Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-03-18
STOCK RISE HALTED
BY P20F|T-TAK|NC
Final Prices IrreguIar-voI.
unIe of Trade Near Record.
Steel Leader.
Bv the Associated Press

~ Tue ASSNfF4fCG FFrss.
NEW YORK. March l7.--The spec.
facular advance in stock prices. which
mas been under way. with few inter.
fupti0nS for 10 days. was checked TO-DAY
ny profi;-takinG Final quotations were
oecidedly irregular, long list of gains
ranging from 10 : points being Offset
ny almost as many losses Of similar
extent So great was the volume Of
realizing in the last hour that the
ticker was 20 minutes late in recording
The final transaction. Total sales
crossed 100000 shares, but fell about
$4,000 shares short of the Saturday
record established a week ago.
There was nothing in The week end
news To influence the price movements.
bat all sorts Of rUmorS involving special
stocks were again in circulation, The
weekly mercantile reviews emphasized
that the Spring expansion in trade
had failed 10 come up to earlier ex-
pectations but q more cheerful view Of
the situation was taken by some Of the
bank reviews
Rails Again Bulwark.
Railroad shares were again bul-
warS Of strength in the early part of
today'S market. but Welded with the
industrialS in the late selling move
n'ent New York Central. after ap-
preaching within = Of point of the
record high for all time of l741s estab-
lShed N 1901. sold down TO l7ll4 for
8 net loss Of points on the day. Read
ing advanced more than , points 10
l073s. the best price since 1907. but
lost half its gain. PENNSYLVANIA. Jer-
sey Central, Southern Railway. North
EN- Pacific. Lackawanna. Great North
ern preferred and St. Louis Southwest
evn. ali established new maximum
prices for the yc2~.
General Motors was again the out
standing feature in the industrial
division touching a new high record
a. liz and then falling TO 1881. clos
ing Just above that level for a net loss
OF ]. point on the day. Chrysler,
Hudson and Mack Trucks lost point
or 50.
Radio. which is still under investiga-
ton BY the New York Stock Exchange.
f1uctuated within range Of points.
closing IL points net lower at l4l.
American Linseed. another recent spec
tacular feature. also quoted down con-
siderably, but closed a point higher at
3d.
Continental Baking "a" fell back
about points on the omission Of the
quarterly dividend. Conspicuous heavi-
ness was shown BY American Tobacco.
Bsyuk Cigars Burns Bros. b" Free
port Texas. General Gable "A" Houston
Oil. International Match preferred,
Midland Steel Products. Union Carbide,
Vsnsdium Stee! and Wright Aero
nautical
International Telephone Feature.
International Telephone and United
States Cast Iron Pipe. each up points,
led a long list OF new highs in the in
ciustrisi group. which included Corn
Products Refining Engineers Public
Service. Sinclair Oil. du Pont, Fidelity
Phenix Insurance. marlborough Rapid
Transit and Manhattan Electrical Sup
ply United States Steel common
closed al net gain of Is at l477s
after having touched l48a4.
A brisk rally Of IS points in Portu-
gIlcse Escudos. which touched AIS
ccnts. featured All otherwise quiet for
eiEn exchange market Sterling cables
held stesdy AZ S4S7 j5fi6. J
The weekly clearing house statement
showed excess reserve OF s45 ,308lG0. =
compared with a deficit in reserve of
s5.02f.s30 last week Aggregate re-
serve totaIed SLOT 1853. 600, The detailed
Statement Of actual condition this day
showed increases in most Of the prin-
cipal stems Loans. discounts and in
vestments gained S58.428.000. reserve
81 the Federal Reserve Bank Of men,
Der banks $50 4o4 600, net demand de-
posts s7S.e52 600 and time deposits s4.-
Sit 600 Cash IN own vaults showed a
shrinksge Of s3.i4z. 900.