Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-07
TREND IS LOWER
! |NSTOCK MARKET
General Motors Pressed for
Sale Most of the Time.
Oil Shares Sag.

Special Dispatch to The Star.
NEW YORK, March 1.-The week il
the stock market began with an un
certain price movement and the selling
side most Of the time predominated
Liquidation made itself felt in proml
nent irdustrials and railway shares
carving prices off sharply in many
instances before support was en-
countered Except for few DAYS OF
interruption, the main body or STOCKS
had been moving forward Tor Amos.
five weeks. The reactions which set
in last "Wednesday and again during
she closing session of the week mao
not proved sufficient as corrective
measure.
A good deal of the speculation cen
tered in the motors, with General MO
tors pressed for sale throughout
good part of the time. After deciln-
ing . points to 165 the market nara
ened. but buying was carried on Win
a. good deal of caution. Motor Access
sories continued to feel the unfaEor'
able effect of the recent reduction III
the Stromberg Carburetor dividend.
Warner and Timken Offered.
Stewart Warner and Thinker Roiler
Bearing were freely supplied at de-
cline of a point and more. Hudsoh
Motor, however, again moved con
trarv 10 the general trend and estab-
lisbed another new high for the year
above 20. Anxiety over the posslbll-
itv of general price cutting in the
motor Industry during the coming
months was less in evidence and pe-
lief appeared to be growing that the
better grade companies were planning
70 use as an offset extensive advertls-
ING campaigns with view to mann
tanning high production and sales
schedules.
The market for the oil shares was
not belned nv the latest developments
IN the Industry. The rather substan'
tial increase reported in California
crude production during the week
ended March and the ACCOMPANYING
general downward revision or Mid-con
tinent crude price schedules brougnt
further liquidation into sucn STOCKS
as General Asphalt. Pan American
up {. Standard of California and Phil
lips Petroleum.
The report of Marland Oil for the
wear 1926, while it was considered sat
isfactory, did not come up to the most
sancuine expectations. Mariana lost
more than a point before support was
encountered. Houston Oil, however.
was the outstanding feature so far as
the price movement was concerned.
Glowing estimates of what lies ahead
for the company during the coming
year have been responsible Tor the
spectacular upturn recently. But 10.
day heavy profit taking mace ltseu
felt. carrying the price down more
than S points when it changed hands
below ia:
Steel Resists Selling.
United States Steel resisted the sell.
Ing, possibly because of the disposl-
ton to do nothing until more definite
indications come to hand concerning
the dividend rate on the additional
stock. 1t was selling above 157 most
Of the session, where it was up rrac-
tionaIIy from the Saturday final. The
decline in Crucible Steel was compare.
lively small, taking into consideration
the extent of the recent upturn. he.
public Iron and Steel lost almost
points. and Bethlehem was fraction
ally lower. 4
United States Rubber was offered
at lower prices, but more attention
was paid to the improved condition
of the rubber market than to the dis
closures in the annual report. The
special operation in international
Combustion was suspended. at least
temporarily, and profit taking carried
the price off sharply at intervals.
Covering orders came into the market
for Continental Baking Class A fol-
lowing last weeks selling, resulting
In a recovery of almost points.
The equipments were taking their
cue from action of Baldwin, which
was pressed for sale most of the ses-
sion. General Railway Signal and
Pullman were prominent in the sell
ing during the first half session. but
later hardened.