Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-03-22
STOCKS AGAIN RISE .
|NLATE DEALINGS
Shares Absorb Wave O
Realizing and Then Start
Moving Upward.
BY GEORGE r. HUGHES.

Special Dispatch to The Star.
NEW YORK, March 22.--The stock
market successfully absorbed today the
heaviest realizing seen IN the present
stage of the advance. Yielding tenn
porarily. 1t rallied sharply In the last
hour. demonstrating It's astonishing re-
c,IpeI alive power. The rails took large
part in the late advance. but the In
dustrial favorites came back readily
The opening had been higher all
around. with new peaks for the leaders
and all the accomplishments OF specu-
lative fervcr that have now become so
familiar. :,
Then about midday a deluge of SELL
ing orders appeared, coming doubtless
from both bear operators and holders
who had accumulated large profits on
the upturn. For time the market
staggered under the onslaught. the
three leaders-General Motors. United
States Steel and General Electric
came down from their early highs III
the case of the first two to show net
losses on the day. But support APP
peared and after a furious battle the
decline was checked and the list
steadied.
Rest of List Irregular.
While pressure on the leaders was at
| its height the rest of the list moved
/ with remarkable irregularity. Stocks
| like Victor Talking Machine, Collins d
| Aikman and u. S. Industrial Alcohol
broke badly without stopping advances
| in other issues. st. Louis-San Fran
cisco, for instance. approaching ll8,
| sold at the highest in the history oil
| the reorganized road. Radio f1uctuated
a.. nisa 01n
| then coming back.
| Volume OF business was OF record
breaking proportions In the first three
| hours the turnover was at the rate OF
100000 shares for a full day. The
| ticker fell far behind in recording ac-
| tual sales on the floor.
Buying orders were Just as numerous
as ever at the opening and furthcr
| violent advances were recorded in the
| leaders. General Motors. which had
closed at l773s. opened at l79 for
| nlock of 1000 shares In Is minutes
| IL had crossed 1870, both these prices
being new high records for all time.
One lot Of 1920 shares changed hands
at 1870. representing in terms OF cash
So. 376. 500. Thereafter in fast and
furious trading the price was pushed up
above 18l before the reaction set in.
Un1teQ states 0teCi hAiu AtthCA "a
Electric we're the two other early fea-
lures. Steel started in with $500 shares
at ISL. up a point added to its 4
| point gain Of the day before. Then IT,
too. pushed ahead to 1872 before the
realizing made itself felt. General
Electric was brought into line at the
start and made to sell above l4S, where
1t was higher than the present no-par
value shares have ever sold. and so
actually higher than ever before IN the
history of the company.
General Electric Supported.
General Electric came down like
Steel and General Motors. but. like
the other two, 1t also received support.
In other words, the interests back OF
the long advance we're not to be dis
| lodged withoua a fight
| Hupp Motors was one OF the out
standing features. 1t had opened up
| 2 noints at new high. with enormou I;
blocks changing hands on the rise.
Two hours later 1t was back to where
1t started. with trading in as great vol
ume as ever. International Nickel acted
similarly. Rushed up to 90 at the open
| ing. when the shorts were being driven
| In, 1t came down. canceling nearly all
| the gain when profit-taking appeared.