Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-08-27
HIGH MARK SCORED
BY OLD FAVOR|TES
Market Also Registers Sc
we're Onslaught on Oils.
Rails Dull and Irregular.
BY GEORGE I. HUGHES.

Special B.-patth 10 ne star.
NEW YORK. August 27.-There
were two features to the trading OF
the Stock Exchange today. One was
the bidding up to new high points
of the old favoritcs. General Motors
l. S. Steel and General Electric
The other was Il savage onslaught
on the oil shares, carrying some oil
them down to new lows for the year
and weakening the entire list.
The strength in the leaders was
most consnicuouS in the first hour
The break in the oils came in the
second half of the session. The
attack was so sudden and 50 severe
that il unsettled the whole market
Another weak spot was Delaware d
hudson which was down more than
. points at 203.
Motors at go Mark.
General Motors not only reached
the $50 mark which had been set as
the goal, but surpassed 1t. the new
stock going along. L. S. Steel at l42
was IN over a point, and General
Electric at 1876 showed a gain of over
. uoints. None of these movements
was in any way q response TO new
deyelonmentS. The stocks were run
ming on the momentum gained IN
,revious sessions. At the same time
II must lie admitted that there was
none OF the excitement about the deal
inCs today that has been so con
snicuouS on one or Two recent
occasions.
Chrvsler was the faVorite i'll the IN
dependent motor class, also selling
AT the highest since the split-up. Buy
ING anpeared in some of the motor ac-
cessorv shares. Eaton Axle Spring,
American Bosch Magnetic and A!aN
Rubber. 1t would seem reasonable
that these motor car equipment con.
Germs should share the prosperity OF
the industry. but so far their stocks
have done little.
The rails were dull and irregulariY
lower. Atchison was not disturbed by
the unfavorable July earnings state.
nlent, which came out today, ana
ruled unchanged. but AtchiSon can af-
ford TO ignore current income re-
norts, On the other hand, Baltimore
& Ohio sold off and there was no life
to the demand for the great majority
of the railroad stocks, either the dIVl-
dend payers or the low-priced ones.
New Haven came nearer to being an
exception than any of the rest.
Oil shares acted badly. Pan-Amer-
lean Petroleum B. went to Il new
1927 low Phillips was heavily sold,
and Producers Il RefinerS' was low
err So was Standard Oil of California.
OF the independent steel stocks Beth
lehem was heavy. rejecting the
opinion that dividend resumption was
likely to be postponed pending recov-
cry in the steel trade. The spectacular
performer of Friday, Vulcan Detin-
ming, seemed to have lost its attrac-
ton following statement that there
was no good reason for the violent
fluctuations.
Unsettled at Close.
The close was unsettled, General
Electric maintained its early gain, but
General Motors did not There was
no rally in the oils, which We're selling
around the lows at the end. The spec
tacular break in Delaware & Hudson
was without explanation in the news.
There were only a few trades in the
stocks. but the market was very thin
on the way down. Steel was up close
to its high and there was a slight rally
in Bethlehem. On the ether hand,
Baldwin was lower and the mysterious
Vulcan DEFINING came down over 10
n1intS