OCR Text |
Show 'RAILROAD SECURITIES IN ! THE LEAD IN WALL STREET Entire Transportation Division Benefited; Rails Revive on Prospect of Rate Increase. NEW YORK, May 14. Railroad stocks had their inning today, making spirited advances on the recommendation that a 25 per cent rate increase be granted. The movement substantially benefited the entire en-tire transportation division, minor shares recording even greater gains than seasoned sea-soned or dividend paying Issues. New Haven made an extreme rise of 1. and Eric first preferred 896, while the shares of many low grade roads traversing travers-ing less populous sections of the west and southwest gained 1 to 3 points. Among representative rails Union Pacific Pa-cific and Southern Pacific mounted 3 points each. Northern Pacific and Great Northern 1 to 24, New York Central 3V4. Reading and Baltimore & Ohio and Ohio 2 to 2 and secondary coalers, both anthracite and bituminous. 1 to 3 points. Inevitable realizing for profits caused irregular ir-regular reversals later. Industrials and equipments were eclipsed most of the session by the In-qulry In-qulry for rails, but noteworthy features were not lacking in those groups. Butte and Superior added 8Vi to yesterday's 6-point 6-point gain on favorable litigation, American Amer-ican Sugar rose 2 points on unexpected "extra" dividends, and shippings, motors, tobaccos, and various metals were 1 to 4 points higher at times, though also yielding yield-ing at the confusing close. United States Steel offered stout resistance re-sistance to liquidation for profits, fluctuating fluc-tuating between IXXL nd Q$, ending at 109, a net loss of and furnishing its usual liberal quota- Sales amounted to 1,225,000 shares. Speculative railroad bonds were strong, but internationals and Liberty issues were irregular, the 4is declining to the new low of 97.52, but rallying briskly to 98.20 on cash sales at the end. Total bond sales (par valuee) aggregated $10,-200,000. $10,-200,000. Old United States issues were unchanged on call. |