Evening star., 1924-08-18
NEW HIGH RECORDS
IN STOCK MARKET
Ship and Coffee Shares Are
Stronger-Stee| Common
Is Real Leader.
BY STU ART y. WEST.

Special Dispatch T." The Star.
NEW YORK August lS.-ManS
new high prices for the season We're
made on the Stock Exchange TO-DAY.
But still the movement was very II
regular. Shipping stocks and the
copperS AS the ones most interested
in a European settlement. stood out
urominently. Crossing A., interna-
tionaI Mercantile Marine preferred
got into new high ground. American
international and other related shares
were drawn along.
Anaconda Copper sold at 40 for the
first time in Il long while, henhe'ot'
was strong above f9. Inspiration
gained nearly "A point, Utah ran UP
sharply and Chile went through th"
bond conversion figure of 80. Ihe
argument of improved buying po" er
abroad, implying II larger ocean-eaF-
ryipc trade and more of Il demand LOT
copper WAS sufficiently familiar.
steel Common Real Leader.
I-pited States Steel common was the
real leader As ii drew across llO
for the first time in 1924. 1t en-
colntered two sets of buying. One
was supplied by bear traders who had
put in stop orders just above the pre-
yious top of 10. The other was BUY
ing for long account by people VINO
reasoned that. having been strong
enough to get into new hish terri
Tory the stock was in the midst OF {.
new forward swing. Other steel
shares-Bcthlehem. Republic and Cru
cible-werc carried along. Sloss-
Sheffield. rejecting confidence IN the
turn in the. pig iron situation, passeu
20 for the first time.
Maxwell Motors \ was the feature
OF the motor group. and among the
oils special strength was shown IN
Marland and in Pure Oil. The lat
ter at one time was up point.
Rubber shares kept on with their
advance. following another increase
in crude rubber prices. L. :. Rub
Der LIST preferred added SubStanu-
ally TO its IL. point gain of last
week. Fisk common crossed on
comparatively large transactions.
Railway shares Active.
The features in the railway isi
We're Missouri Pacific preferred and
Texas and Pacific. In the case of
Texas. the earnings. which are running
al the rate of : per Cent on the STOCK
would readily justify an advance such
AS has occurred in the last fortnight
Missouri Pacific preferred has less
incentive, SO far as earnings are con-
cerned, for these are not enough as
Yet to encourage hope OF early dIVi-
dends. But much is looked for from
the new guiding spirits in Missouri
Pacific affairs and the road goes
through the section which promises
to feel the most the effect of the high
corn prices and the rise i'll wheats.
Chain store stocks Lively.
Department and chain store stocks
were taken up during the last hour
and "a half May Department was the
leader on the persistent talk OF an
increase in the dividend. Th" present
= per cent iS manifestly too low for a
stock which is selling today not tar
from par. Macy and Company and
,;inblc Brothers shares were IN de-
mend.
Realizing sales were heavy in the
can stocks. in Baldwin Locomotive Ve
and in other of last weeks favorItes.
In fully half the rail list the changes
were unimportant. Zine stocks came
in for attention in the late afternoon
on better reports emanating from
their Industry.