Evening star., 1928-03-30
BIC BUYING WAVE
LIFTS STOCK LIST
Trading Again on Huge Scale
New High Records Are
Numerous.
BY GEORGE r. HUGHES.

Special Dispatch to The star.
NEW YORK, March 30-Another
wave swept through the entire stock
market list today. 1t had its inception
Immediately at the opening, and before
the first half session had terminated
the tape was running % minutes late
in it's endeavor TO record transactions
as they occurred on the floor. In the
first hour alone the volume Of business
closely approached the 1000, ,000-snare
mark.
Practically all classes Of stocks shared
in the improvement. The element ia
voring continued price appreciation had
in its favor the latest statement on
brokers' loans issued after the close
of business Thursday Contrary to gen
eral expectations, the increase reported
in the item amounted to only $46.665,-
600, notwithstanding that during the
period covered there were three days
in which total stock transactions eX-
ceeded the 4.000, 900 share mark. ESti-
mates had been for an increase OF
SIS ,000.0 to $l40.000.000.
Not on Broker Accounts.
The conclusion commonly drawn
from the small increase was that a
large amount Of the purchases we're
not carried in speculative brokerage
accounts.
New high records were numerous and
in several instances they represented
peak prices for all time Leadership
Centered in no particular issue.
although the recent spectacular per
formers bore their share In the rise.
General Motors opened up 2 points al
1877. 1t sold close to 100 before there
Yfsafg gaA fnf
Steel followed along but the improve
ment was not as pronounced. lndc-
pendent motors were taken up again
with Hupp. Packard. Mack Trucks and
WHY'S Overland favorites. Steel shares
generally. however. we're not inclined 10
follow the leader
So far as group movements were con-
cerned. the Coppers held first place
Operations for the rise needed little in
the way Of outside news to stimulate
public participation. They had met
with favorable response Thursday and
were continued even more aggressively
today Anaconda, after opening at
59i2 on a block OF 5000 shares. subse-
quentiy crossed 81 TO its highest since
1920. CRANKY Consolidated responded
Immediately to the resumption OF divi-
dend at the rate OF 81 quarterly. Above
4St =. IL IHdCIlGu At6 AtiRlESb SiLNE AJSU.
Greene Cananea Keunecutt, Calumet
& Arizona. were up ! TO ) points
Radio Shorts Punished.
Local utility issues, especially those
involved in merger negotiations, were
among the favorites OF the day Con-
solidated Gas sold at its highest for
the present shares Brooklyn Edison
was up sharply TO its highest in history.
Public Service OF New Jersey jumped
almost 4 points to a new top.
The short interest in Radio was again
punished severely. the price reaching a
new high when it crossed l79, gain Of
almost 9 points. United States Rubber
was another which was bid up sharply
against the short interest, General
Electric. up more than 5 points was
at its best for the present capitaliza
ton. New high records for the year
In Park (; Tilford American Interna-
tionai Corn Products. Simmons Co. and
Kelvinator we're only few of the days
features.
Railway shares were not as promi-
nent as industrials. but went along
The new St PaulS were odtStandingly
strong at their best prices since listing.
Southern Railway marked up a new
top for all time.