New-York tribune., 1919-04-29
RelevantC Comment
The DAYS Market

The rise in stock market values pro-
ceeded further yesterday on dealings
approXimating million and a half
shares. Many stocks made new high
not entirely held and the closing was
irregular, as realizing sales appeared
in heavy volume.
Traders assumed waiting attitude
in Steel common. The directors meet
to-day to act on dividends and issue
the quarterly earning statement. The
stock tiuctuatcd between 1905 and
lO1 p, and closed y Off at 1909 on
dealings of approximately $4,000
pers were quiet.
IN the oil department the Royal
Dutch issues continued their advance,
the American shares gaining ~ points
net and the New York shares 6s.
Texas Company advanced 9k to 22815,
Texas Pacific Land Trust 10. Sin
clair OH 3A, and Pierce Oil 13s. Mexi-
can Petroleum broke to 173, but re-
covered at the close to 17S1s.
Shipping shares were strong with
Mercantile Marine and Atlantic Gulf g.
West Indies the features. Strong spec
lalties were American Hide e. Leather
preferred, Barrett Company, Fisher
Body, Keystone Tire and, Westinghouse
Electric Some OF the low priced rail
road shares were strong, notably the
Frisco issues
There was active trading in bonds,
with the Liberty Loa- ISSUES closing
fractionally higher
Frisco-Oil Stock
ST. Louis & San Francisco Railroad
common stock advanced 2as points yes
terday, and the preferred 3%. The
only explanation for the rise in these
issues was their classification among
the so-called coil rail" group. Students
OF the map found that the Frisco sys-
tenn runs through lands in Arizona
and New Mexico that have given evi-
dence of oil' and part of its lines
trlcts. In view of the present atti-
tude of the speculative following to-
ward anything that even smells Of pc
troleum, this was enough to put the
Frisco shares to the front
Margins
The violent rises in some of the
high priced oil stocks have led to
conservatism on the part of banks
lending on Stock Exchange collateral.
which are understood to have made it
general rule to insist on 35 to 40
points margin on loans of this de-
scrlption. The specialists in some of
these issues are said to have no idea
of where they stand.
Royal Dutch Scars Again
Heavy buying broke out afresh in
the Royal Dutch issues yesterday, and
both the "American" and "New York"
shares, on record breaking transac-
tons. registered new high prices on
the current upward movement. The
advance was apparently accelerated by
cables to two local Stock Exchange
firms from Amsterdam, which stated
that the company is planning a stock
distribution some time in July, which
would give the holder of four shares
the right to subscribe to one share
or new stock at par. On this basis
1T was figured that at Yesterdays clos
ing quotations the rights on the Gamer
lcan shares We're worth 5000 and
on the "New York" shares $l9.S2.
Col. & Southern's Oil Prospects
A new railroad coil stock" was dis
covered Yesterday in Colorado & South
ern, which rose to 20 y. an advance Of
~ points for the sesaien. In quar-
ters who're atudy has been made
OF tho eompany'a prospects, it was
Htated that tta lines run through the
Ranger and Burke Burnett oil fields,
and that the outlook for increased
business waa excellent, Before tho gov
ernment took NVrr the onsrotian AZ