Show i BRISK RALLY HAllY IN STOCK MARKET ARKET Short Forced to Cover Rails Bought Money lIoney Lower EW YORK 1 ay OBy The Associated o Press forces were again at work ork In to to- today's days day's stock market which rallied briskly on the urgent retreat ot of otan an short Interest Except for Cor a lowering of the call money renewal rate to 4 per percent percent cent there was nothing In the thed d days s news newa to influence thep rico rice movement whIch seemed to be governed o b by conditions within the market itself STEEL The weel weekly y steel trade trado reviews reported practically no change In inthe the production ot of and demand fOi steel The Thc price ot of pig Iron showed a slight elight reduction Steel shares held steady stead Colorado Fuel mounting to the hest price In 26 25 years ears Short covering was wo ly Iy heavy In the oils man many of which rallied 1 to 4 points e Detroit Motors was bid up to a anew anew new high coincident with the an- an that Graham Broth Droth- ers had acquired d a a controlling In in terest In the Chand Chand- Chander er and some or of the other low priced motors motor also were vero strong of the rails embraced both the seasoned dividend pay pay- paying ing and the speculative Issues Baltimore Ohio co and preferred were elevated cle to new peaks a a resumption n of heavy E buying g look o place In Chicago Chicago- 1 Great Western preferred despite recent denials denial of mer merger er rumors Involving Involving- that that property lOon on Plate and Southern Pacific also recorded good gains MOTORS AT I IU Operators behind the rise In General Motors encountered an enormous of oC stock around the new p peak ak o establIshed this morning and appeared to be behaving behaving having difficulty In trying to lift the price above e that figure American Can n. Famous l'-amous Players and a number ot of other recent laggards also recorded good gains Armour of oC Illinois preferred broke six points The rhe closing was strong Sn S cop Ing In asIde all resistance General Motors forged upward to a a. anew nc new high figure ure In the final hour and Du Do Pont rose tour four points point Coca Cola climbed nearl five n to L a new high higl record and Laclede Gas went ent to an overnIght jump ot of 18 points on rumors of oC plans liis Chalmers company nion Carbide Baldwin and Erie were lifted materially Total sales Ies approximated shares |