Evening star. [volume] (Washington, D.C.) 1854-1972, 1924-11-24
SPEC|ALT|ES LEAD
SPECTACULAR RISE
Prices Move Rapidly Upward
in Afternoon Trading
in Wall Street.
BY STUART p. WEST.


NEW YORK, November 24.-There
was no 1et-up in speculative activities
on the stock exchange today. The vol
une of business continued we'll up TO
the recent maximum. Over mutton
shares had been dealt in by noon, and
this rate was maintained pretty well In
the subsequent trading.
Railway stocks were about evenly
divided in their movement some of the
recent leaders falling back quite sharp
" while other members of the group
were taken up to record figures In the
industrial section the upbidding one aft
er another Of stocks Of the specially
type was again the feature. One of the
strongest groups were the rubber and
tire shares. Tobaccos also were favor
ties.
Rubber Shares Strong.
The street was not surprised at the
strength of the rubber shares. Such
n movement has long been anticipated,
In consequence of the much better
position in the crude rubber trade,
with the attending increase in in
ventory values of all companies
where crude rubber is important as
a raw material. The belief is that
whether or not this will be shown in
the 1924 statements to any large ex-
tent, it will be reflected in 1925, and
be an offset to the active competition
which for the last few years has
been keeping down profits in the tire
trade. Goodyear preferred was up
nearly points, U. S. Rubber, Good
rich and Kelly Sprin gfeld from l u
to 21z. There was active trading also
in Fisk Rubber common, anticipating
early resumption of the dividends on
the preferred.
Rail Shares Irregular.
The rail stocks were extremely
variable The ST. Pauls continued to
be bought, especially the preferred,
looking forward to very favorable
October earnings report which Will
be published either "Wednesday or
Friday. Seaboard Air Line preferred
was also very strong at a new high,
and so were Western Pacific and
Chicago Great Western preferred. On
the other hand, there was heavy
profit taking in Rock Island. which
mad been the leader on Saturday, and
active selling also in Atchison and
New York Central.
st. Louis Southwestern was of
sharply and St Louis-San Francisco
reflected in its uncertain fluctuations
to difference of opinion as to whether
the dividend would be at the rate OF
or at the rate of per cent. In
the first event, the stock around Of
looked to many to be high enough.
Chalmers in New Top.
Recent buying in North American
which carried the stock up from
under 35 last week to 40 today. was
explained by the action of the direc-
tors in declaring stock dividend
which made a cash equivalent at the
rate of $40 on the year instead of
the previous $40.
Allis-Chalmers was in demand at a
rev top. The report persisted that
the company would announce deal
with other interests which would re-
suit favorably from the stockholders
standpoint. Allis will earn approx
mately 50 a share on the common
stock this year. In 1928 slightly over
SIS a share was reported on the COM
mon. New business has been coming
in at record rate for this season OF
the year.
Resumption of regular dividends
on Fisk Rubber preferred and the
payment of something on arrears on
that issue, We're confidently predicted
in banking quarters. Fisk Rubber
stocks were strong today. There Is
an accrual of about % per cent on the
preferred stock. Earnings have been
running close to SIS share.