Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-25
IMPRESSIVE GAINS
IN STOCKS SCORED
Market Gives Good Account
of Self In Short Week
End Session.
By GEORGE T. HUGHES.
Special Dispatch to The star.

Special Dispatch to The Star.
NEW YORK, January 25.-Slow but
STEADY and impressive progress was
made by the stock market In today's
week end session. There was no hint
OF extravagance anywhere in the opera
tons, but there was q tone of quiet
confidence which, 1t is not too much to
say, has not been equaled at any pre-
vious time this month.
The first hour was taken I'D bv bIv
ing Of the lower priced issues. few of
which could be rated as in the invest
ment class. Before the close, however
demand had broadened out, and the
leadership went to stocks Of a much
better grade. It was at this time that
the railroad shares came into profni-
nence, especially the seasoned dividend
payers.
Advance in Rails.
New York Central was a leader At a
new 1880 high, responding to homes
freely expressed in the Street that
stockholders would receive a high divi-
deno. Then there was the belief, which
now amounts TO a superstition, that
when rights on a stock expire the price
Is sure TO advance. The rights on Gem
traI expire next week. December earn
ings statements we're discounted az a
market influence because the compare
son with December, 1928. was with a
month Of exceptionally good results
Meanwhile annual reports as for ex-
ample that OF the New Haven, are
highly gratifying.
pennsylvania was taken In large
blocks also around the best of the
movement Bangor d Aroostook. which
IL Is estimated Is earning over SO A
snare and so selling only between eight
and nine times earnings, did the same.
New Haven was strong and so was Mis-
sour racine with several others not on
the dividend paying list.
Another interesting DEVELOPMENT WAS
the better feeling toward the oil stocks.
Here the gains we're mostly fractional.
put the trend was plainly evident TO
every watcher OF the tape. Standard
OIL OF New Jersey was the most con-
spicuous issue in this section.
United States Steel opened UNCHANGED
and infatuated irregularly, but did bet
ter toward the close. General Electric
and Westinghouse Electric were higher
ana there was buying Of Western
Union. American & Foreign Power and
Columbia Gas among the utilities, The
trade is skeptical about the predictions
OF Steel reaching 90 per cent capacity
rate within two weeks, but 1t is admit
ted the Improvement has been greater
than was anticipated. Estimates Of
fourth-quarter earnings, which will be
made public on Tuesday, have been re-
vlseo downward In recent weeks, but,
judging from the Bethlehem Steel show
ing, they ought to be satisfactory.
Close Is Strong.
Automobile stocks were not especially
active, although Auburn, always a fast
mover, was up at one time over ~
points. There was a furry in the ac-
ceSSory shares, including Murray Cor
poration. Lima Locomotive was bought
on reports Of new business and Colo
RADIO Fuel & Iron on the story that the
New Republic Steel Co. was DESTROYS of
acquiring 1t.
The best prices Of the day were made
lust before the close This was true of
Steel, New York Central, General Elec-
trlc and OF the other leaders. Bethle-
hem Steel crossed par again.