Evening star., 1924-11-15
HEAVY WEEK END SALES
BY STUART r. WEST.
snccial Dfsnatch 10 Eli. Sta

SneclAl DlSpa1ch 20 fDs Star.
NEW YORK. November 15-To-
days two-hour business on the Stock
Exchange wound up with somewhat
indecisive results. Price changes were
about evenly divided betue cen advances
and declines. On the whole, it was
TO be said that the market today sus-
tanned the heavy week end realizing
fairly well. maintaining an undercurrent
o. strength and at the same time en-
couraging a good deal Of fresh buying at
rising prices in special issues.
The principal strength lay among
stocks belonging to the so-called spe-
cialty class International Harvester.
Greatwestern Sugar, Worthington
Pump and Savage Arms were con-
spicuously strong. Among the motors
the Maxwell issues were in quite
urgent demand. and Jordan made a
new high. The features in the public
utility group were the Am erican
Water Works. especially the per cent
participating preferred, which made a
new top, and Columbia Gas.
Railway Shares Quiet.
Nothing extraordinary happened in
the railway section. but most os these
stocks were strong. Atchison. above
112, was up nearly 8 points from the
low OF the reaction I'm the middle OF
IDENTIFY got over what disappointme ent
had been caused by the failure OF di-
rectors to increase the dividend ~
the recent meeting. New Haven did
not follow the rise in the company s
bonds.
AIarland Oil was sold on the puhli
cation of the report for the third
quarter showing a deficit of s2+2S.SS1
Other oil shares we're he&v... despite
The optimistic references regarding
the oil outlook which have been COM
mon in Wall Street for the last week
or more. American WOODEN. above s."
was up over II points from the re-
cert low.
Mack Trucks. International Paner
and the Fisk Rubbers all showed spe-
e.al strength. On the other hand
most CT the sugars were lower, and
the reaction was quite pronounced in
American Can and United States Cast
Iron Pipe.
Maxwell Motors Active
Maxwell Motor stocks distinguishe ed
themselves in their advance TO new
highs for the year while other motor
shares followed the course of the
general list. 1t was plainly case OF
The market discriminating between
the stocks Of automobile companies
nlent, and those which have done
little more than earned dividend re-
ouirements. MaxUell's net profits for
the third quarter amounted to about
four times the net for the first six
months. The quarters balance for
dividends was equivalent to s2.36 d
share for the 8 stock after allowing
for the per cent dividend on A stock.
The full years ret is expected TO
exceed $50 share for the A and to
reach nearly 81 for the E.
Savage Arms rose to another new
high, and like Worthington Pump at
tracted especial attention because oe
the story OF market sponsorship at
taching to it. At the same time il
was regarded as significant that. the
nove in United States Cast Iron Pipe
had received a check. The name of a
we'll known Wall Street operator has
been connected with these three
stocks and has been responsible for
the growth OF. speculative following
which, in turn, has bought heavily
81 both Savage and Worthington. The
gossip was that this operator had left
Cast Iron Pipe on its own for the
time being.