Evening star., 1923-12-14
FURTHER ADVANCES
IN STOCK MARKET
Several Inactive Issues and
Others Higher-SugarS
and Oils in Lead.
BY STUART p. WEST.

Special Dispatch TO the Star.
NEW YORK, December l4.-The
advance of prices in part of the Penn
svlvania crude oil field following
THURSDAYS increase in the Texas dis
trict made the. oil stocks prime Ia
vorites in the stock market today.
The street has felt sure for the last
month that the oil situation was on
the mend. but these price develop
ments made il more than ever con-
fident
Nearly all the active oils sold above
their previous high for the present
movement. the leaders being Cali
fornia Petroleum Oil. Pacific OIL
Standard Oil of New Jersey, Cosden'
Sinclair, Skelly, Associated OIL ana
Producers and Refiners.
Sugars Score New High.
Again the advance in the Industrial
section was quite widespread. sugar
stocks made new highs accompanying
the downward revision by recognized
authorities In their estimates OF the
1924 world sugar crop. Buying OF
United States Steel common was very
persistent and again recalled that TINS
is the time of year when the colhpahs
usually makes It's purchases OF STOCK
in the open market to be offered later
on to employees.
Newcomers to the list of specially
faVorites were National biscuit,
American Metal and Hartman Cor
poration.
The last-named stock, paying 81,
was selling, even after todays al :
vance on ii 91a per cent basis. It's
earnings are reported to be running
at the rate of $50 for the year, and a
further incentive back of the recent
buying has been the talk chat higher
dividends were in store for 1874
Great Northern Dividend.
Declaration of the regular dividend
on Great Northern preferred had
some effect upon the stock. but 1t had
been quite expected. More interest
attached to what the Northern Pacific
directors would do at their meeting
scheduled for next w ednesday. 1t Is
reported that the regular rate Will be
maintained, although II has not been
fully covered by this years eaSningS.
But that the street IS none too con-
fident on the subject was indicated by
the refusal of Northern Pacific stock
today to respond, as might have been
expected. To the Great Northern action.
The three principal points of in
Quiry in today'S market were whether
the stock exchange could maintain
the dISeiti dlihS laNO VI -. "a -
day. what cotton would do on the
monthly consumption figures, and
whether or not sterling would show
relief at the completion of the prep
arations for the s92, 100000 debt pay
ment which Will be put through Sat
urday.
Inactive stocks Wake Up.
A number of ordinarily inactive in
dustrial spectaltieS were bid up to-
day. and among them were several
issues in which speculative cliques
are understood to be playing a part.
Martin Parry. a manufacturer of au-
tomohile bodies, went across 30. anu
the buying here was based upon good
earnings and the possibility OF an
increase in the dividend to Sc annu-
ally.
International Cement, selling ex-
dividend, at one time had more than
made up the 81 taken off the price.
international Paper was more active
and the advance was helped by re-
yised estimates placing the figure
for 1928 above the s. figure.
Sugar stocks, particularly Cuba
A helpful factor was the publication
today of revised European beet and
world sugar crop estimates by in
tluential interests in the trade. Will
let and Gray declared that they had
lowered their estimate of October 20
of the 1924 world sugar. crop from
I9l45,5OO to 1S,602,50 tons. They
also estimated that the European
beet crop would total 4,725,500 tons,
as against their previous estimate of
1922 O00 tons.