Evening star., 1927-05-11
ISTOCK LIST STRONG
IN TRADING TODAY
Nickel Plate, Houston, South
Porto Rico Sugar and
Hudson Leaders.
BY GEORGE II. HUGHES.

Special Dispatch TO The Star.
NEW YORK, May 1.-THE uncer-
tain tone exhibited by the stock mar
ket Yesterday was no longer III evil
dence when trading was resumed 10
day. Instead all the activity was on
the side of advance, and, Whiie q Soo9
uanv issues which had been favored
recently We're dull and neglected, buy-
ing in other quarters went ahead con-
fidently.
The feature in the railway list was
the rise in New York. Chicago and st.
Louis. Buying of Nickel Plate was
direct response to the announcement
of the formation of the CHESAPEAKE
CORPORATION for the segreg2 ton OF lile
shares of Chesapeake q ONO oWneo
bv the New York, Chicago ana 81
Louis. The market interpreted TINS
move as a benefit to both roauS anu
an expression of faith in the approval
of the stock-control plan now before
.he Interstate Commerce Commission.
Cbesapeake & Ohio was firm around
Yesterdays close.
Southern Roads Share Gain.
Elsewhere in the railway group
shares Of the Southern roads were
uoticeahly in demand. Atlantic Coast
Line and Louisville & Nashville were
the leaders here. with the last name"
making a new high for the year. Sea-
board Air Line and Southern liali-
way stocks did better also.
Short covering in the oils was an
other DEVELOPMENT of the session. All
the active stocks were higher, and IN
some cases the gains ran to point
or more. Houston Oil, as usual, went
IN easier than the others. The only
exception was National Supply. which
Jagged off. perhaps on the theory That
there is to be less demand for OIL
drilling machinery 1t was announced
that leaders Of the industry were con-
.crring on the overproduction prom
lam. and this helped along the buyihg
of the stocks of the oil-producing
companies. In addition gasoline prices
7,ardaned and an official of one of the
Standard Oil companies was quoted
no saving that by the end of the sum
rller reserve stocks will be heavily de-
pieted.
decentralization plans and merger
prospects figured largely IN the BID
eng up of the industrials. South For
20 Rico Sugar had spectacular al
yance. more than canceling the loss
re the day before. Today's rise was
~ anticipation of the capital splt-up.
! MON Bag and Paper was another
anSationaI performer, WIN Il jump
e over six points. Coco Cola scared
a new high for the present shares:
Z ase Threshing Machine and United
.7ruit were two others in brisk de-
,,and. Each went to new 1927 top.
United States Rubber, which had been
Under pressure earlier in the week,
,allied sharply, but Foundation Co.
tropped to a new low.
EI,,deo,, EfanIr CnarS
The star actor among the motors
vas Hudson, which scared between
tree and four points almost directly
1t the start. For a time shorts in
{ lis stock were evidently bidding
rainst each other in their efforts TO
Ike in their contracts. Probably the
s2me was true of Lorillard among
he tohaccos, which went up easily,
and of Baldwin in the equipment list.
Most of the utilities were strong ur1-
der the leadership Of Consolidated
Gas. American Telephone Tele-
raph responded to the good showing
the first quarter earnings state
aent. Montana Power ran up above
,9ar. Brooklyn Edison. selling eX the
ghts to subscribe to the new stock,
vas slightly lower.