Evening star., 1922-12-26
MARKET REMAINS
STRONG TO CLOSE
Prices Go Higher. With Sew
eraI New Highs for Year
Established.
ny STu ART r. WEST.

.'b'F'.al i't>pa''n 10
NEW YORK. December .6.-Fur-
ther advance in the greater part or
The stock exchange list today oc-
CURED simultaneously with another
violent uprush in cotton and rather
marked display of strength in United
States government bonds.
There were no new influences at
work in the stock market. ANY
idea that the buoyancy of Christmas
I'VE was chiefly sentimental was
liGher. and by the end of the first
I'"ur some of the speculative leaders
were up a point or two points SUD
i: uuently trading became less active
tut the general list up 10 midaftar-
noon maintained the early gains
fairly well.
Crude Oil Advanced.
The only contributions at all in
The way of news We're an advance in
light crude oil in the Wyoming dis
triCt and another series of November
railway reports. which for the most
nart made a favorable comparison
with a year ago. The developments
made themselves felt in the mark
FOR oil stocks and. to some extent
in the railway list.
The Wyoming oil advance was OBJ
njtirance. nevertheless Wall street
protested To find in il further ground
upon which to build expectations of
general rise in prices early in the
NV year.
Among the traffic statements that
of Union Pacific was one of the most
Noteworthy, in that it showed an in
crease in net operating income of
sl.S1S.O00. whereas gross was only
Si.31S.oo0 above November, 1921. This
afforded one instance at least where
me period of extraordinary mainte-
nance charges seemed to have
reached its end.
Lchigh Valley Above 20.
Selling above 20 today. Lehish VAL
'.v had recovered practically the en-
tire ground lost in November and the
carly part of this month. Special
CONSIDERATIONS are at work i'll the Le-
high situation and are the main rea-
son for the strength IN the STOCK
I.chigh. as every one knows mas
some coal properties which must be
divorced from the railroad company.
:.a,I the plan covering this distrinu :
ton is now said to be about ready ior
:uuouurcment What has been hold
ir- back this announcement is the
lAct that the road was in controversy
with the state of New Jersey over the
Norris and Essex canal deal. This
finally has been settled and leaves the
deck clear for the coal property dis
l:ibution.
ttah and Nevada Dividends.
Dividends on Utah Copper are ex-
nected to be raised above the present
s. annual rate. and distribution to
shareholders is looked for on Nevada
aud probably Ray Consolidated at
two-yearly rate not much later thah
March s. The continued strength In
Utah Copper stock is based on knowl-
hot Tll IN
GOOD showing and the prospects ior
1873
Ruying of Vivaudou. which began on
Friday and continued toda.-. was in rec
ignition of the improved financial po-
sition of the company and the chances
that later on shareholders viii reap the
advantage of this change. A year ago
Nivaudou owed sl,000.000 at the banks.
Now not only does it owe nothing but
IL is lending money. November set q
gross and net. Declaration OF a divi-
,lend probably al the rate o. s. Il year
il likely to be made i'll ti,c spr!ns.
The new Treasury i'.s got back to
par for the first time i'll over two months
:.hd the Liberty group all went higher.
ton on the part of investment capital
for the dividend and interest disburse-
ments at the new year.
Sugar stocks Were strong in the
afternoon despite Tue reduction an
nounced early in the day in refined
sugar prices. The market locked upon
his decline as merely temporary. in
.licative of the lull in the sugar in
dustry customary al this season.
New York Central stood out strong
L. in the last hour and was back over
nearly all the ground lost after the
. directors met and failed to increase
the dividend. The street continue ed
To take an optimistic view of the
i.ehigh Valley and Reading segrega-
ton plans expected shortly and both
these stocks were strong. but there
Was persistent selling of the St.
l'auls and gsishness in most of the
other rails.