Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-01-24
'SPEC|A[T|ES SOAR
ON STOCK MARKET
Westinghouse Is Feature,
Gains Occur in All Sections.
Adams Express Up.
BY GEORGE r. HUGHES.

Special Dispatch to The star
NEW YORK, January 24.-Todays
stock market again was characterized
by pronounced improvement in all sec
lions, with the demand urgent. That
the money influence was the dominat-
ing factor in the speculative calcula-
tons was evidenced by the manner in
which operations for the rise we're car
Iied on throughout the list.
Call money for the second day In
succession renewed at 31s per cent and
was reported available in outside quar-
tiers as low as 81 per cent. There is
reason to believe that the next loan
statement will disclose an increase in
brokers' borrowings. but this prospect
was no more OF an influence market
wise than it was when the loan item
was at its peak.
Host of Specialties.
1t was not so much the motors and
the steels that commanded the place
of prominence as 1t was the host of
specialties, one after another that as
sumed leadership. One of the outstand-
ing incidents was the enormous turn
over in Westinghouse Electric. Whether
there was any truth to rumors of con-
test for control was a question. but
when individual blocks of as much as
5000 shares changed hands at 100, after
block OF 10000 shares had been taken
at this figure just before the close yes
terday. these reports were sufficient to
fire the speculative imagination. Along
with Westinghouse Electric went West
inghouse Airbrake to a new high under
the present share capitalization
Adams Express. following its 23-point
rise Yesterday, advanced IA points to
279. the highest since 1907. Function
ing only as holding company for Sc
curities, and the second largest holder
of American Railway Express, it is ex-
pccted TO benefit materially from an
earnings standpoint as result of the
increased European business of the
latter company.
Montgomery Ward sold at it's highest
for the present shares and City Stores
"B" was another of the distributive
issues that went into new high ground.
There appeared TO be no top for Co /
Dust Corporation. which was respond
ing to reported plans for the building
up OF 4 major trade mark organization.
OF which this company will form the
nucleus.
Short Interests Attacked.
When the demand for these special
ties showed signs OF having been salts
fed. speculative attention was directed
to ISSUES thought to harbor a good
sized short interest Greene Cananea
was carried up more than points TO
l40 before the rise was checked TIL
ken Roller Bearing was another / this
category and Lorillard another. al
though advances were not as pro-
nounced.
u S Steel. after holding firm
throughout the first half session. was
taken up in the afternoon and carried
with it some OF the independents. Gen.
eral Motors was fractionally higher
most OF the time. Hupp went TO a
new high.
New Haven featured the low priced
rails declining rather sharply follow
ing the announcement that only rou-
tine business was transacted at today's
meeting Old line issues of the type
OF Canadian Pacific. Southern Railway
Atchison and New York Central on
the other hand continued in demand.