Evening star., 1923-12-20
STOCKS CO HIGHER
IN WALL STREET
Movements in Individual
Shares Dominate Days
Trading-0iIs Active.
BY STUART y. WEST.

Special Dispatch to The star
NEW YORK. December 20.-Cp'
ward movements in number of in
dividual stocks dominated the stock
market today. Oil shares were helpec
by the favorable weekly figures OF
crude production and imports bu1
they were not so conspicuous as theS
have been on other days.
The action of the Erie stocks-tht
first preferred crossing 80 and the
common getting up to Gifted III
with all the evidence coming to hano
for several months that new inter
estS have been buying into the com
pany
l.. & v. shares Active.
Other rail shares which were NOV
ing independently and therefore OBJ
viously. for special reasons, were
Louisville and Nashville and Atlantic
Coast Line Louisville above 30 Wouid
he too high for per cent stock
Consequently il seemed reasonable l.
assume that the mark ct was getting
ready for an increase to 6 per cent
Atlantic Coast Line owns majority
Of Louisville and il is expected th'tt
if the dividend on the latter is raised
the dividend on the former VIII be
also.
So much has been said on the sub
iect of the department. chain stores
and in general enterprises having to
do with the distributive trade, that
comment upon the strength IN TINS
class of stocks today would be sim
pIv reiteration. MAY Department was
the leader and at 81 was ConsideraDls
above all previous records with the
stock in it's present form A diNlueiIu
increase here appears lneNltaple tiie
way the company's business now Is
running. -,
Associated Dry Goods went along
with May Department. and Jullus
Eavser shares. which have done little
in the recent past, jumped points.
Pool Pushes Alcohol.
The pool in L. S. Industrial Alcohol
gave its stock another push. me
Central LeatherS continued their fe-
covery, although it is not yet clear
hat this was due TO anything more
than the retreat of a good Slzed Snorl
interest. Computing Tabulating Re-
cording crossed 90 for the hrst time
under rush of buying which tound
the market for a while comparatlNtly
bare of offerings. Apparently the IN
Spirauon for this move was the ldea
that something more than the present
per cent was likely
So much attention has been attract
ed recently to the Situa ton confront
ing several of the railway systems OF
the west that latest information about
the Chicago Great Western halfway
company is of especial interest. III is
said that 1928 has been quite satls-
factory for the road and that for the
first time in over five years receipts
from transportation alone have more
than covered interest requirements.
The company's preferred stock Is
quoted around 10 on the stock eN-
,hange and back dividends amount 10
at least 80 per cent. or three tunes
what the stock is selling for
Sur,- Stacks Reflect Cheer
The sugar shares, notably the Cuba
Canes and Punta Allegro. continued
to reflect the optimistic feeling re-
garding the 1924 sugar trade sltua-
ton. Cuba Cane preferred got up
close to its high for the year. Whlle
The common was unusually active
and strong.
The reported differences among
members of the Copper Export AS
sociation had no appreciable effect
,tnon the copper shares touay. IL
vas rumored that the dissolution OF
The Copper Export Association might
occur. In that event. as the street
sees it, certain benefits which have
accrued to sellers of copper throuSh
this agency would be lost.
Realizing sales had more influence
upon the afternoon stock market
than they had had during the 1ore-
noon. 1t was apparently true that
the oil shares had for the time pc
ing discounted trade Improvement
which the shrewd buyers of two
months ago had foreseen and which
has since come to pass. On the hrst
of October a widely accepted estl-
mate placed the daily excess or de-
nland over supply at 3O0.ooo barrels;
The latest figures out today showed
that production and imports together
were off 314.546 barrels from their
peak in September.