Evening star., 1927-05-09
STOCK LIST PRICES
IMPROVE FURTHER
Some Selling Pressure Noted
in 0iIs-UtiIity Shares
\ Are Prominent.
BY GEORGE T. HUGHES.
tpecial Dispatch TO The star.

eprcial Dispatch 10 The star.
NEW YORK, May 9.--Further i'm
rrpvement in prices was registered In
today's market by the stocks which
had been the favorites all along. Trad
ers were encoura ged by the fact that
money renewed at 4 per cent, that
time funds were in supply at some
concession from recent charges, and
, that the calling of the Second Liberty
y Loan seemed to forecast long period
Of credit ease. There was more talk
about a reduction in the rediscount
rate which was an influence.
More important. however, was the
way in which quotations responded
TO buying orders. Only here and there
were there any indications OF weak
ness. The oils were under pressure
from time to time and one or two IN
dustriaIs were lower. but the general
appearance Of the market was one of
sustained strength.
/, Utilities Are Prominent.
> The utilities were prominent from
the start. This was especially true of
rhe New York City Gas, Electric Light
: & Power and fractions stocks
Hrooklyn Edison and Brooklyn Union
Gas both went to new highs for the
: year. Consolidated Gas was strong
and there was a persistent demand for
Observation-Disclosures Transit at high.
or prices. Hudson & Manhattan climb.
cd to the highest point in its history.
As far as the fractions went, the
belief was that the situation was
working out better than had been ex'
pected. Brooklyn Manhattan, the
leader in the days advance, is also
able to show a steady increasing net
income on a scent fare, so that even
if there is no improvement in the
general outlook there was warrant for
the movement. AS for the gas and
power stocks, their high investment
merit is enough excuse. Western
Union, Intarboro Rapid Transit and
Manhattan modified guarantee were
other stockR in this group in favor
today.
National Biscuit Rises.
The conspicuous industrial was Ma
tional Biscuit, which had a spectacu-
lar rise. Today's price was the high
est since the par value was changed
in 1922 and four new shares issued
for one old. Eastman Kodak made
new high for the year, also evidently
on investment buying. American
Radiator was still another strong
issue in this same general class to
! make a new 1927 top. Against these
advances could he set only the heavi.
ness in United States Rubber, which
made new lows for the year.
Selling in the oils was probably
+ based on the idea that the recovery
!. had gone far enough considering that
.trhere had been SO little Improvement
.,jn trade conditions. With a. good pro-
portion of short interest eliminated for
, The time being these stocks showed
themselves again sensitive to pres.
sure. Practically all the active issues
slipped back for loss of a point or
more before support was encountered.
The only news was that of efforts in
California to curtail production.
Hudson Motor was the favorite in
the automobile group. 1t ran up
! easily to a new high for the year, re-
spending to favorable reports as to
second quarter earnings. Some of the
lower priced motor shares were in
Vigorous demand, notably Hupp, up
Fat one time over a point. The Wall
FStreet attitude toward the motor
.jstocks has become more optimistic as
reports of satisfactory Spring busi'
ness have been f1ltering lin.
Rails More Irregular.
Railroad stocks were more irregu
lar. In the first half of the day some
of them were very strong, but the
gains were not all held to the end.
Baltimore & Ohio at 124 was higher
than anything seen in more than 20
years. In 1906 it sold above 125, which
was the best in it's history. Chesa-
peake G. Ohio made a new top for
-the year, and substantial gains were
scored by Delaware & Hudson, Union
Pacific, st. Louis-San Francisco,
Wheeling & Lake Erie preferred and
Texas & Pacific.
Colorado Fuel provided the strong
spot in the steel class. 1t added some
3 points more to it's 10-point gain of
last week, eventually establishing
new high for the movement. Greene
Cananean, in much the same fashion,
took the leadership of the coppers,
also going to a new top for 1927.