Evening star., 1927-09-27
BEARS DOMINATE
STOCK DEALINGS.
Bulls Meet Only Temporary
Success in Attempts to
Rally the Market.
By GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, September 27.-The
kolling again predominated in today's
stock market. Attempts to rally the
market by bidding up first one set of
stock and then another met with
Temporary success. but only tempo.
rarv. After each recovery the selling
would be renewed and generally a
Tractionally lower level touched.
The feature of the day was really
the persistent pressure on United
Etates Steel. There was no weakness
and the losses were never at any time
large on single strings of transactions,
but the sagging kept up. Steel made
new low on the movement today,
The lowest since the week of Septem-
ber 10. Colorado Fuel and Iron and
rrucihle were the weakest of the in
dependents, but Bethlehem was lower
also.
Steel News Encouraging.
The news from the steel centers was
more encouraging rather than the
npposite, The Steel Corporation was
stated to be operating between 65 and
s6 pcr cent of capacity, against the re-
rent low of 64 per cent, and moderate
Increases in output were reported for
the independents. The market, how
hver, was taking cogniZance not OF
higher rate of operations, but OF the
probable showing in third quarter In.
rome statements. Talk of increased
dividends or of restoration to diV1'
hrnd basis for certain of the independ'
fntS ceased.
The action of General Motors para.
Eelled that of United States Steel. Both
lhe new and the old stock made new
lows on the current reaction, just as
Eteel did and at about the same time.
Here, too, there was good support on
the decline and never any rush to
Fauidate. Shares of the independent
motor companies were irregular, Nash
advancing, while Hudson was yielding.
t.ack Trucks was actively bought at
Intervals.
The behavior of the rails was fully
ts uncertain as that of the industrials.
For a time the low priced issues were
IN supply, examples being Western
tIaryland and Missouri Pacific. Then
q buying movement set in in New
Haven, with that stock turning very
strong.
New Haven Earnings Favorable.
This was logical enough. as New
Haven is one of the few roads to make
q favorable comparison in its August
statement with that Of the same month
year ago. In the seasoned dividend
paying class, Atchison moved through
an unusually wide range for that
stock, first up, then down again. New
York Central was fairly steady most
of the time and so was Chesapeake
Ohio.
AS on Monday. the utilities made a
better showing than any Of one group.
Some of them made new high records
of one kind or another and among the
leaders were North American, Com
n1onwealth Power and National Power
& Light. Not all the gains were re-
tanned, but there was always a more
confident appearance to this part of
the list than anywhere else.
Business fell off substantially from
the total of recent sessions. Partly
this was due to the diminished at
tendance on the floor owing to the
Jewish holiday, and partly to the diff
ticulty the most astute of traders
found in determining which way the
market was going.
Trading dragged along in the early
Afternoon. with neither side anxious
TO take chances. Mack Trucks was
up in Houston Oil, but the standard
investment shares fioundered about,
getting nowhere at all. General Elec-
tric ranged most of the time a point
Or more under the preceding close,
while Steel was selling small frac-
lion above the last price of yesterday.
The only certain deduction was that
the comeback after the break in the
last hour yesterday was surprisingly
small.