Evening star., 1927-04-21
STOCKS ADVANCE;
SOME SHARES SAG
Striking Changes on Up Side
of Market by Weak Spots
Are Uncovered.
ny GEORGE Il. HUGHES.


Snecial Dispatch TO The star.
NEW YORK, April 2l,--The stocl
market was again d two-sided aifan
today. ON the one hand, the reduc
tion in the Bank Of England rate ans
talk that similar acton would follow
on this side in the near future encour
aged operations for the rise, On tht
other hand, the seasonal let-up In th1
steel Industry and the uneven pros
neritv in the motor car trade were re-
flected in the price movements OF the
stocks concerned. The striking changes
were on the side Of advance, bur there
were numerous weak spots.
Railroad shares came into promt
nence ut the start when Rock Island
crossed par for the first time since
the reorganization. wall street eN
pects an increase in the Rock 4siafu
dividend rate sooner or later, ana
earnings seem TO give support To the
suggestion, although it is such short
tinae since disbursements were init
ated that the directors may think ii
prudent TO postpone any raise for
some time.
Frisco Rises Sympathetieally.
st. I.ouis-San Francisco. which has
the working interest in Rock Island.
went up in sympathy. Shares Of the
Southwestern roads were still IN
favor and St. Louis Southwestern
crossing Is sold at the highest i'll ITS
history. Texas AID Pacific was
rushed up also above anything record
ed before. Chicago and Eastern
Illinois preferred added TO its spectac-
ular gain of the day before, in this
case merger prospects being the Only
possible explanation, In the seasoned
dividend paying group Union Pacific
made a new high for the year and
Atchison sold at its previous high.
The reactionary section of the mar
ket was found among the steel stocks.
For this the let-down in production
emphasized by the trade reviews and
the lower earnings for the first quar-
ter reported BY Youngstown Sheet *
Tube were, of course, responsible.
United States Steel went off 4 point
early in the day, but rallied somewhat
later. The selling of the Independents
9was more persistent, with Youngs-
town the chief sufferer, although
Grueible, Republic Iron 4 Steel and
Bethlehem Steel also were lower.
Most of the oils showed a sagging
tendency. The exception was the al
ways sensational Houston Oil. which
Opened for block Of 1000 shares at
an advance of over points. part Of
the gain being lost subsequently,
Fluctuations in this stock are no
.longer in any degree representative Of
sentiment toward the oil stocks.
Marland and Phillips turned weak
again, declines ranging around a
point or more. The street was looking
forward to the second quarter re-
ports, which on the basis Of prevail
ing prices for crude oil and gasoline
are not likely to make as good q
showing as in the first quarter.
Motor Stocks Irregular.
Motor stocks were irregular. Gen
eral Motors went through its usual
performance, making a new high
early in the session, hut it did not
carry along with it many Of the other
motors Dodge Bros. was heavily sold
and White Motors gave way easily.
The first quarter report Of Dodge,
made public today. showed 8 cents a
share for the combined class A and
class B stocks after preferred divi-
dends.
Mack Trucks was down fractionaly
for time and in most of the other
motors buying was very cautious.
There were some very strong indus
trials. General Electric made new
high for the year continuing to ignore
the dropping off in untitled orders
Woolworth and Coca Cola pushed
through their previous highs. The
same was true Of Montgomery-War
Brooklyn Union Gas was the leader of
the utilities making a new top above
96. Consolidated Gas was strong also
and the two were connected in the.
speculative gossip of the day.