Rails Spark Upside Drive In Mixed Day
NEW YORK. Feb. 27 f^Pt.ÛÓ After a series of ineffectual rallies, the stock market advanced today under the impetus of a strong forward drive by the railroads.</br></br>Gold stocks moved forward right from the start and posted good gains, although most of the issues lacked activity. The radio-televisions joined the ad-] vance late in the day.</br></br>*Heavy gains were displayed by companies with interests in the Wiliiston Basin oil field in Montana and North Dakota.</br></br>The Associated Press average of 60 stocks gained 30 cents and closed at 5114.20. Most of that came from the railroad component wilh a rise of 90 cents. The industrial coin-i ponent declined 10 cents and the utilities declined 20 cents.</br></br>| Willys-Overland hit a new -1952-53 high and closed up at 14V* * and Kaiser-Frazier on I the American Stock Exchange was up Va at 5 in the midst of merger rumors. Late in the day it was confirmed that merger negotiations actually were in progress in New York.