Show STEEL MOTORS MAKE RECORDS Waves Yaves of or Profit Taking Make Rising List Irregular 1 NEW YORK Aug 22 By By The As Associated Press Press Establishment of rec tee record record ord high levels by United States s tes Steel Sled common at al and General Genera Motors old stock at 35 overshadowed al alother aU all other developments de In today's stock market Waves Wares of profit taking and short short- selling swept over oer the market at Intervals giving ins It the appear appear- appearance appearance appearance ance of Irregularity but offerings were well wen d and the general trend was to higher levels Raising of the Hudson Motors divi dividend and the delay deb In the market of the new Ford car stimulated d the de demand de- de demand demand mand for Zor the motor shares har Further weakness cropped out however howe In the Yellow Truck issues the preferred sag sag- sagging sagging sagging ging more than 3 points AWAIT HOLIDAY Easy credit conditions continued to I influence pool pool activities Trade devel devel- developments I over the week-end week showed no change in the general situation al although nl- nl although though most of the earnings reports published made favorable comparisons with last year ear Commission house comment inclined to the theory that the market is not likely to to- t show indications indi of a definite price trend un Wl- until un- un until til t after the Labor day holiday There was nothing In the days day's news to explain the sudden demand for steel stocks although the accumulation of United States Steel common was attrib attrib- attributed attributed In some quarters to hopes of a amore amore amore more liberal dividend policy Bethle Bethle- Bethlehem hem crossed 64 to a new peak in ex expectations ex- ex expectations of a resumption r of divi dividends not later a r than the first quarter of 1926 1928 Railroad shares held firm In quiet trading A fair demand dc- dc developed eloped for some of the high priced issues such as Atchison Norfolk Western Illinois Central Lackawanna and Delaware are Hudson July earn earn- earnings earnings ings reports now being published are expected to show aggregate net In Income in- in income Income come well below that of the same month last year ear DuPont in which a capital capita readjust readjust- readjustment readjustment readjustment ment is believed belle to be pending crossed to a new peak Air Reduction In International In- In International Agricultural Chemical prior preferred International Harvester Harves r and American Smelting all alt sold 3 to nearly 7 points higher FIRM X AT CLOSE The closing dosing was firm Despite the various arlous character of the rise In many stocks several eral continue to reflect the weight of liberal offerings notably Baldwin Locomotive United States SUiI s Rubber St. St Louis Louts San Francisco and the Yellow Truck issues Late buying was most pronounced In American Lo Lo- Locomotive International Telephone Arnold Constable Copper Woolworth and Wright Aeronautical S Total sales approximated shares L |