Evening star., 1924-12-03
TRACTION SHARES
COME TO FRONT
Feature Today's Irregular
Trading on New York
Stock Exchange.
By STUART II. WEST.


Special Dispatch TO The Star.
NEW YORK, December 3.-Trac-
tion shares of Greater New York
aroused more interest in today'S mar
ket than any other group, this be-
cause of the sensational developments
IN the political situation a. they bore
upon transit affairs. Wall Street took
IN altogether favorable view of these
developments and proceeded to bid ur
Brooklyn, Manhattan and INTERIOR
ough Rapid Transit with a good deal
"f violence. The former stock at one
time was up over three points and
the latter two
The great strength in the traction
stocks probably had some sentimental
effect upon other public utilities
hut mainly the advance in this set of
stocks WAS based upon the feeling
hat they had not had their proper
share in the rise. Consolidated Gas
of New York was heavily bought.
Motor Shares Unsteady.
Frofft-taking made itself felt in
Studebaker. but after selling off
carly in the day the stock hardened
There was also active realizing in
General Motors. Hudson Motor
touched new high at SO. and the
Fierce Arrows We're in demand at
y
trading IN the common.
The extraordinary rise in United
States Realty stocks continued, the
common up over so points from a
week ago. Wall street had the report
that the company had sold the Plaza
Hotel and would distribute the pro-
reeds among its shareholders.
For days the street has been hear
ing about the rise in zinc to new
I'd until today to show it's appreci-
alton by taking up Butte and Su-
pcror and American Zinc preferred.
once the buying got into Anaconda
the stock Went forward with a rush.
kenneCotL WAS also heavily dealt in
around top prices. American Smelt-
ing went along with the others.
Wabash Leads Rails.
In the railway division Wabash pre-
-erred A" was lifted to new high
above IS on the idea that the full per
cent will he paid.
There was special buying in Texas
and Pacific and in Erie LIST preferred
the latter on the hint that whatever
the other obstacles may be in the
way Of closing up the Nickel Plate
merger. the part referring to the Erie
has gone through. Kansas City South
tit! W d. very St4tilS dSdLll L'L q llIliS
above IS. hut appeared to be meeting
plenty of stock.
Th, Pan-Americans were up quite
sharply and Houston did better
otherwise the oil group was slow %
follow the remarkable buying demon
stratcd in Pure Oil.
Philadelphia co. advanced sharply
and was within point of its TOP
for the var. Its advance was in
fUeRred largely by the hetter mar
l-t for public utility and New York
City traction shares generally. but
special causes were at work. y pos
Sthte increases in the dividend above
the current 81 annually was men
toned.
Buying of Brown Shoe was stin TAX
ing into account the remarkable inn
proVemeut in earnings. IN the fiscal
year ended October 81 Brown Shoe
earned Sf2.35 q share on its common
stock after allowing for dividends on
the preferred. The present 81 dividend
on tue common appears conso rvatiye.
National Ename!ing has risen from a
low of around is 10 we'll across the SO
level, Infavorab!e developments oc-
CURED one after another. and as a re-
suit The stock was freely sold. Subse-
quentiy buying on intimatinn of inn
Tr0vemCnt in the ComDany's affairs has
been going on at the expense of short
sellers.