Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-01
STOCKS CO LOWER
ON PROF|T-TAK|NG
Confident Tone of Past Two
Weeks Absent-IrreguIar-
ity Follows.
s,ecia, Disna,ch TO The Star.

Special Dispatch TO The Star.
NEW YORK. March 1.-The con-
fdent tone which has been so con-
spicuously present in the market foi
tne past TWO weeks was not in evil
fence on the Stock Exchange today
The main body of stocks opened ac-
tive and strong and continued SC
throughout the first half hour. Then
profit taking became urgent carry :
Ing prominent industrials in many
instances well below yesterdays final
prices. Thereafter stocks moved
with a good deal of indeciSion. with
gains and losses intermingled.
1t was a question whether the iact
that the increase in brokers loans FOR
The first time in seven weeks HAD
brought about a sudden change in
continent toward the future price
movement. However, it was addi-
tjonal proof that public participation
n the Stock Market was on larger
scale than il has been in many
months.
General Motors Feature.
General Motors featured the early
trading. advancing to new high un-
der the same character of buying that
accompanied the upturn on previous
DAYS. But is reacted sharply with
other industriais, when the general
list turned reactionary. Mack Trucks
was carried forward TO best prices Tor
the year. Having earned 1925 snare
in 1925 il was not considered too high
in the present motor share market.
Others OF the group was subjected 10
profit taking. but losses were COLI
tined within narrow limits.
While selling was most persistent IN
the recent favoriteS efforts were made
TO check the decline by brIning new
leaders to the front Allied Chemical
was bid up three points to its best
for 1927. Stocks. in which the float
ing supply is known TO be small, or
where a good sized short interest is
thought to exist continued TO give
good account of themselves. This VAS
true of American Ice up i've points al
one time. Interna tional Comb. lst'oi''
in which a new pool IS reported 10 oe
operating ran up briskiT for a gain of
more than two poin-s eetUre the de-
lnand subsidized. Colorado Fuel ana
ron proved readily responsive 10
sudden demand and was pushed for
ward to its best prices at -. Inc
short interest in Industrial A.coaol
was still having difficulty in getting In
It's outsta nding contracts, although I'M
lrovement was not p-on9u he'd.
Steel Continues Higher.
Steel shares, which were brought
To the front in the late trading yes
tegiay, continued higher for time.
Eetheiehem reaching a new high for
the move Steel common held most
Of the time above 16o. but others
moved sympathetically with lrregu-
larity in the general body OF stocks.
The action IF Radio Corporation
shares following publication of the
favorable report for 1926 proved that
the Improvement had been pretty well
discounted. The ability of American
Locomotive TO earn its full 1926 COM
mon dividend requirements, whereas
in the previous year deficit was re-
ported on the preferred issue, was
reflected in a rise to new high prices
for the year in the stock. Baldwin
was lower most Of the session, but
with offerings comparatively light.
High-grade, dividend-paying issues
gave the best account of themselves
I'm the railway section. Canadian
Pacific, selling ex the $3.50 dividend
stood out strongly. Lackawanna and
Delaware & Hudson were conspicuous.
and st. Louis-San Francisco. which
had the incentive Of prospects for
large distributions following tomor-
rows meeting. continued in demand.
Merger rails were quieter than on
any day since the upward movement
got under way.