Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-07-15
STOCK LIST. SCARS
IN EARLY TRADING
Drop in Brokers' Loans Re-
news Confidence - Some
RecessionS Come Later.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.

SpeCiAk DISpALCN TO Inc star.
NEW YORK, July 15.-The main
body of stocks moved up spectacu'
larly in the stock market today,
which characterized the first hours
trading could not have been expected
to carry through at the same rate
and as the session progressed profit
taking sales caused recession from
time to time in the prominent favor
ties.
Speculative Wall Street had been
anticipating a reduction in brokers
loans during the week ended July IL,
but it had not been prepared for such
large shrinkage of more than $6I,-
600 900 from the preceding week. This
disclosure indicated the technically
sound position Of the market and in
spired renewed confidence despite the
improvement which had occurred
earlier in the week.
Credit Position Strong.
That the credit position was un.
Usually strong was further evidenced
by the fact that the New York Fed
| eral Reserve Bank ratio on the same
date stood at $40, against 83 per cent
a week ago and 1914 year ago, Whlie
the system as a whole was placed at
| IS per cent, against 1858 the previous
week.
limited States Steel, above 1854,
was selling at the highest since the
DO ner cent stock dividend distribu-
tjon came off the price. General Mo-
tors. crossing 2O615, established new
ton for the wear. AS had been the
case on the previous day, the heavy
demand at rising prices for these IN
1ustrial leaders encouraged renewed
attempts to work for continued I'M
provement in other quarters.
Railway shares, especially nigh
grade issues of the investment type
were carried up a point to more tnan
2 points with Atchison, Illinois Cen
trail, Union Pacific and New York Cen
trail the favorites. Operations Tor the
rise got under way again in Lemgn
valley. while New York. Ontario &
western was in demand among the
lower-priced issues. Interests which
had favored higher prices Tor the
rails for some time past were predlct-
ing one of the most active campaigns
in the railway share market ana were
basing their contentious on the highly
prosperous condition Of the railroads
as a whole.
Shares of distrbiutiye companies
were brought to the front and bid up
sharply. some of them to new high
prices for the year. .Woolworth, above
152. gained 2 points. and kresge De-
partment Stores was a point or more
higher. Lambert Co., at new high
price for the year, was responding to
the favorable rate of earnings and
what this is likely to mean for stock
holders later on.
Baldwin Surges Upward.
There appeared to be no top for
| Baldwin Locomotive. Arond 249 it
was at is highest for all time and
compared with yesterdays final OF
240A. General Railway Signal es'
| tablished a new top since 1t was list
ed on the Stock Exchange in 1925.
The coppers came in for considera'
BILE attention. Greene Cananea at 4s
compared with it's previous high OF
| SIX in 1918. Anaconda more than
retraced the dividend deducted from
the price today. and CRANKY Consoli
dated was up more than a point. Sen
timent was Influenced by the favora
BILE figures on copper consumption ir
the first half of 1927, although there
was still the unfavorable price situa
| ton to contend with.
| Hudson Motor, Nash and Stude.
baker moved forward sympathetically
| with General Motors, but the buying
| of the lower-priced issues like Jordan
and Dodge was for some special
reason.