Evening star., 1923-03-13
ADVANCES CENTER
IN SPECIAL MOVES
Professionals Force Prices to
Higher Levels in Firm
III. Market.
nv SIT ART r.. WEST.

ercciql Dispatch +" The Star.
NEW YORK March l3.-lntereSt IN
today.s stock market ceHtered again
in specially moves. Por!s ana pro
fossional operators continued to "orh
With considerable success on the sue
of higher prices. 4 further advance
in the price of raw sugar drew atteh-
tion to the downward revision recent
~ made in estimates ON the new 'u-
oan sugar crop. Heavy buying came
into the sugar stocks. carrying them
mn To 3 points 10 new highs for the
season.
Mack Trucks Active.
The first sale Of Mack Trucks "c-
,urred at 2i2-polnt advance over
the Monday closing. and Associated
Dry Goods crossed 50 for the hrst
F!me. There was nothing new now
ever. to he said in Connection with
ihese two stocks outside of what mas
repeatedly been pointed out regardins
treir earnings. Both are showing be-
tween S15 and $50 a share and the
rise is simply taking account or the
stcr that If this ratio Of proht keeps
>, they have been selling out OF
I:lt.
sur states Steel was the leader OF
tte steel group. The company Is
oreratinc al capacity and Wall street
Ms recalling that the stock used to
my 10 per cent is talking an in
arcase in dividends Rubber and tire
issues we're not so much affected ny
Mondays 10 per cent increase ny
rpited States Rubber as they were
by the anticipation OF further IN
rreaseS within the next few days
Ali Of them were strong. with United
Ststes Rubber and Kelly Springfield
tn. most prominent. The pool III
American can took hold Of its spe
cialIy again ard houses active IN
past upward movements in Stude-
baker were back OF the rise in that
stock
Review and Outlook.
r1doubtedl, the inspiration for
most of the days buying on the stoch
cAcfancC came from purely profes
Siona1 sources. In other words, u
vas not q spontaneous demand fol-
Stoc:s on the part of the outside pub
lie, hut rather a someWhat 3raTi '
extension of operations by the wal
street syndicatss. Still the essentia
pom. so far as the immediate situa
ton WAS concerned. was that the pro
fcssionals would not have kept work
ing On the side of higher prices hae
actual holders OF stocks been selling
in auy large way. The line of lesser
rtsis lancc still lay upward if not ro'
the ntirt list. Vet for large number
of Individual shares.
TIE sharp advance again today II
Puma Alegre Sugar appeared 10 MT IT
Will ths very Favorable information
With the street has in hand regard
INK the production and financial oper-
ationS Of that company. IT Is estl'
mated that in 1928 Punta Allegro vii
earn spprc ximatelE ST = share on its
$4,000 shares of common stock after
allowing for increased costs ant
Other .narScs and on the basis of 4
cent sugar.
General Cigar at New Top.
Geueral Cigar rose to a new high
today on active trading before any
ported again that the directors woul6
increase the dividend from the pres
ent &C 70 81 annually. Earnings are
understood TO be typical of the pros
perty credited generally TO tobacco
companies.
Nest brokers continue to complain
of ire trouble today, declaring tha
the storm which played such havoc
in the Mississippi valley has KEEP,
mary important communities from
participating in the market. The
wire systems of the big commission
houses were paralyzed yesterday. ano
instead of having through wires al
the start of business today 1t was
necessary to send communications for
Pacific coast clients by way of Canada
The only difference between the
mopcy market today and that of Mon
day was the lenders were showing .
growing lndisposition to offer money
on the longer period at present rates
Sterling exchange was somewhat
tirrer. and so were francs, but IT
neither instance was there any change
nf consequence. As matter of fac
francs have remained virtually sta
tiors.ry for the last two weeks, re-
producing in this quarter in the finan-
cia' market the deadlock in the Ruhr
sugars Lead All Day.
The rise in the sugar stocks was
the leading feature all day on the
sto X exchange.
Tne sugar stocks reached their high
prizes in the last hour and at the
same time the remarkable advance
continued in Associated Dry Goods
ano IN Mack Truck. the latter at last
carrying along with it White Motors
Railway shares did rather better
the most interesting feature being the
recovery of over two points at one
time in New York Central.
downright. 1928