Evening star., 1924-01-31
TRADING IS LIVELY
IN MOTOR STOCKS
Advance in Price of Cadillac
Cars AnnounCed-Oils
Very Irregular.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK. January 3l,-Motor
stocks played IA more prominent part
in today's stock market than they
lave for some time past.
Heavy buying had appeared in Cen
eraI Motors just before the close
Wednesday. It continued today and
carried the stock up to the highest
reached so far this year. Accom-
panying this was IL spectacular jump
in Du Pont.
The next dividend meeting on Gen
eral Motors is scheduled for Febru-
airy IL. and there is considerable talk
Of dividend increase from the pres
ent SlcO to as high as 81 share.
Wall street was inclined to regard
the price increases announced Tor
certain Cadillac models as the fore
runner Of ii general advance IN list
prices.
Studebakcr Very Active.
S,udebakcr had Il quick run up
early in the day. but came back just
about as quickly. Declaration of the
regular dividend at the rate of 10
per cent WAS all, that had been eN-
uncted. and the reaction in Stude-
baker stock which followed could
not by any possibility have been re-
gardrd as an expression of diSap-
pointment.
The demonstration IN General
Motors led to sympa thctic rise IN
Chandler Also il lifted the pres
sure from the rubber aud tire shares.
United States Rubber and Kelly
Springfield rallying moderately. some
OF the motor acCe SorieS were drawn
along. but as Il group they were not
oromincnt Hayes Wheel had quit"
= fair recovery. although the declara :
lion Il the dividend at the rate of 81
Il share did away with the preteXs
upon which the stock was bid up
from around 40 to above 90.
oil shares were very irregular.
Shell Union oil continued its rise ana
on large transactions reached ~.
There was also quite bit Of buying
for time in Associated Oil. but trad
rrS who bid Pacific Oil across 30
found that they were running into
heavy offerings. There was also plen-
~ of profit taking i'll Standard Oil of
California. in cosden and in other
oils which have recently been pppu-
lar.
shipping Stocks Advance.
Shipping stocks came in for more
attention and there was quite q lively
advance in the Mercantile Marines. IN
American international an | i'll At
lantic. Gulf and West Indies. The
status of current earnings % these
companies is Il subject of much t'rs-
pute.
The acute stage of depression has
been passed and ocean freight rates
have mended somewhat. Now it is
question how important this recovery
has been. Not long ago the president
of the International Mercantile Ma
rine returning from Europe. express
ed himself as frankly pessimistic.
The report in the street today that
the regular 81 quarterly dividend
would he declared by Famous Play
ers directors at their meeting sched-
uled February II. resulted in active
covering in of shorts. 1t has been
generally believed that a large short
interest has been built up. in this
stock on the theory that business has
not been as favorable as anticipated
and that the company appeared to be
involved in a series of suits brought
against it by exhibitors and others.
At any rate the bearish talk received
somewhat of check today when II
was predicted that there would be no
reduction in the dividend
General Motors Price Gossip.
Two factors were responsible for
the heavy buying in General Motors
today The stock rose to Il new high
for the present movement. and with
ii went Du Pont, also to its hest
prices. 1t was said that General
from the present s1.20 annually to
90 on February IA. The price of
Cadillacs was increased today.
American Sumatra. after its break
OF nearly points yesterday was no
ticeably weak again today. The eX-
PLANTATION seemed to lie primarily in
the failure of the deal which Loril-
lard was expected to make with Con-
solidated Cigar Lorillard was to ac-
quire the latter, but since the plan
was abandoned. Consolidated Cigar is
i'll no better shape to pay off it's
debt of approximately s2,000,000 to
American Sumatra than it was a
while ago