Evening star., 1923-02-09
MARKET ADVANCE
/ HITS new STOCKS
SpecuIators Shift From Usual
Leaders to Other Issues.
Tires and Sugars Up.
BY STUART y. WEST.


special Dispatch TO The Star.
NEW YORK February 9.-Specula-
yfvc interest in today's market was as
keen as ever on the side of rising
prices. but leadership was assumed
by :. somewhat different set of stocks
than those which had figured most
prominently on previous days. Special
attention was paid to stocks in which
u short interest was believed to be
still outstanding and these stocks
were put up regardless of their
merits.
Following the rise i'll Kelly Spring
fed. due to the expectation of ia
Sorablc annual report, more interest
was taken in tho other tire shares 1t
j: understood that certain options in
Fisk Rubber. against which there
had heen constant selling just above
Is. expired on Thursday. With this
obstacle removed the stock ran up on
large transactions across 10. AJAX
Rubber Lee and keystone Joined in
The advance.
sugar stocks Asain strong.
Cuban American Sugar continued to
hc bought on reports OF dlVluend
at the rate of s. to be declared IN
June. The stock crossed 80 for the
7
passed Puuta Allegro, although the
'ntt'r moved higher. too.
The American Tobaccos sold eN-
s:.eir quarterly dividends which they
nstGerahly more than regained'
rrb .rs was no news in connection
-tfrh the advance in these stocks.
- have simply been selling out OF
i.~a on the basis of their earnings
tad interest Weld.
The recent strength in Philadelphia
IN httI
ing u tho United Railways invest
ment issues was set down today to
something more than good earp-
ings situation. No real informa ton
was forthcoming from highest
sources. although there appeared to
he some credence given the report
that North American Company was
buying into Philadelphia Company.
North American Company stocks to-
day made new highs.
The 1922 report of Allis Chalmers
Manufacturing Company showed. as an
ticipatcd earlier in the week, the -
common dividend more than covered.
The stock had moved up in the market
recently. and when the figures were
given out profits were taken on the
good news.
Review and Outlook.
There was very little change in the
general financial situation today. The
only real piece Of outside news that
might have been expected to affect the
markets was the confirmation by the
Angova government Of the demand that
allied warships leave the harbor OF
Smyrna.
But the financial community has
been quite as indifferent all along to
Turkish affairs as it has been to de-
velopments in the Ruhr. Whether II
s.mp,y believes that Turkey Will not
dare to fight or that If she does the
ttrueEla will he over quickly, Is not
clear But it is certain that the pos
htbiHty of an Anglo-Turkish clash
has at no time aroused any uneasiness
IN banking circles.
The wheat market was the only
quarter where war talk had any ef-
feet Spectators in the grain pits
,nade use of the Turkish news to put
prices up But the stock and bond
markets as they always do. took their
cue from the action of the foreign. ex-
changes and these gave no sign what
ever of concern.
The stock markets again absorbed
most of the days interest. Here there
was no indication of any let-up In the
buying movement. There is scarcely
any such thing nowadays as gem
eral advance. even in the most opti-
rnistic of markets. 1t Is always a
series of group movements, with the
active trading element constantly
suitching out of one group into an
other.