Evening star., 1928-04-26
RAILS AGAIN LEAD
TRADING IN STOCKS
Buying Confident - Union
Pacific One of Outstanding
BulliSh Features.
by GEORGE T. HUGHES.


NEW YORK. April 26.--The railroad
shares again we're the leaders today OF
a strong and active stock market. il
there was any concern over the r">lt
situation IL did not show itself In p:1rtg
The buying appeared confident III the
extreme. and while 1t centered On the
rails there was no weakness In the IN
dustrials,
The carrier list was replete with Tea
lures. Among them was Union Paclflc
At 202 today the stock was hlgner tnan
at any time In 18 years. In part ms
represented belated recognition oi lts
sound investment merit, and IN part 10
the fact that 1t Is one of the few 'a1lS
consistently reporting higher earnings
than a year ago. Union Pacific has
large holdings of New York Central
Baltimore &, Ohio Illinois Central and
Chicago Northwestern These invest
ments have increased In market price
recently, and they added to their gains
today.
The stocks of the Northeastern roads
we're all strong. Chicago IL Northwest
ern above 90 was up over four points
New highs for varying periods were
made by Northern Pacific and Great
Northern preferred. Buying kept up IN
the new St Paul issues Then South
ern Railway moved up to still another
record high for all time as 1t sold at
154. Paving SO. 1t had still six points
TO go to be on a S per cent basis New
York Central had to absorb realizing
early I'm the session. but before noon II
had crossed 1877 likewise TO the high
est for all time.
In the so-called merger group Wa
bash was the feature. pushing steadily
ahead into the nineties, new top Tor
the present road. The talk was OF 50
guarantee on the stock. Lehigh Valley
at 1i5 was up seven points. and Deia-
ware e. Hudson, fiuctuating Irregular
lv. nevertheless made new hign ior
the year New York & Harlem. the
skyrocket performance OF which was
the sensation OF the preceding session,
sold today at 500 up 25 points. added
10 the advance OF 1872 points Wednes-
day A long list of other railroad stocks
moved up, including Atchison. Cana
dian Pacific. Nickel Plate, Reading
Erie and Missouri Pacific
Express Shares Soar
The industrial list, relatively inactive.
was not without strong spots. The ex-
press stocks were bid up under the lead
ership OF Adams Express. Around 342
the stock was up i8 points. wright
Aeronautical made record nigh Tor
ali time above l44. Short covering con-
tinued In General Railway Signal. The
local transactions. especially INTERIOR
ough and Manhattan modified guaran-
zee. we're in demand. Consolidated Gas
rallied briskly among the utilities. So
did Columbia Gas,
The feature of the oils was Standard
OIL of New York. not because OF the ex-
tent of the advance. but because OF the
large turnover, General Asphalt. one
of the mystery stocks, was taken In
hand. More impressive was the buying
In the cappers where Anaconda was the
favorite. American Smelling &; Rcfin-
ing. Calumet a. Arizona and Greene
Cananea advanced sympathetically. The
w-priced Patino Mines made a new
too since listing
Money renewed AZ per cent un-
changed. Apparently inspired state
ments from Washington we're To the
effect that the Treasury believed money
would not go high enough to hinder
business. whatever II might do toward
checking speculation In stocks,