Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-03
MOTORS LEADERS
IN STOCK MARKET
Coppers Are Prominent
Trade in Rails in Limited
Volume.
BY GEORGE r. HUGHES.
SPECIAL Dispatch to The Star.

4
NEW YORK. January S.-The stock
market opened the new year with an
irregular upward movement. There
were numerous issues that did not
pariicipate and trading was dui"tef
than in the cinSinc days of 1871, hut,
essentially. the market was unchanS'
ei Special stocks were taken IN hand
whenever the GENERAL list falterCd and
hid up In the RON familiar fashion.
Money renewed AT ST. l.er cent. The
rate was ) per cent on the flrSt boSi'
ness day OF 1897 and this indication
O. a hardeninS tendency caused some
hesitation. Normally. call money
4 should relax after the first Of the year
. requirements are met and this VIII
4 undoubtedly I've the case this week. but
in view Of the high level of brokers
j loans. traders are likely 10 wait Hntii
/ they see a lower quotation on caN-to-
dav funds before they indulge IN too
much enthusiasm
Motor Stocks Prominent.
The motor stocks we're prominent
from, the start. This Is The season 81
.he autoIn obile shows and IN" 'llNS
when an advance in the motor sh&i,e>
& .be exrected thing. AMONG the
sn6 nn6ce Bros. The TWO first nam, 4
sold hicher than AT any time IN W. 4.
T.o5ra Rros rvaferrei went alonc with
+be class "A" stock. Hudson Motor
c-ss higher also. but General Motors
did no: DO SO we'll
Next to the motors the copper
--oCks again claimed the largest snare
~ attention. Greene Cananea. M
over s roints above 1S1. was the lead
g. and az the hest since listing. TAI
rr1e, and Arizona. kennecott, Ana
canaa and American Smelling y Ike
f7ning were ali IN more or less. Ciose-
IL associated with the coppers were
+1,e su1nhur stocks. Texas Gnlf and
Freeror, Texas. both strong. Anoth-
or groun in favor. but 10 less degree,
wns the sugars. Cuban American
and South Porto Rico gained a point
each. The sugar trade looks Tor
more profitable year and there IS cen
siderable quiet speculation for the rise
in sugar stocks.
Trade i'm Rails Limited.
Trading in the rails was in limited
yoI,:ule The ST. Paul issues were IN
demand at times solely on the theory
that the road would do better under
the new mana cement once reorganiZa.
4jon was effective This presupposes
continued Improvement in the North
west. Erie was the best bought OF
the lower priced stocks, while the sea.
soned dividend payers barely held
their own. Equipment stocks were
steady. American Car & Foundry al
III touched its previous high for the
rsast wear ard there was a special
move in New York Air Brake.
Most Of the steels did little. Early
.n the day. however. Inland Steel
made new high at So. The report
was persistent that a large block Of
Inland Steel had been purchased al
private sale at 2 price substantially
above the market
Trading proceeded quietly in the
afternoon with prices scoring further
adva noes Greene Cananea. adding
20 its forenoon gain. was up over
points as il crossed leo. Heavy buy.
Ing came into Radio, lifting the quo
tation for that stock about points.
The mail order CLOCKS. Sears Roebuck
and Montgomery Ward, were taken
an ard SO were the aiTplane stocks,
Cur.iss and Wright.