Evening star., 1922-10-14
ACTIVE TRAD|NG|N
SPECIALITY SHARES
Spectators Are Buying on
Dividend and Distribution
Prospects.
By STUART p. WEST.
nv Special Leased Wire to The Star.


NEW YORK. october 1i.-Today's
brief trading on the stock exchange
was the Iivelicst of the week. The
market showed greater strength and
a broader inclination to advance.
1t was plain that back of each in
dividual advance lay special eX-
plantation. The favorable note struck
in the week end reviews of the mer-
camille agencies had an effect upon
sentiment. They helped bear out the
Wall street views that the countrys
industries, taken as a whole. are slow
ly but surely gaining. and that 1873.
while II may not witness any trade
boom. will be L year of satisfactory
profits.
Plans for Distributions.
The stocks favored in today's buy
ing belong for the most part to COM
panies which are in Il position to dis
tribute part of their su pus for the
benefit of shareholders. or else to COM
panies which are earning enough to
lnents The street began to take more
thought of the United States Steel
situation with its enormous treasury
accumulation. and the new high
record made by steel common re-
Hected very genuine belief that a
stock dividend in its case was by no
means unlik kely.
Dividend Prospects.
American Can, Continental Can.
Freeport Texas and Industrial A!co-
hol were all instances where the buy
ing was based upon dividend possi-
bilities.
Rubber stocks continued TO feel the
favorable effect of the rise in crude
rubber prices following measures
taken to restrict production in the
:aS cast.
Most of the other markets shared
moderately the strength in stocks.
FrcepOrt Texas.
An overnight jump of 4 points in
Freeport Texas caught Wall street by
surprise today. The spect;,cul,-r jump
was brought about by the placing of
an order for d large block of stock at
the market. This stock was being
bought by new banking interests who
suddenly decided that they wanted to
get into the Freeport Texas Company
The form ton of the new export as
sociation by the sulphur producers OF
the country is expected to prove o.
great benefit to the concerns interest
ed. but especially so to Freeport
Texas.
May Be Steel Extra.
About two years ago when the
stock dividend craze was making it
was circulated that the Steel CoTpo
ration was going to declare big
stock dividend. This report was said
10 have originated in high quarters,
the stock had not been declared il
was very plainly said that nothing i'm
mediate was promised. The reports
regarding a big stock dividend on
steel common cropped up strong
n n
Financial Notes.
When the new home Of the Cotton
Exchange, the corner stone of which
was laid today. is completed. May l,
1923, members will thereafter do their
trading IN the loftiest trading room
in the world. The building will be
twenty-four stories high. The trading
room will be on the nineteenth floor.
President G. NJ. Shut laid the corner
stone shortly after noon today. using
silver trowel presented by employees.
General Electric's orders for the
three months ending September 80
were AZ per cent greater than for the
preceding three months. Orders for
the 1922 period totaled s5s.9l4,620.
against s41.60s,332 in 1921. Orders for
171.1s4. against s1s525s.4S2 for the
first three months of 1921.
Dividends Declared.
declared today as follows: California
Packing Corporation, $3.50 a share
on common, payable December Is, to
stockholders Of record November 80;
Texas Power-Light Company. Ia per
cent on preferred, payable November
1. to stockholders Of record October
II. Havana Electric Railway Light
Power Company declared a regular
semi-annual dividend of SO a share
on common and preferred, payable
Noyemher IL books closing op Ocfo-
Der 25 and reopening November l6
Standard Oil interests expect the
recapitalization of the Vacuum Oil
Company to be announced next week
\ stock dividend of 300 per cent and
n reduction of the par value from
500 to S25 a share is looked for