Evening star., 1923-05-29
PRICES ARE MIXED
| IN STOCK MARKET
Euuipments Sold Freely,
\ While Other Shares
Advance.
BY STUART =. WEST.

Special Dispatch TO The Star.
NEW YORK. May 29-Today's was
n very mixed stock market. with
realizing sales continuing in some
sections of the list, while in others
the buying influence predominated.
The equipment stocks which had
been the leaders at the Monday close,
were sold rather freely at the same
time that other favorites, like Ameri-
can Can and California were taken
UP again. OIL shares came down a
point to points on unsubstantiated
but widely circulated reports that
there was to be another cut in Penn
sylvania crude.
The Jump OF points in Crucible
Steel was the cause of much salts
faction to those who haSe maintained
all through tie recent decline that
dividend resumption was In sight be
cause OF the very %atisfactory condi-
tion of the ccmpnny's business.
Coca Cola broHe sharply at the
opening, not becau"e the increase in
tie dividend tC 81 was di@appoint
mcnt. but rather following tie con-
good news." Subsequently the
stock recovered a fair part of the lost
ground
In the railway group New York
Central went above 80 at one time
but later eased off. Atlantic Coast
Line made new high for the move
ment and 20 did Atchison. Among
the loW-priCed rails the Eries were
conspicuous.
Financial Review and Outlook.
1t was an uninteresting and alto
gether unimportant day in al the
markets today, No doubt Wednes-
day'H prospective suspension of busi-
ness was partly rcsponible for this.
but ~ tn Htatn ii was the natural
indC ision of speculative markets
which as in the cases of stocks and
col from a prolonged decline and
which are waiting te get better
line on outside conditions.
The one development in the gem
eral business situation was rather dis
appointing further drop in the
copper metal to 10 cents pound
which is half cent under bid price
At the close of last week and the
lowest it has touched since the re-
action set in from the seasons high
of 17is. This fall in copper has upset
predi, tions which were made from
high quarters in the metal trade early
III the year. but these authorities
would doubtless say that they could
not. ut that time. have furseen the
French seizure Of the Euhr and the
consequence curtailmcnt of the Ger
man demand.
Baltimore and Ohio Earnings.
Tdc favorable showing made by the
Baltimore and ohio during the first
four months of 1928 is not only indi-
Gated by the substantial increase IN
net operating income, but more par
ticularly by the fact that during that
period so per cent of the company s
fixed charges for the entire year were
covered. Net operating income in
April was S4.01l.4S1, as against So
734.o34 in the same month last year.
Directors of Pere Marquette are
scheduled to meet about the end OF
June for dividend action, and the be-
lief is still held i'm the street that the
the low-rriced rails, will become at
leas: IL thrce-doilar dividend payer
Sn,uc rcopIc look for 81. Lately Pere
Ma que tie -rhsro., have mai K ell time
following their rather sharp advance
aero 80.
Late Trading Dull.
The market grew very dull as the
day went on and interest narrow ed
to dozen or so individual stocks
One Of these was American Smelling
in which dividends at the rate of j
per cent are talked OF in June.
Dcsultory realizing incident to the
holiday brought prices down in other
parts of the list without, however,
producing any weakness.
Sugar stocks did little in the mar
ket OF the day but further light was
recovery by figures given out con-
corning the present Cuban supply.
All but II out Of 1S2 Cuban mills
have now stopped grinding, and there
fore fairly accurate data is available
as TO the result.