Evening star., 1924-11-13
TRADING GOES ON
At TERRIFIC PACE
Yesterdays Decline Soon
Followed by New Wild
Burst of Buying.
BY STUART y. WEST.

Special Dispatch to The Star.
: NEW YORK, November 13.-The
stock market turned upward again
today following the irregular decline
of Wednesday. Some very sharp ad-
Nances occurred in high-price indus
trials and in a few stocks of the
specially type. But in the general
list the movement was comparatively
moderate.
In connection with the new high
record for American Can attention
was drawn to the fact that its pro-
totaype, the original Corn Products.
sold as high as 1875 before the capi-
tai split when four shares of new
were issued for one of the old. Those
who believe that American Can is
in the same position and Will an
nounce before long a similar recapi-
talization plan set a good deal OF
store by this circumstance.
Some Violent Advances.
There were violent advances in
General Electric, which went above
go, in L. S. Cast Iron Pipe, in Du-
pont, in American Ice, in Postum
Cereal, in Central Leather preferred
and in Sears Roebuck. The strength
of the leather stocks fitted in with
the reports of continued improve
ment in the leather industry. The
jump in Dupont brought a rush OF
buying into General Motors which
carried the stock to So This was in
the nature of a tardy response to the
declaration of the dividend at the
rate of So. Other specialties which
were actively bought at advancing
prices included Mack Trucks, White
Motor, International Combustion En-.
Sineering. Montgomery Ward Ameri
n Mt
camille Marine preferred. New York
AIR Brake and International Paper
Sugar Stock Strong.
There was no change in the sugar
trade situation to account for the
strength in sugar stocks In fact, ca
bic advices told of further reduc.
tion in English quotations on refined
sugar. With the exception of Cubf
Cane preferred. which was bought or
assurances that earnings would bt
very satisfactory. the advance ap
peared to depend upon the retire
ment of the short interest which
grew to large dimensions a month
ago when discussion over the trad,
outlook was very bearish. The sud
den upturn in American Sugar wa:
probably due to nothing more thar
short covering, but it was associated
company proposed to use some of the
funds acquired through the sale o,
Great Western Sugar to increase it:
holdings of National Sugar sufficient
ly to obtain control
Southern Pacific Breaks.
Declaration of the regular dividend
on Southern Pacific was IN line witt
the best informed forecasts. The
stock sold off sharply on the news
although the opinion is that increase
from to per cent is only a Ques-
tion of a short time.
The great strength displayed by 81
many industrial shares did not res
upon any fresh data. Rather. it wa:
a further expression of optimism re-
Garding the business outlook nov
that political conditions are regard
ed in Wall street as having beer
stabilized for another four years
The one thing obvious on the othe,
side was that this discounting o
prosperity was proceeding at a pret
ty lively rate.
Stocks do not increase in real val
he 3 to points over night, as Nigh
have been inferred from today's hap
penings. Where such advances occur or
top of an already very considerable up
ward swing it does not mean the ap-
proach of a eliminating stage. but il
does mean entrance into the eXtrava-
CANT stage.