Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-07-25
LIST
| OF STOCKS STRONG
Impressive Leadership Gives
Market Good Upward
Swing Today.
EY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, July 25.--Under leader
ship that made it look impressive the
stock market turned sharply upward
today The volume was only moderately
increased but the buying centered upon
shares of investment merit.
Developments in the trade field were
practically all favorable. If there was
anything adverse the market ignored
1t in that very respect, showing
change of sentiment. In the first place,
car loadings for the week ending July
IA, published today, showed gains over
the corresponding week in 1927. Only
twice before has this comparison With
results a year ago been favorable. 1t
gave substance to the hope SO often
expressed that from now on railway
traffic will steadily increase. 1t was
not expected that the result OF 1926,
which was the banner year, viii be
equaled but at least there will be no
continuous decreases from those OF 1927.
Steel Reports Encouraging.
In the second place reports from the
steel trade were unexpectedly encourag-
ing Operations of both United States
Steel Corporation and of the independ-
ents have been stepped up. Steel stocks
today were among the strong features.
United States Steel crossed lao in
volume taking along with it Colorado
Fuel &c Iron, Gulf States, Republic
and Bethlehem. The quarterly report
of the last named is scheduled for
publication tomorrow. 1t is expected to
show anywhere from $3.50 to SITS a
share on the common against "a cents
in the first three months of the year.
General Motors recovered entirely
from the display of weakness attributed
10 the Raskob resignation. American
Telephone & Telegraph which made
new low for the year only few days
ago, was in active demand Rights to
subscribe to the new stock viii expire
a week hence. They will doubtless be
exercised except for an insignificant
fraction. Public utilities were strong.
Instances were Consolidated Gas. CO.
lumbia Gas and International Tele-
phone & Telegraph.
Specialties Also Rise.
I'ne snecialties followed along after
tie standard stocks. Wright Aero
nautical. Curtiss and Radio ran up
against the short interest. The heavy
loss lcve5led in the six months state
ment OF the B. F. Goodrich Co. was
regarded as bad news out of the way"
and the stock rallied after its publica-
ton. Warner Brothers Pictures "A"
In which there has been extravagant
speculation. reacted, but that was not
at all typical,
The rails we've not as active as the
industrials, but the conspicuous changes
were on the side of advance. Rock Is
land was bought on the theory that
earnings warranted an increase in the
dividend rate. Stocks of roads operat-
ing the Southwest were in favor be-
cause of the crop outlook in that sec
ton
Money renewed at So per cent UNI
changed and was said to be in COM
Portable supply.
The market continued strong In the
afternoon. General Motors increased
Its gain until 1t was selling more than
3 points above yesterdays close Gem
eral Electric crossed $50 for the first
time in over week North American
reflected the annual report showing
record high earnings There was a
spirited demonstration in Paramount
Famous, where the yield at 1873 was
over 6 per cent and the dividend
amply protected by earnings,
Atchison assumed leadership of the
high-grade rails.