Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-01-30
STOCKS IRREGULAR
IN MIXED MARKET.
Utilities Are Again Favorites.
Industrial Features
Sell Off.
BY GEORGE T. HUGHES.

0peCldl OiSpdbCti W l'AC N"NA'
NEW YORK. January 30.-Urgent
buying of the stocks of the electrical
manufacturing companies and of the
public utilities accompanied liquidation
in numerous recently popular indust-
rails in today's stock market.
Call money went to per cent and
this in itself brought selling into the
list. but a more reasonable explanation
of the markets action was the switching
which is going on from one group to
another.
In the last hour General Electric and
WESTINGHOUSE Electric both sold at the
highest for the present shares, with the
former up over II points. United States
Steel was under pressure practlcally an
day and there was irregularlty i'll the
motors.
The utilities we're again the favorites.
Stocks of all the holding companies
we're eagerly bought at steadily rising
figures. New highs, most OF them Tor
the present forms of capitalization,
were made by North American, Public
Service of New jersey, American ana
Foreign Power, National Power & Light
and Utilities Power & Light. North
American was little slower in getting
under way than the others, but its adj
vance was most pronounced.
Rails Do Better.
American Telephone g. Telegraph,
having absorbed the profit taking con-
seouent upon it's recent rise, started up
ward again, this time across 221 to
new top. Various investment advisory
services were recommending this stock
and the floating supply Is so small that
it readily responds to any increase IN
demand. In the same group Brooklyn
Manhattan was in demand on Federal
Developments in the local traction Sit
uation.
The rails made better showing
today. New Haven was the leader OF
the lower-priced stocks, while Norfolk
81 Western and Baltimore 81 Ohio rep
resented those selling above par. New
Haven crossed 90 Ior the first time
since 1918. Baltimore & Ohio crept
forward on buying based on eXpecta-
tions of a higher dividend some time
this year. Norfolk & western, one OF
the few $40 stocks still available to
weld over per cent, made a new 1879
high. Atchison was up IN the early
trading.
United States Steel ranged lower.
Selling was Q0uDCIeSS uue W uIodP-
pointment of the failure OF directors
to do anything more than declare the
regular dividend At the same time,
the stock was we'll taken and although
heavy was not weak.
Many industriais which had been
strong earlier in the month we're
licuidated to buy utilities or other
stocks which for the moment were
more popular Air Reduction. Johns
Manville, National Cash Register ana
others of this class sold off.
Oils and Motors.
The oils had no friends. Mexican
Seaboard, which had lost over 4 points
Tuesday, slumped points more. STAN
dard Oil of New Jersey made new low
for the year. Standard Oil of New
York was offered in large blocks, but
received good support around the 20
level. Rio Grande Oil for some special
reason scored an advance.
Motors we're irregular. A rapid rise
in the low-priced Gardner Motors was
the feature, said to be due to the COM
pany's interest in the airplane indus
try. Hudson was higher for time,
but General Motors did little. Stude-
baker was in supply.