Evening star., 1927-10-17
BEARS GAIN EDGE
IN STOCK TRADING
Selling Particularly Effective
in leaderS-AII Motors
Are Heavy.
BY GEORGE T. HUGHES.
.cia, Dispatch to The Star.

Special DlSpdtcD 10 Inc star
NEW YORK, October 17.-Reaction
ary tendencies predominated III TO
dav's market. The selling was particu
larlv effective in the leaders, in stocks
of investment rating both rails aud
p industrials and it had least influence
on the specialties.
Money renewed at Al per cent
which was the highest In over week
and this served as an excuse Tor the
increased offerings in stocks, althouSh
if NAV not have been the real reason
The market had not given gooo ac-
count of itself Saturday when, as To-
dav. the strong spots were practlcaily
all in shares easily moved because OF
tho small floating supply elsewhere
and today's traders had evidently put
that Interpretation on the proceeulhsS
on the preceding session.
In Better Supply.
While there was no rush to sell, the
simply was in excess OF demand al
such industrials as General MOTORS
steel, General Electric and SmeltlhS
and Refining. The rails acted In muCn
the same way. New York Central soiu
off over a point on a turnover MOD
crate for that stock. Atchison, Balti-
more & Ohio, Delaware & Hudson.
wore all down more or less When
con,nared with the highs OF the year,
some of the losses were quite large.
For instance, Delaware & Hudson be-
low 1914 today was off SO points from
it's 1927 top Nothing is heard now
about giving the shareholders neSo-
table interest in the coal properties,
although there has been no change IN
the program as far as is pubncly
known. Erie was conspicuously firm
in the face of the selling of the other
rails.
All the motors were heavy. General
Motors showed the best resistance 10
the pressure, but that was all. Dodge
Brothers preferred made new low Tor
the wear below 81, and so did Pierce
Arrow peferred below 80. Studetaker
had a setback and Hudson, in which
there is supposed to be an extended
short interest, fiuCtuated uncertainty.
The news from the motor trade CEN
ters was encouraging rather thah
otherwise, but there was Stln the
doubt about the new Ford and its et-
feet on sales of the other companies.
New Yorkt Traction Strong.
; The stocks of the local fractions
were very strong. Brooklyn Manhat-
followed closely. The Street believes
the outcome of all various transit IN
auiries and readjustment plans VIII
be favorable to outstanding securities
of the traction companies or at least
that the market price of those securl-
ties has more than discounted the
difficulties of the situation
Industrial specialtieS in which the
bidding up process was stun success
full included American Linseed, Col
Inns and Aikmans Beechnut Packing
F. G. Shattuck and Rossia Insurance
All of these touched new 1927 highs.
Philadelphia Co. jumped over points
as it crossed 107, not unusual per-
formance for a utility stock with so
small public holding.
Money Not Factor.
That money was not a factor in the
market was demonstrated when the
rate was reduced in the afternoon to
4 per cent. Prices hardened Tor
brief period and then the selling was
resumed in larger volume and with
lower prices for all kinds of stocks.
The sugar shares were the objects
of a particularly violent attack. Amer
ican Sugar had been weak all day. on
< poiflts as it touched so, and IN the
afternoon Cuba Cane preferred yield.
ed until, dropping below 30, it was at
the lowest since 1922. That the sugar
stocks should prove so vulnerable was
something of a surprise, in view of
the f1rmness in the market for the
commodity.
Steel. General Motors and General
Electric extended their losses as the
day went on. New York Central was
the weakest of the high-grade divl-
dend-paying rails. Plainly, bear oper-
ators were taking advantage OF an op-
portunity that has not presented it
self for a long time.