Evening star., 1927-04-25
STOCKS IN BREAK;
SELLING IS BROAD
All Groups Suffer, Including
. RaiIS-S0me Exceptions
Are Found.
BY GEORGE II. HUGHES.


NEW YORK, April 25.--The stock
market experienced today the sharp
est break it has had in weeks. Sell
ing got under way directly at the
start, and before it subsided losses
were nearly universal. All groups suf-
fered, not excepting the rails, which
pmarket commentators have always
said were in better position to with
stand Hauidation than the industrials,
Ii is true that there were exceptions,
hut they were not found in any one
Esclass Rather. they We're scattered
throughout the list. The general
trend was downward, and unmistak-
ably so.
1. WAL Street had the increasing seri-
BUSINESS Of the Mississippi Valley flood
TO appraise. and there were more dis
hcoura ging reports about the oil indus
fry. but it is doubtful whether the
: news Of the day was SO much Of a
1fctor in the market as was the week
end technical position resulting from
so prolonged an uninterrupted rise
There was no change in the money
situation Call loans renewed at 4 per
cent, and SO that was not a factor.
Motors Selliug Down
RI Selling in the motors carried the
price of all the leaders down substan-
fially. Nash Motors was especially
weak. making q new low for the year
as it dipped under g.. Hudson. break
ing to ~, was down two and one-hah
points. Studebaker, under So, was off
one and one-quarter points and the
Dodge issues sold around the lows
established last week. General Mo-
tors, which had closed above 1913,
slumped points in the first half
of tile session. Du Pont. which has
so large an interest in General Mo-
tors, and usually moves in sympathy
with that stock. was down at one time
7 points. Offerings became more
urgent as the decline extended.
( The weakness in the rails attracted
even more attention than did that in
the industrials. The one stock which
was able for time at least to stem
Z the tide was Delaware & Hudson.
Early in the day it had 5een very
strong, jumping points to 215,
where it was higher than at any time
since 1907. When, however, the gen.
eral market came down Delaware &
Hudson receded from its early high.
Otherwise the rails We're pressed for
sale, including even such seasoned
dividend payers as Atcllison, New York
Central, Reading and Union Pacific.
Rock Island, one stock which might
be supposed to reflect the flood crisis,
sold off with the rest. Nor did the sell
/ ing spare the low-priced issues. Mis-
Kansas-Texas, which was a lead
+ er in this group last week, broke 2
points and Missouri Pacific. New Ha-
ven and Gulf, Mobile and Northern
went along.
Oils AcuteIy Weak.
The oils We're acutely weak, al
though here there We're no overex-
tended long interest. Nevertheless new
1927 lows We're made by Marland,
Phillips, Skelly, Standard of California
and others. The Marland first quarter
report showed net for the stock equiv
alant to 8 cents a share compared
with S179 for the same period a year
ago. 1t was not earnings of the first
three months, however, that the mar
ket was looking to, but what the Sec
ond quarter would show.
Steel shares were lower with the
rest, but the selling was better alb
sorbed. Gulf States Steel at one time,
was higher on the day and support
appeared when Crucible and Youngs-
town sold off. Colorado Fuel f1uctuat-
ed through a wide range, but with
the selling side predominant. Most of
the other industrials wens in supply |
General Electric stood out as a strong
spot, rising to a new high but react |
ing somewhat later. Commercial Sol |
vents 'B" declined perpendicularly for
a loss of 10 points or more. There |
was one strong utility, Brooklyn |
Union Gas, in which special buying |
was evidently going on.