Evening star., 1924-10-28
RAILROAD SHARES
MARKETLEADERS
Marking Up of Call Money
Puts Check on Trading in
Closing Hour.
BI STUART u. WEST.

AhI WE
Special Dispatch to The star
NEW YORK. october 2S.-RailWay
shares We're paid more attention in
the stock market today than they had
the day preceding to the highly favor
bic traffic statements for september
Their strength. along with the eNpec-
tation that DEVELOPMENTS at the United
states Steel meeting, scheduled for
late in the afternoon, would be reas-
suring. induced a moderate buying
movement involving the major part
Of the list. Higher call money checked
final trading.
Steel common shares We're Well Sus-
tained, although not doing anything
at all important.
Rock Island Is Leader.
Rock Island was a leader among
the rails, responding TO the figures for
September, which disclosed a gross
gain of sl,225.00o over the month last
Year, and a surplus S721.e e00 larger. 1t
is anticipated that for the year Rock
Island will show nearly ST earned on
It's Junior stock. The buying, how
ever, has been influenced mainly by
The firm conviction that sooner or
later the road will wind up ) a unit
in new Southern Pacific system.
Other railway shares were inclined to
Go better, and there We're some special
points OF strength. Lehigh Valley ran
up over a point and the Seaboard Air
Line issues were unusually active at ris-
ing prices. Atchison. which on Monday
had ignored the September statement
with its jump from less than 81 600. 900
to over $4,000 00o in net income, finally
felt the effect. The buying which put
the stock 10 107 was inspired by the
reasoning that with such largely tX-
Ianded net revenues, an increase from
& 20 per cent in dividends was prac-
tically certain.
Maxwell Motors Strong.
The pool in Maxwell made further
Roadway, and WillyS- Overland pre-
ferred was strong. Some buying was
attracted to the Pierce Arrows by
the report for the September quarter,
showing u balance available for the
S per cent cumulative preferred of
II. .o5 against . cents during the same
Eeriod in 1923.
American Smelling sold above 50
for the first tins this year. The in
centive lay in the prospect Of higher
dividends. The copper stocks were
not especially prominent.
The CoGa-Cola report fulfilled eX-
pectations Net income of $2.3S6.S59
for the third quarter compared with
sl.2T0,2l0 a year ago.
Realizing sales came into F'leisch-
mann, because the latest earnings
statement showed scarcely any gain
over year ago. A further severe
drop occurred in Yellow Cab Manu-
featuring. Sears Roebuck rose to a
new high for the year.
L. $. steel Active Factor.
Undoubtedly what counted more
than anything else was the expecta-
ton that the United states Steel Cor
poration would make after the close
of business report for the Septem-
her quarter which would be alto
gether satisfactory, considering the
trying circumstances in the steel
trade. 1t was also remembered that
this is the time when in past years
the corporation has been Il heavy
buyer of the stock in the open mar
ket preparatory to its annual Offering
to employees.
The recent buying III Sears Roebuck
has been characterized as II tribute to
the entrance of new interests into the
company'S affairs. The question is
whether the buying will subside as it
did in International Paper. The latter
however is looked upon as d mystery
stock, while Sears Roebuck, with its
monthly reports, has substantial earn
ing power, definitely detcrminablc.