh district Some of hte lower
priced utilities were in demand from
time TO time. among them Electric
Power & Light and General Gas
Electric.
The railroads were little late get
ting under way today, but they shook
off their lethargy as the session went
on. AtchiSon came to the front, as II
always does when the high-priced
dividend-paying issues are active, and
made another new high price for all
time. Wall Street persists in the De
lief that Atchison shareholders are
in line for stock dividend.
c. 6 o. Is Strong Issue.
Chesapeake & Ohio was another
strong issue. The point was made
that in comparison with Norfolk &
Western, the Chesapeake & Ohio
earning roughly about the same
amount per share and paying the
same dividend was out of line, re-
gardless of the decision of the Inter-
state Commerce Commission on the
application for permission to acquire
control of Erie & Pere Marquette.
Kansas City Southern started up
again when it was evident that the
rails were getting their share of the
buying.
The market for the motors con-
tinued highly selective. Mack Trucks
added to its recent gain, the buying
being accompanied by the statements
that sales of busses had shown
sharp increase and that business
generally had improved. Hudson was
The leader Of the Independents, while
General Motors was firm around, or
just below, its high for the year.
Industrial specialties that We're ia
vored from time to time include
Allis Chalmers and the now normally
spectacular Commercial Solvents "B."