Evening star., 1928-11-17
STOCKS IRREGULAR
IN ACTIVE MARKET
Week End Profit Taking
Confuses Price Movement.
Trading Heavy.
BY GEORGE T. HUGHES.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. November 17.-With
SPECTATORS who had purchased stocks
early in the week fastening to realize,
and new buyers eager to share in the
profits to be made in the greatest bull
market of all history coming into
violent collision, stock prices today
showed a confused movement. Some
times the buyers had the better OF 1t
and sometimes the sellers.
The volume In the first hour was
still very large, but not quite up to that
of the day before. Those still COM
mitted to the so-called constructive
side took this as good sign. They
welcomed some letup in the pace. Still
the difference was so small as not to
be Of any great significance and left
the future of the market as uncertain
as ever.
The striking features today, as in all
other recent sessions, were on the side
of advance Radio was an example. 1t
started in on block of 1000 shares at
800, a figure never before reached, re-
acted points to 293 and then shot up
ward to 303. American reieLtOne q
Telegraph went through a somewhat
similar series of fluctuations. 1t had
closed at 1857 Friday. The opening
price was 200, after which it declined
to where it left off the day before.
Merchandising Stocks.
May Department was the leader OF
the merchandising stocks. 1t jumped .
points at the start to 10l on block u
1000 shares, making new high rec
ord. Montgomery Ward sold at It's pre- p,
yiouS top, but met stock around that
level. National Bellas Hess, on the other
hand. swept forward into new high
grounds. !,
The public utilities were represented
by Consolidated Gas and Public Service
of New Jersey, both at new tops ana
both turned over in huge volume. In
ternational Telephone & Telegraph ran
up in sympathy with American Tele-
phone.
In the steel group Bethlehem was the
outstanding leader The demand was
urgent and the stock pushed ahead
steadily, touching 81 in the first hour,
the highest since 1920. Sioss-Sheffield
participated to the extent OF or
points. United States Steel opening
practically unchanged made little prog
ress. Many of the equipments were
quietly bought, including American
Locomotive. Westinghouse Air Brake
and American Steel Foundries. The
fertilizer stocks we're strong, under lead
ership of American Agricultural Chem
ical and Virginia Carolina.
There was consistent buving OF the
oils most of which did not figure in the
VIC ent advance of Friday. New high
records for the year were established by
She'll Union, by Phillips and by Stand
ard Oil of California. Against these
advances were moderate declines In
Sears -Roebuck, in General Electric and
in Kennccctt Copper Andes Copper was
consistently bought, crossing Al to a
new top since listed.
Many Declines Listed.
Railroad stocks were not especially
prominent. More interest was taken in
Northern Pacific with advances in both
the certificates and In the undeposited
stock. The buying reflects belief IN a
favorable decision on the merger plan
now before the Interstate Commerce
Commission.
The market left off with mixed price
changes, but there were more declines
than advances. Out of Al active stocks
80 showed losses at the end and Is
advances The feature was Mont
gomery-Ward, up 10 points at 424, re-
spending to the optimistic statement
credited to a large operator. Packard
was we'll supported, leaving off at a
new high around the best of the day
at 121. National Dairy Products was
also strong at the close and so was
Radio, both of them new high ground.
Among the stocks that showed losses
were Allied Chemical, down more than
4 points: Curtiss Aero, off about as
much; Wright Aeronautical, down 2ia
points: United States Steel, down III
points at 171A; Canadian Pacific, down
11a at 232; New York Central, down
l1a at 1874: Kennecott, down 13s at
1924; General Electric, down 17s at