Ogden Standard-Examiner | 1927-02-17 | Page 10 | Trade News is Factor in Rise

TRADE NEWS IS FACTOR IN RISE Rails Again Lead Ad AdVance Advance vance Chain Stores and Sugar Strong NEW YORK TORI Feb By 17 17 By The Press Press Bullish opera operations tiona in today's stock market showed greater diversification but butth th rails particularly the south south- southwestern southwestern Ve western tern Issue Issue-a Issues issue were again In the forefront of oC the advance ance Easy money rates and bullish trade news combIned with the circulation of oC a large crop of ot railroad merger ru- ru ru rumors mole mors helped to keep tho specula specula- speculative the tive fever at high pitch Talk of a counter move by the Penn and Lorry Interests to offset orbet the seeming advantage obtained by the three other trunk hines In their recent acquisition of oC In the Wheeling Lake Erie and Ian Mariand Mar land roads stimulated activity In the he rails Pennsylvania officials denied that th they y were recent nt purchasers of ot Wa Va bash Wa-bash bash and Lackawanna tocks stocks but the tho former was In brisk ne MI Missouri Pacific and Texas Pacific each their gains to nearly 5 points and Jat Jaty Chicago Northwestern sold 3 or mor mor- points higher the gen gen- gen general eral level of 01 o railroad shares la Is now gen I at the highest sineo 1010 FORCES TO ln CO Reports that some of the large larl I houses had been In- In In Instructed by recent purchasers of Baldwin not to loan the stock for I delivery against short sales brought brough urgent short covering In that issue carrying it up nearly 50 0 points above the low level of last month and 3 1 points above last nights night's close Motors J displayed a stronger undertone on reports that no flO ten gen general gen general eral price cutting was In prospect despite recent reductions by some of the large manufacturers Hudson k Manhattan jumped over 5 S points to a new peak pric on rumors of higher dividends Other New York tractions moved up In sympathy Sugar mer mer- mer- mer merchandising merchandising and chain store shares also presented several point i of oC strength but activity Ity In the tho oils was confined largely largel to the Pro Pro- Producers Pro Producers ft Issues AT 1 LOW POINT I The Tho closing was strong With Withcall Withcall Withcall call money rates slipping down to 3 per cent the lowest In over six months Investment funds poured Into the market marlet for tor high grade rails nils causing many material ad- ad advances advances ad advances vances Pennsylvania was accumulated In large blocks and touched 59 Canadian Pacific extended Its ad- ad advance ad advance vance to 7 points and Union Pacific ic ie ic to 3 Total sale sales approximated shares