Evening star., 1924-12-18
ENORMOUS TRADING
IN STOCK MARKET
Many New High Records
Again Today-Junior
Rails Extra Active.
by STUART T.. WEST.

Special Dispatch TO The Star.
NEW YORK, December 1S.-Today'
boiling stock market was noteworthy
because of the great strength In many
quarters of the list, the large mum
her of new high records, the broad
ness of the advance and the re-
markable performances in Individual
shares.
The volume of trading was again
heavy, and on no other day IN the
recent dealings have such large
blocks of stock changed hands
The buying of United States Steel
common at its highest for the year
was attributed to the operations OF
the half -million-share pool which has
been consistently behind the market
for this leader.
Junior Rails Active.
The eatures in the railway included
the junior issues of the type of New
Haven. which was actively bought at
n new top above 33. and such stocks
1T Atchison, Delaware, Lackawanna
and Western and Southern Pacific
Atchison was bid up to a record fig
ure. and Southern Pacific was in de-
mand at its best for 1924.
The stocks of several of the large
Eastern railway systems encountered
Il great deal of profit-taking, and
they relinquished their commanding
uosition OF the pre- ,eding day to
other members of the railway section
This was true of Lehigh Valley fol-
lowing its sensational advance or
Wednesday, of Baltimore and Ohio
and of Reading. Much of the time
these stocks We're quoted below the
previous closing levels.
Kresge Jumps Is Points.
One of the outstanding incidents
was the active demand for Sears
Roebuck and other shares represent
ing comranieS engaged in the dis
tributive and department store trade
Sears Roebuck had closed at 144A on
Wednesday, A block Of $500 shares
was recorded at 149 at the outset. Ii
then sold around the $50 level
Kresge Department stores jumped l.
points and Woolworth ran up to an
other new high. Associated Dry
Goods was bid up sharply to its best
prices for the year.
New Haven, among the rails, at
tracted unusual attention When the
movement got fully under way in this
stock there was much talk about the
PENNSYLVANIA buying New Haven IN
the open market. Also thought was
given to the idea of four of the large
on a Joint operating lease. Proht-
taking sales made themselves felt
but this selling was we'll absorbed
Wheeling and Lake Erie was another
feature in the. low-priced railway
group.
Wall street Features.
American Locomotive gave an i'm
pressive demonstration of strength as
1t rose under heavy buying to Its
highest for 1924. The company is
expected to enter 1925 with approx
mately S20,O00,000 business on the
books. ands earnings are likely to run
considerably in excess of the recent
average Net income for this year
has been estimated at SO share
No increase in the regular s6 divi-
dend is looked for, but an extra IN
1925 is not at all improbable.
The move in Associated Dry Goods
was influenced by the remarkable up
swing in s-Roebuck, but there was
a sound financial and earnings posi-
ton, as well as the prospect of more
favorable dividend action behind the
buying. The company will earn 1ully
$40 share this year. a dividend in
crease or a stock dividend is expected