Evening star., 1928-03-21
ADVANCES VIOLENT
ON STOCK MARKET
Victor and Case ThreShing
Features-Motors Again
at New High.
BY GEORGE T. HUGHES.
Dispatch 10 The Star.

Special Dispatch to The Star.
NEW YORK. March 2l.--The day
In the stock market resembled other
recent sessions. only II possible on a
larger scale There were violent ad
vances in the volatile specialties. great
strength In the standard industrials,
another enormous turnover and every
accompaniment OF speculative excite
ment.
Money renewed at A.. per cent. which
was a drop from the Az per cent rate
prevailing yesterday. Probably this
had nothing to do with the renewal Of
the advance. Probably a higher rate
would not have checked 1t. The one
all-powerful influence that inflamed the
imagination was the spectacle of ris-
ing prices itself The result was a
great mass Of overnight buying orders
to be executed "at the market"
Victor One Of Features.
Among the features at the opening
were Victor Talking Machine. Long a
trading favorite, it had closed yester-
day at practically the highest price
1t ever sold, up over points on the
day The opening sale this morning
was 10000 shares at 88, up over
points. Case Threshing Machine
started in with a very modest rise Of
3 points. but quickly mounted to 292
where the gain was II points. RoSsia
Insurance at 220. was up 10 points
shortly after the session began
Radio jumped around as wildly as
ever. It started in down points and
then ran up TO l62. new high for all
time. General Motors made new high
directly at the start on a block OF 5000
shares at '174i2. Before noon 1t had
crossed the IT'S mark. which was the
objective set for it long ago in broker
age houses.
Steel Swings Into Line.
1t was a little later in the day that
United States Steel swung into line.
The opening had been fractionally
higher and the stock had fuctuated
sedately around that price for an hour
or so. Then concentrated buying orders
appeared and on a single string of
transactions the quotation was rushed
across 148 for net advance of over
2 points.
There we're numerous other features
Hupp Motors was consistently bought
and was the leader of the independent
automobile stocks. Selling above 48 1t
was at the highest since the stock was
listed on the exchange eight years ago.
Standard Gas e. Electric was another.
II started in on a block of IL 900 shares
at 65. the previous high of the year, and
quickly bettered that price. Others
were Calumet and Arizona. American
Republics. International Match pre-
ferred. and Collins g. Aiknan. The last
named had an opening jump of over
5ia points.
Keeps Pushing Upward.
A little more slowly. but just as sure
ly the market kept pushing up in the
afternoon. General Motors lifted its
forenoon top above 176, General Elec-
trio sold above las at a new 1923 high
and American Smelling g. Refining was
bid up nearly points
There was a continual search for
stocks In which a large short interest
might be driven TO cover. The most
success In this line was attained in In
ternational Nickel. which ran up be-
tween 5 and 6 points. More atten-
ton was paid TO the rails Texas e.
Pacific at 1877 was at the highest on
record and Canadian Pacific at GIG
was within a fraction of its previous
peak for this year. Reading was in
demand and so, for a time, was New
Haven.
One striking exception to the trend
was U. S. Rubber, which was heavily
sold on intimations that objection
would be made TO payment of the pre-
ferred dividend at the meeting n.y.
month.