Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-09-18
MARKET IS STRONG
IN FINAL TRADING
Easy Money Rates Help to
Lift StockS-SteeI Shares
Stand Out.
BY STUART p. WEST.
Snecisl Disna tch to The Star.

Special Dispatch TO The star.
NEW YORK, September 1S.-Under
the influence of the easiest money
conditions ever known in the early
Autumn the stock market today was
generally strong. The official call
loan rate remained at 9 per cent, but
this was purely nominal. Money was
virtually unlendable in any volume
at this figure. The bullish effect of
this extraordinary ease in money was
more than enough to offset political
uncertainties. The upward movement
was by no means uniform Certain
stocks were offered freely enough to
prevent any further advance and
bring about some reaction. But OPP
erations for the rise on the whole
were conducted with more confidence
than at any time in month.
Steel shares stood out strongly
throughout The interests back of Col
orado Fuel and Iron appeared to be at
tempting to repeat the move which was
started from around 80 and culmiN" "
at "a in the Summer Bethlehem Steel
did better. selling freely above 40. Sloss
Sheffield held it's gain and United
States Steel common was well sup
ported as it crossed 100.
In the motor group. Studebaker
made a new high record for the new
stock. Dupont was run up sharply
and there was heavy trading in the
General Motors issues. both on the
big board and on the curb. A short
interest in Stewart-W Warner. put out a
week or so ago, on reports that the IS
dividend was not being earned and
that there would have to be further
cut. was driven in. Rubber and tire
shares continued strong.
Tobacco Stocks Strong
American Tobacco finally came into
its own after various false. starts.
Earnings are. well up to the best on
record and the first years profits
from the contract with the Tobacco
Products Corporation are expected to
amount to around $1,000. 900 net. AS a
result the plan is to declare something
extra on the present stocks before the
end of the year. Schultz Retail Stores
and Lorilard were sympathetically
strong.
The department store and dry goods
group were again conspicuous, particu-
larly Associated Dry Goods and May
Department Stores. Union Tank Car
was bid up again on reports regarding
n stock dividend. United Drug con-
tinued its advance, and there was a
sharp upturn in Postum Cereal and in
Beechnut Packing. The special opera
ton continued in American Chicle, the
paratively little stock for sale on the
way up.
General Baking. responding to the
denials of a baking merger. sold at
40, against the recent high of 1874.
Nevertheless, those we'll informed still
insist that negotiations for combi
nation of baking companies are well
under way.
According to current reports. the
Vacuum Oil Company. a Standard Oil
subsidiary, is expected to announce
next week that it has taken over the
active operation of the plants en-
gagged in the publication of oil by the
Silica Gel process, owned by Dawson
Chemical. The latter company will
benefit on royalty basis. The sig
nificant thing is that Vacuum has
found the process satisfactory.
Allied Chemical common has paid
little attention to the talk of revivin &
German competition in the dye in
dustry. Recently it was pointed out
that Allied Chemical is making 80 per
cent of the colors at figure well
under what the foreign makers can
charge.
MARKET CLOSES STEADY.