Evening star., 1924-10-27
MOVES ARE MIXED
IN LATE TRADING
Election Puts Check on Buy
ing Activity-Many Traders
Are Taking Profits.
BY STUART Il. WEST.

A ID y ASS
fpccial Dispatch TO The Star.
| NEW YORK, October 21.-Fluctua
tons in the stock market today re
feCted rather sharply opposing opin
z IONS on the situation. Some though
that everything favorable to be eX
bGCted from the elections had alread,
been discounted. others took a con
trary view. AS a result. the pric,
movement was very uneven, stock!
falling away in the early part of th'
session, then steadying later
Railway shares Quiet.
Railway shares were not as rul,
responsive TO the September traffic
figures. which were published in large
number over the week end and during
the day. Reason enough for an in
creased dividend for Atchison wa:
seen in the jump of nearly so per cen
in net earnings as compared with thu
month last year. Yet Atchison stocl
did nothing. Neither did the highly
favorable statement of New YorI
Central have any effect upon tina
stock. Railway shares simply moved
with the rest OF the market. At on,
time. Union Pacific was off two points
Chicago and Eastern Illinois preferred
lost nearly half of last weeks 6i2
point gain. Realizing sales checked
the rise in st. Louis San Francisco
after the stock had again crossed 80
Northern Pacific and Great Northern
preferred were sold on the Septembel
statement which compared unfaVor.
ably with last year.
81. Paul Earnings Improve.
ON the other hand, the explanation
for the heavy covering of the last
few days in st. Paul issues appeared
IN the returns for last month. The
Interesting comparison was not 81
much with the month in 1928, al
though increases were reported OF
S%23, 600 in gross and $3G0,000 in net
The more significant thing was the
difference between results for Sep
trmbcr and those for August, net
operating income rising from s1,450,-
QUO in tn" latter month to S3,024, ,941
in the former.
There was a lot of bearish gossip
on American Ice, connected with un-
favorable forecasts of. what the com
pany would show for the present
year. The common stock was offered
down again, Daniel Boone Woolen
made Il new low under 10. retiectins
the unsatisfactory profit margin still
obtaining in the woolen industry
The violent break in Yellow Cat
Manufacturing was accompanied by
reports OF very poor earnings for the
third quarter.
FIeischnlan & Co. stocks was
bid up to new high above so or
talk of increased dividends before
selling back, and Maxwell Motors "A
WAS strong again. Accounts OF how
the great success of the new ChrySler
car has revolutionized the Maxwell
situation continued to come in. One
of the big Wall Street houses stated
today that whereas Maxwell had
earned = "a during the first half year
or the a" stock, its net profits for
,he third quarter were four times this
amount.
sharp advances in the grain and
cotton markets were the principal
feature in the situation today. The
stock market was not of much i'm
portance. neither was the bond mar
let. Sterling exchange was some
what higher Francs were sta
tonary. Nothing of consequence de-
yeloped in the money market.
The stock selling which came in
today was inspired by one considera-
tion, namely, that whatever good the
elections were going to do to Wall
Street had been measured by the re-
cent price movement and that it was
time, therefore, to take profits which
had accumulated upon speculative
holdings. This profit-taking was
large enough to discourage fresh op-
erations for the rise and to bring
about a moderate reaction.
ENAPRET rTncEC IJEAuv