Evening star., 1929-06-26
SPECULATIVE CURB
SHARES IN ADVANCE
Industrials, Utilities and Rails
Bid Up, Despite High
Money Rate.
BIZ HARRY II. BECKER.

cpecial Dispatch to The Star.
NEW YORK, June 26.--Indifferent to
continued firm rates for money, the
speculative element on the Curb ES-
change resumed the process of bidding
up numerous issues in fairly active
trading today. Leadership, however,
was no longer in the utilities which
nevertheless continued to present the
usual quota Of strong issues. Wider in
terest was shown in varied list of in
dustrials. some of which rose aggres-
sively to new high records and gave the
general tone Z. stronger appearance than
in some time.
Early Features.
Among the features early II the ses-
sion were Pennroad Corporation, the
holding company formed by the Penn
svlvania Railroad interests. 1t opened
on a block of 10000 shares and was
turned over in large blocks reaching the
best price on the recovery. The actlvity
wss based on unccnf1rmed reports tlat
the issue would be transferred to the
stock exchange within the course oA
the next few weeks.
Considerable activity was also dis
nlaved bv Marconi International Marine
above the Is level which compared with
a low this wear of 19. Important gains
were also marked up by score OF more
unrelated industrials and there was
quite a squirt in the limited number oI
listed railroad shares in sympathy WIN
the buoyancy Of carrier stocks else
where New Orleans, Great Northern
was traded in for the first time in weeks
at slightly higher prices.
Recent strength of Crocker wheeler
was explained by declaration today OF
a per cent dividend on account OF
accun1ulations, reducing the arrearages
to 10 per cent The stock is very closely
held and the floating supply is there-
fore limited, but the dividend announce
raent failed to inspire much new inter-
est In the junior issue, which made
new high Yesterday One of the ir1fre-
uuent rumors in connection with It's
recent advance was that one OF the
leading electrical goods firms was In
terested in the property.
Although trading in the utility sec
itions was on q more restricted Scale,
few advanced in the accustomed iasLlioIl. m
Gas Improvement old and new, which on
an active turnover advanced further into
new high ground. Columbia Electric
Power made a notable gain, also estab-
fishing its peak for the year in the fore
noon, while American Light d Traction.
largely because of the appreciation OF
largely because of the appreciation OF the
market value of its securities, was active
and strong. Shares of the holding COM
pannies recently formed and the seeuri-
ties they are to acquire did not DO
much.
Other Active Issues.
United States g. Foreign Securities,
after being comparatively neglected dur
ing the boom kindred issues. came to
life with a rise of substantial extent.
Consolidated Gas of Baltimore huctuat-
ed in narrow range following an
nouncement of the formation of vot-
ing trust for the protection of the pres
ent management.
Draper Corporation, Swift & Co. and
the other packing issues, U. S. Finish
ing. American Cyanimid B and the In
ternational Protector new were other
issues to do better in the general run OF
specialties. OILS continued heavy, with
the exception of Cosden & Co.