Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-26
BULLS STILL HOLD
SWAY ON EXCHANGE
Traders Unmindful of Credit
Strain-ImpreSsive List
Takes the Van.
BY GEORGE T. HUGHES.
Special Dispatch to The star.

Special Dispatch TO The Star.
NEW YORK, July -Undeterred
by the prospect of increasing credit
strain, prices advanced on the Stock
Exchange again today. Spectators
were not interested in the firmness in
time money. Their operations reflected
no concern over the increase in the
rates for bankers acceptances ANNOUNCE
ed Wednesday. They were content
with the comfortable supply of call
money.
Favorable trade conditions we're ex-
plotted to the utmost and the opposite
variety CLOSED over. At the same
time it must be admitted that the
stocks selected for leadership were en-
titled to respect. They included United
States Steel, American Smelling az Re-
fining Atchison, Delaware 81 Hudson.
Canadian Pacific and at times American
Telephone g. Telegraph.
Rail Shares Interesting.
The market for the railroad shares
was interesting in that fallings off in
earnings revealed in June income state
ments had no effect on prices. New
York Central reported both the lowest
gross and the lowest net this June iii
four years. The same statement can
be made for the half year as far as
net goes, although gross was lower III
1925 Ne .ertfkless Central was higher
today. Delaware az Hudson, like Gen.
trail, made more unfavorable state
ment than at any time In some years
back, but the stock at 1912 was up 5
points. OF course. there are special
A. ,ttSt F.,r la
interest In Delaware &; Hudson. but the
point Is the sanle--cnrrent earnings are
important marketwise only when they
show increases.
1t is possible to draw the same deduc-
tion from the action of the tobaccos and
the rubbers. The trade outlook In the
former is bright and the stocks were all
strong. the rubber industry is still
facing difficulties, but the stocks were
in good demand. especially Goodrich,
which reported so large loss for the
half year Wednesday.
Chrysler Commands support.
The independent motors which COM
manded support included Chrysler and
Studebaker Hudson Jagged behind, al
though it had covered the full years
dividend in the first six months and Is
Selling on q DeItcT IMAM per- ICut
basis. General Motors was little slow
in getting under way and so was Hupp.
Both worked higher IL the afternoon.
General Motors crossing 100 was at
the highest of the week.
The rise In Steel carried that stock
to the best of the movement, above l4l.
Bethlehem and the other independents
we're higher In sympathy. In the
mining section Patino was the feature,
responding to the increase in tin prices.
Among the miscellaneous industrials.
Allied Chemical was prominent and in
the speciality group Coty, Inc. was UNI
usually active at substantial advance.
Market Turns Dull.
The stock market turned dull in the
afternoon, with the ticker hardly NOV
ing. What activity there was was con-
filed To the oils. These were turned over
In fairly large volume and most of them
made advances. The gains were not
large because of the large capitaliza-
lions which are the rule among Oil
companies and because of the many
false starts which these stocks have
made
The immediate impetus for the move
In the oils was an advance In gasoline
along the Atlantic seaboard and high
CIR prices for crude oil In Texas,