Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-28
STOCK PRICES RISE
|. IN ACTIVE MARKET
List Advances Regardless Of
Credit ConditionS-Steel
Issues in Lead.
ny GEORGE r. HUGHES.

Special Dispatch TO The Star.
NEW YORK. August 2S.-~Stocks
pushed ahead merrily today. regardless
of money or any other restraining cir
cumstances The opening was Irregular
and hesitant, but that phase was soon
over and the advance resumed on
broad scale AS far as the tndustriais
were concerned Rails were dull but not
weak
steel stocks were the leaders, U. 5.
Steel was taken in large blocks above
1872 and at approximately the high OF
the movement. Traders were impressed
with the way in which steel had ne!o
during all the reactionary peflou II,
recent sessions. They were encouraged
by the trade news and hnatiy tIleIe
were still intimations Of something spe-
ciai in store for shareholders.
Steel Stocks Active.
Independent steel stocks were actlVeiy
bought Three of them went TO new
nigh records for the year. These were
Central ALLOW, Otis and Inland, Betn-
lehem Steel was strong and there was
a sharp run up in Colorado Fuel.
Merchandising and chain store stocks
ware active and strong. Woolwortn ran
nm some 4 points to approximately us
hest Abraham az Straus was announcer
favorite and Macy selling OK rights ildC
large turnover. ChhdS 20 il"u
a sudden upturn. to the accompahs-
ment of large turnover. Botn Multi
romerv- Ward and Sears koeouch le
gained a part of the loss oil the pre-
vious day. .,i.,,.od "a.
was CONSPICUOUS. The stock sold tode3
OK the 100 per cent stock distributor.
A urice of rs was therefore equlVaielt
n is2 for the old stock. the closing
n,ice If which was l48. BROOKLYN
Union Gas Jumped points. COLUMBIA
Gas was higher at times. There wac
talk of a stock split-up but no con-
Numerous specialties participated IN
the advance. International N1ckcl az
l07 was up over points. DINERS "
rain ground included National CASH
Register. Victor Talking Macnlne,
Fleischmann. which went 10 q new
high for the year at II. ana Brlegs
manufacturing. An exception was LoI''
inc. which broke points with par
tial subsequent recovery. More shor1
covering lifted the quotations for hoth
r,,hher common and preferred. the
preferred at 70 was up 3 points ana 10
points above the low OF the year
General Motors Fluctuates.
The motors did not do as we'll, Gen
eral Motors fiuctuated around Its preVl-
Gus close and most Of the Independents
were not Importantly changed
The market forged steadily anead III
the afternoon under impressive leader
shin, United States Steel sold only a
small fraction under its previous 1873
high of 1874, established April II. Cen
eral Electric advanced between ana
points. Even the motor stocks, which
had Jagged in the forenoon, worked
higher. -.
international Nickel extended Its
gains sensaticnally. AL 100 1t was
points above It's best previous price,
Offerings became smaller as the price
mounted. Public Service of New Jer-
sew stood out in the utility group. with
q gain of over points, National Bis
cult and Loose Wiles we're III demand
at higher prices
There were one or two discordant
notes. Freeport Texas took nose dive,
losing more than 4 points, only part
of which was made up On the other
hand. the express company stocks went
ahead vigorously.