Evening star., 1924-07-14
STOCKS HOLD GAINS
:. IN FINAL TRADING
|ndustriaIs Lead Lively -Ad-
| vance as Week Opens in
/ Wall Street. :
BIZ STUART p. WEST.

kpeeial bispatchro The Star.
view YORK, July Interpretations
Hor the rise on the stock exchange
fFere conducted with increasing con-
stdence today and :pra ctical.y every
tsection of the list participated The
tndustriafs were in greater demand
hhan the rails, although a. number of
Nhe latter were bid up to their best
prices for the current movement. 1t
sFas the buoyancy, of the more active
hndustrial issues. however. which at
tracted the most attention. There
(which to base. suclf fresh bullish
demonstration as, occurred in the
stock market, but it was apparent
Hlat. speculative synd1eates were
Heetfne with success In their. efforts
60 bid up their specialties.
= Stock Tp !3 Points. .,
1t was, in fact, to a great extent
speciality market, although the ad-
vance took in practically the whole
Industrial list, H. 20. ~. -
Among the spsrialtias! the most
spectacular happening was 1S-pofnt
jump in Phillips Jones, following an
advance of 2S points last week. This
extremely sharp unturu WAS due to
rumors that the total damages to be
collected by the company from COM
petitorS as a result of a decision in
its favor involving the use of a pat
ented collar, would amount to $1,000
600. equal 10 81 a share on Phillips
Jones stock. Cluett-Pea body stock
WIS weak again.
More New High Records.
United States Cast. Iron Pipe sold
above 100 for the first time this year.
This performance came in for con-
siderable comment, as did the con-
adx
Paper. which reached tops. Dawson
Chemical was one of the favorites
again. 3
Mack Trucks and White Motors
We're both in demand. the former at a
new high for the year. Likewise,
United States Industrial Alcohol and
Allied Chemical We're bid up and in
their case, satisfactory, earnings send
the prospect of favorable dividend ac
tion were the motiVes.for the buying
International Harvester, sold at. d
fresh tops the chief influence here
being the distinctly improved condi-
tions in the northwest. Central
Leather preferred continued it's up
ward movement and the shipping
shares We're pushed forward.
Railroad Shares Strong.
Among the rails. st. Louis South
western made a new high, Lehigh
Valley was still in demand and there
was active buying in other issues.
The rails as group, however, re-
manned less prominent than the in
dustriais. '-r :.-,. - '- >
Fresh buying in National Biscuit
was due to the expectation that the
second half years earnings would
be even more satisfactory than those
of the first six months, which is
normally the case. Net income of at
least So d share for all of 1924 is
anticipated.
jones Tea advanced sharply on the
idea that it had been neglected in
the recent upward swing in the chain
store shares. This stock was referred
to today in one quarter as "a mer-
camille issue with its troubles behind
it and with better prospects," In
the first quarter. however, net profits
available for the common stock
amounted to only IL cents a share.
Shipping Shares Gain. u
There was a display of strength
In the shipping shares, notably In
ternationaI Mercantile Marine pre-
ferred, Atlantic, Gulf ard West In
dies. and American Interna tionai.
Their movement bore out the bullish
predictions heard for some time in
Wall street that the securities of the
ocean freight carriers would reflect
their situation since the first of the
year.