Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-01-18
RAILS ARE LEADERS
| IN STOCK MARKET
Aggressive Buying in This
Group ResCueS List From
Irregular Period.
BY STUART z. WEST.

BY STUART Z. WEST.
Special Dispatch TO The Star
NEW YORK. January 1S.-Aggres-
sive buying OF the railway shares
came TO the rescue of the stock mar
ket today after il had passed through
two hours or so Of considerable
uncertainty. This buying did not con
verge. as it had on other days, upon
the so-called merger stocks. 1t went
in for the standard dividend payers,
The Northwestern rails were among
the leaders. as were Baltimore and
Ohio and New York Central. The
strength in the last two was naturally
associated with the recent rise in
Reading. of which Baltimore and Ohio
and New York Central own large
amounts.
Missouri Pacific increased its lead to
more than points. The buying was
looking forward to the adjustment
sone day of the back dividends. North
American was the leader among the
public utilities, more than usually &C
tive. at sharply advancing prices.
Gulf, Mobile and Northern was in de-
mand. There was more doing in the
stocks than in some time past. Here
the incentive lay in combination pos
abilities.
Some disappointment was professed
because nothing happened at the Le-
high Valley meeting. The president
of the road was quoted as saying tnat
there had been no proposition from
the Delaware and Hudson, New York
Central or any other company looking
toward increased representation III the
Some disappointment was shown
because nothing happened at the
Isehigh Valley meeting. The presl-
dent OF the road was quoted as say
ing that there had been no PROPOSE
ton from the Delaware and Hudson
New York Central, or any other COM
PAW looking toward Increased rep
resentation in the Lehigh manage"
nent.
\ This announcement did not bring
about any selling TO speak of in Lee
high Valley stocks. 1t did not dis
courage further buying for a time
in Reading, which had been moving
synapathetically.
The Missouri Pacific shares we're
very strong with both the common
and preferred above their previous
high points for 1927. The Bangor and
A
again with the preferred up points.
There was not much doing in New
York Central or in Atchison, but
Southern Railway was strong again.
Pere Marquette, which had risen
points on the previous day, crossed
120 for the first time this year. This
appeared to be part Of the general
railway movement rather than sug-
gestive of anything new in the Van
Sweringen merger case.
There was heavy selling in the
equipment leaders. Baldwin Locomo-
tive and Pullman. In the other hand
General Railway Signal on favorable
business reports was strong. RealiZ-
ing sales made themselves felt in
Remington Typewriter and some fur
Their selling occurred in Radio Cor
poration. The market for these in
dustrial specialties vas still in a sensi-
tive condition.
Among the oils the feature was
Houston, which ran up over , points
on comparatively large transactions.
Motor shares were weak again for
while, especially General Motors,
Mack Truck and Hudson Motor. But
later on there was a moderate rally.
The steels were not doing as much
as usual in proportion to other groups.
Steel common was comparatively dull.