Evening star., 1928-11-20
STOCKS co HIGHER
IN ACTIVE TRADING
Market Swings Upward al
0pening-Du Pont and
Radio Are Features.
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, November Eclipsing
all previous performances, speculation
on the New York Stock Exchange to-
day presented the most amazing spec
tacle yet witnessed in all this great bull
market.
Not only were the advances violent
beyond ali precedent, but the facilities
for trading were hopelessly Swamped.
up until / o'clock there had been re-
corded on the tape sales of 2,735, 200
shares, but as a matter of fact at noon
on the floor the actual trading had ex-
ceeded 100000 shares or al a rate
which, if kept up, would mean total
of 100000 shares. In midafternoon
the tape was 95 minutes late. Up until
today the record for volume was
6,733, 500 shares, made on last Friday.
Radio was again the star performer.
1t rose by leaps and bounds. 1t had
Jumped 80 points net Monday. Today
selling IN the fourth hour at 363 it
was up 36l2 points more. Apparently
there was no limit to the price unfor-
tunate shorts had to pay.
Gains Are Striking.
There were numerous other striking
gains. Wright Aeronautical at 213 was
up IL points. Curtis Aero at 147A
was up 8 points Greene Cananea
above TIA was up 8 points Nor were
these exceptional More or less the
majority of industrials participated.
When profit-taking brought minor re-
actions in this part of the list, specu-
lation would shift to the rails anC these
! would be whirled upward.
Heavy profit-taking in the last hour
carried prices down not only from their
early highs, but in a few instances to
show losses on the day. The tape fell
farther and farther behind until it was
los minutes late.
Among the stocks on which realizing
converged were Montgomery Ward at
AIT, off points net; United States
Steel at 1863, down 1S points, and In
ternational Nickel, at 1872, down 23s
points.
Many other stocks lost part of the
early afternoon advance, but were still
much up on the day. Radio at 352 was
down 16 points from It's best, but over
| 20 points from the preceding close. The
! turmoil on the floor was just as great
| and excitement In the brokerage offices
| just as intense.
The market started in strong with
| all the active stocks scoring gains.
| There were, of course, issues which did
not participate, but even they did not
sell off. On the other hand, the gains
were extreme. For example, Du Pont,
| which had closed at 440, before noon
was selling at 430, up 40 points; Case
+. Threshing Machine, which had closed
at 449, was selling at 479, up 80 points,
| and Radio. which performed so spec
| tacularly at the close on the day before,
had gone from 33l12 to 355 for gain
of 23Ha points.
Ever, MORA evtronrdinarv although
! not by any means SO spectacular, was
the rise In Standard Oil of California.
| Normally this is a sedate stock. There
are 1884 ,098 shares outstanding, GER
! tainly enough to go around 1t closed
yesterday at 69R. Starting in slowly,
| 1t gained momentum during the first
| hour, finally touching II before noon,
rise of more than points and new
high for the stock of the present COM
| pany.
Then there was urgent bidding for
Northern Pacific, which ran up to 116.
This was the highest price since 1916,
when the stock was paying per cent.
Great Northern certificates went along,
! coming close to parity with the unde-
posted stock Although it has been
said that no change would be made in
| the dividend rate by either of these
ROADS prior TO decision Dy the inter-
state Commerce Commission on the
| merger application, the Street today
seemed to believe that some important
development was pending.
| Rail Shares.
New York Central, Canadian Pacific,
Nickel Plate and Union Pacific were
other high-grade rails in favor. In the
lower priced list Western Maryland
| jumped points, Erie responded to its
very favorable October earnings state
ment and Kansas City Southern swept
ahead into new high ground
The copper stocks were still centers
Of interest. Anaconda was the leader,
an insiStent demand forcing the price
above ia to new all-time high. Chile
| Copper made the same kind of record
above u and new highs were eStab-
liShed by Magma and Greene Cananea.
The last named at l72 was up almost
8 points.
Most of the steels and most of the
motors were little changed in the early
trading. Republic Iron Steel was an
exception, with rise of points to a
new top. There was further selling of
Interboro stock on the postponement of
a decision at Washington on the 7-cent
fare.
Money renewed at 61s per cent, and
was only in fair supply. The tape fell
AZ minutes behind, which was not q
| bad showing considering the apparent
| aNtfVifU Of fho V,Na riraf