Evening star. [volume] (Washington, D.C.) 1854-1972, 1928-08-30
STOCKS AGAIN SOAR
TO HIGHER LEVELS
Rush of Buying Continues
Despite Heavy Realizing
Movement.
BY GEORGE T. HUGHES.

Special Dispatch to The Star.
NEW YORK, August 30--In certain
stocks the advance was carried further
In today's market. In others there was
heavy realizing. with recessions, most
of them small in amount. There was
no change in the character Of the trad
ing, which was as excited as ever.
The weekly statement on brokers'
loans compiled by the Federal Reserve
was to be given out after the close this
afternoon. Friday morning the posi-
ton of the Reserve Banks will be re-
yealed. These two considerations may
have had some restraining influence on
sneculation for the rise, although there
was more talk about them In brokers
offices than reflection OF them on the
tape.
Copper Stocks Lead.
Copper stocks we're the leaders in the
early .rading American Smelling o.
Refining sold above $50 and kennecott
Conner above 80 for the first time in
their history. Cerro de Pasco went to
a new high for all time above 80. Ana
conda made q new high since 1919 and
CRANKY Mining sold at new top Tor
the wear. Tr;rlSactionS in this group
accounted for a good part OF the turn
over In the first hour.
High-priced specialties responded cas-
ily to buying orders. international Har-
yester was up points at 295 and Case
Threshing Machine about as much to
342. Drug, Inc, scared to a new hlgn
at ia against the previous close VI
lO9b. National Biscuit ran up 4
points and in stocks selling lower IN DOL
lars per share record highs were estao-
lished by National Dairy Products ano
National Cash Register. A little latei
in the day Johns Manville was taken
I'D and next Loose-Wiles came 10 tne
front. The last named at rs was up !
points at new top.
United States Steel, selling ex the
regular quarterly SITS dividend, was
down fractionally at the opening. Cen
eral Motors was shade higher at the
start. but in the first half OF the day
neither of them was as active as nor
mally.
Industrials Prominent.
AS In other recent sessions. the indus
trials almost monopolized trading IN
terest. There was. however, activity ana
TlSlf1R OFFICES III DhAtAhioAC ~ OAAASs ~
haps founded on the large increase IN
net shown in the July statement Ex-
pectations of an increase IN the diVl-
dend are not encouraged in well IN
formed circles. New York Central was
we'll supported and the shares OF the
railroads serving the Southwest.
Money renewed at ~ per cent ana
was reported In good supply. There
was no change In time money, which
was firm at 6ia per cent for all ma
TURTLES. In responsible banking quar-
ters no hope is held out for any change
for the better In the credit fundamen-
tails.
Money dropped to per cent in the
afternoon and the market hardened all
around Before that. however, 1t had
steadied losing the hectic appearance
In the forenoon High-grade invest
ment stocks, such as American Tele-
phone 81 Telegraph and Union Pacific,
were In demand, and General Motors
and u. s. Steel moved slowly forward.
Speciality Group.
In the speciality group Radio came
back across the 200 mark again, Ma
tional Biscuit added to its early gain,
international Telephone ran up more
than S points, and bidding UP of the
coppers was resumed under leadership
OF Cerro de Pasco Hupp and Hudson
made good gains among the independ-
emit motors, and General Electric and
Westinghouse were both higher.
The late leader of the rails was st.
Louis Southwestern above LOG and at
new high for all time.