Evening star., 1924-06-20
STOCKS DOMINATED
!; +; by UTILITY SHARES
American Water Works Common
!! and Preferred Figure in Re-
|; markeble Rise.
SOUTHERN AT NEW HIGH
Railroad Obligations Extra Active
!. in Closing Trading.
ny STEW p. WEST.

-tsSpecial Dispatch to Tie Star.
,.NEW YORK. June 20.-Public util-
ffS stocks were the dominating tea-
tare in tn. stock market to1ay Inc
LEADERS in this group were the Amer
if.,n Water Works issues, the Unit ID
Railways Investment Company shares
PHILADELPHIA Co. Public Service ol
Npw Jersey and Utah securities.
:.The rise in American Water Works
oommon and 6 per cent preferred was
quite remarkable. Both moved for
ward rapidly and even bids OF SIX
ppints and more above the Thursday
Sosinr failed to bring out much
stock The earnings OF the company
are easily sufficient to begin payihs
G per cent on the common stock. ana
then increasing equally, as has to be
done, the dividends on both theSe
iTnior issues But the street has
rstf1er more in mind the Poss
OF the per cent preferred Delhs
caffed in order TO give the oo,ia,.'ot ,hia {.
Tear field. Under the charter TINS
& ner cent preferred can be retired
on sixty days notice at loo.
Other Utilities Strong.
Philadelphia Company made a new
biob above As, and so did lttsbursh
r'tiIities preferred, as repreSeh .iiis
the company which derives KS VINO,
revenue from dividends on fhiiauei-
phia Company. .,, Wa,
hid up across 40. Brooklyn Manhat-
tan Transit common was oouSht on
the favorite May statement sEoWihS :
an increase in operating reNenue "
slSS,000 over the month last seai
The move in Utah securities appeareu
strength in other members OF the
public utility group. ,.,,,,i
SaiIinC continued in Dawson Cheml-
cgT while Mathieson Alkan "as S
simultaneously bought on Sne rattar m3tr
received Thursday that the later
co.opanv had won out in securing
the contract for its oil refining proc
ess with the Pan American anu VIZ w,
Cosden. These movements appe. 49, !
however, to be highly speculative ana
to be eXaggeratlns the iihpo'
the facts concerned.
Southern Makes New High.
Railway shares were firm again
md some of them quite strong
Snuthern Railway made new nish
And there was d sharp squirt IN .Iul,
Mobile issues based upon reports ,nS
this road would figure IN dea
tsIinois central was thought to be
the most likely one to absorb the
O. If Mobile. q. e.. .be
: Southern Pacific, above "a Tor lne
first time this year. was once mo-
tbe subject of gossip as one OF tht
dividcnd increase poSSlbll1tleS. Deia
ware and Hudson was bought on tne
.ttractiyenesS of the investment re-
turn.
Today.s Moves InconclusiNe.
To-day : was characterized by a series
Of rather inconclusiNe price nov, Hrore
ments in the various markets. Every :
where the attitude was one or "ail
ing. but for different causes. ne
wheat trade and the cotton traGe
we're both hanging upon the unioiu
ing of weather conditions and alsS
10 get a better line. upon how mucr
the recent warm wave had done &c
offset the exceptionally poor start.
The foreign exchanges were dong
little one way or the other. Here tne
uncertainty lay in what was gong to
hanp.n next in the diplomatic par
iays. which, it is hoped, will LEAD &c
The putting into operation or the
Dawes plan. -.
The uncertainty displayed on the the
stock exchange Was commonly SCI
down to the near approach or the
Democratic convention The man
questions to be settled are Whetnti
there is TO be an anti-rallroad Piah n
and whether a candidate for fresl-
ant is 70 be chosen who will be IN
favor of radical treatment of the car
riers.
AIkaIi,s stock Strong.
: Mathieson Alkalis contract WIN
the Pan-American Petroleum ano
transport Company and with Cosden
for their use of Mathieson's patented
hvdrochloride process OF gasolihe re
fning continued to be the domlnatlns
Influence in the market for Maine
son Alkali, which advanced to ltS
highest for the year.
The street generally believed ina
the company would benefit substan
tally from these contracts ana ina
ether oil refiners would adopt the
process ~ 80
.Buving of Marlin Rockwell has oc
CURED in anticipation of the pay
mant of dividends at the rate OF )
annually. 1t is expected that al tne
next quarterly meeting, the dlvl
dend action will be taken
Railroads Lead Final Trading.
The buoyancy in the railway sec
tion of the stock market was th'
outstanding feature through the al
ternoon. 1t was all the more remark
able in that very soon now reports
will begin to come in from May. ant
If the carload figures are a fair crl'
terian. these will make the same az
in April-an unfavorable comparison
with the month a year ago.
TTcT CLOSES IRREGULAR