Evening star., 1923-11-19
VAIL STREET LIST
IN SHARP ADVANCE
avorabIe News From Paris
Given as Reason for Quick
Price Upturns Today.
By STUART T.. WEST.

recial Dispatch to The Star.
NEW YORK, November 19.-The
rtock market was prompt to respond
today to the evidence furnished by
ihe ambassadors conference at Paris
pf genuine desire on both sides to
avoid a break of the entente.
Locomotive stocks led the way,
With Baldwin, American and Lima
III well above their best prices of
he present move. There was much
ak Of something favorable to hap
en- at Thursdays meeting OF the
baldwin directors New York AIR
Brake Joined in with these other
equipments. The latest figures COW
ring the nine months ended Septem-
her 80 showed that earnings We're
It the rate of nearly $3.50 share on
combined class A and common stocks
These are both now on a 81 basis.
Schultz stores Advance.
Schultz Retail Stores continued its
rise Those in touch with the COM
,,any's affairs would not commit
themselves on the question OF an eH-
ira dividend. They were content 10
oint to the high rate of return and
the ample margin back OF the Ss
dividends as sufficient reason Tor the
advance.
Schultz earned net s2.100000 in the
first six months of 1923 and is eN-
pected to earn $4,5Oo,O00 for the
twelve calendar months Thls Woui0
mean after all deductions something
like Sl4.
Maxwell Motors Go Higher.
The rise in Maxwell Motors issues
also continued. The street remembers
that the a stock had a thlrty-point
rise three years ago on the same sort
of talk of an IS dividend that Is going
the rounds now. 1t is therefore, eau
tious about accepting the present gos,,
sip. But it is fact that Maxwell could
easily pay the S. on the senior shareS,
to which they are entitled.
This requirement amounts to 81
100000 a year and the company earned
over S3.000,000 in the first six months
y liberal calculation places the prop
able net for the whole OF l925 AT
around $4,500,000
Stromberg Comes Back.
Other Specialtics in which opera
tons for the rise had been active. nut
which had been temporarily checked.
We're quick to come back. Among these
were StromberS, Cast Iron Pipe, IN
dustrial Alcohol. Computing and Tab
ulating- Recording and Marine pre-
ferred.
I.orillard was bid up several points
above last weeks closing level, and
the buying of this issue. as well as
that in Liggett x Myers recently,
was set down to favorable develop
ments in the capitalization plans ana
dividend possibilities of these two
prosperous tobacco companies. Both
have announced their intention of re-
ducing the par value of their COM
mon stocks from 500 to SIS. Earn
ings on the present stock in each case
amount TO more than $50 per share.
Lorillard is expected to pay at least
$3.50 annually on the new go par.
and it is reported that the rate on
Liggett & Myers common Will De
81 a. year.
Cuba Cane Preferred Strong.
Cuba Cane preferred was the
strongest of the sugar stocks, max
ing a delayed response to the publ
cation Of the favorable income state
ment and balance sheet for the fiscal
year ended September 80. Punta
Allegro and other members of the
sugar group had a sympathetic but
more moderate rise. Earnings OF
close to s13 per share We're reported
on the preferred stock.
The forthcoming earnings state
ment of the Pan American Petroleum
is expected to be more favorable
than has been generally anticipated,
and confidence is expressed in Ger
tair. usually we'll informed quarters
that the SIS disbursement to share
holders will be authorized at the
next dividend meeting.
MARKET CLOSES STRONG.