Evening star., 1928-02-09
SPEC|AETY|ST0cKS.'| /. /
AGAIN NARE:EEATURE'
Consolidated. Gas ls,Leader.
ChrysIer Also Is Active
on Merger Talk.
BY GEORGE r. HUGHES.

NEW YORK, February o.--Confiict-
Ing croSs-currents characterized the
movement of prices on the Stock Ex-
change today. It was q market that
differed little from that of the two
preceding days, but one In which OPP
erations for the rise In, selected favor
ties was more impressive than the
liquidation which continued In progress
elsewhere. Local utility issues played
Consolidated Gas was bid up sharply
to its highest prices under the present
form Of capitalization. s.
Along with Consolidated, Gas went
Brooklyn Union, although Brooklyn
Edison. which also has been included
in the gossip involving. the much
talked of merger. did not share to the
extent that might have been expected
in the Improvement. Evidently plans
for a consolidation Of these properties
into one gigantic organization nave
progressed further than speculative
wall Street had been given to believe.
While some officials of companies IN
the negotiations have emphatically oe-
MED knowledge Of any terms. tns nner
points especially pertaining to the sup.
sidiary BROOKLYN properties are thought
to have been definitely agreed Upon. -
Dividend Action Wtsnne1o. ..g
Directors of the General Motors
CORPORATION withheld their dividend
action until after the close OF the STOCK
market. In the meantime Oeneral
Motors was actively dealt In at ffac.
tional improvement. but 1t mao not
been expected that anything more tnan
the usual quarterly distribution would
be voted at this time.
SRvfnR
volume above the present level. where 1t
vas ,,p A point or more. Coincidefit
with It's activity was the revival OF
merger. rumors concerning this COM.
pany and General Motors. Studebaker
continued In demand around Its best
for the current move.
The steel stocks were not 30 much
affected as they. had been recently by
highly optimistic reports from the trade
centers. United States Steel, worked
higher at intervals but there appeared
plenty OF stock for sale at improved
prices. The unsatisfactory report Of
Republic Iron g. Steel apparently had
been discounted and the stock did
little, -.
while these groups were giving .
good account of themselves others were
under pressure. The rubber stocks felt
the effect OF the sharpest break In
months in the market. for rubber
futures.
Rubbers. Are Offered.
This came upon the heels Of the an
nouncement that the British committee
on civil research had been asked by
authorities for suggestions as to the
future policy and methods TO be
adopted under the Stevenson restric-
ton plan. United States Rubber.
Goodrich and Fisk were freely sup
piled. -, /.
The action Of vanadium. Greene
Cananea and Freeport Texas. three OF
the pool favorites, Indicated that In.
terests back OF the recent buying
might have abandoned operations OF,
the long side. Montsomery Ward ad.
yanced, TO another new high for the
present shares. Evidently pians for
the immediate opening OF additional
chain stores under It's expansion pro-
gram was the principal consideration
In the speculative calculations
American. Can was. carried to its
highest for the SIS par stock. United
States Industrial Alcohol was bid up to
Its best since 1919. Buying vas said
to be for the account Of interests who
recently acquired . large interest In
the company and were desirous of
strengthening their position.
Cali Money Lower.
Call. money dropped to I per cent
after having renewed at 4ia. Al the
same time slightly easier tendency
vas noted IN the time money market.
Railway shares were under pressure
at intervals. st. Louis Southwestern
below SO. compared with the previo,A
Anal OF 70h.
Trading fell of In volume as the
tegsion progressed. When the early
favorites showed signs OF wavering
speculation conferred IN q number Of
ow.priced industrials. Included among
these we're Simmons Co. Spicer Manu-
featuring and Victor Talking Machine.
Westinghouse Electric, across o.. was 4
points higher on the day. General
Motors and United States Steel were
selling at their best prices In the late
afternoon.