Evening star., 1924-10-02
REALIZING SALES .
HEAVY IN STOCKS
Several New 1924 Tops Also
Observation-Disclosures Are U.s.
ing Greater Caution.
BY STUART T.. WEST.


Special Dispatch to The Star.
NEW YORK October Pea lizint
sales were heavier in the stock mar
ket today. They were not SutfiCien
to prevent new high prices being
made in numerous instances. Bu
they did throw the list into greater
irregularity as the day went on.
Oil shares were helped by the fall,
ing off of 14,500 barrels in the daily
average crude oil output shown iT
the weekly report. Further shor
covering came into the Pan Amer
leans, and Maryland around 80. Phillips
around 80 and Cosden just under "a
were receiving better support. There
was, however, no disposition to un'
dertake hullish operations yet awhile
in this quarter.
Opens 6h Points Higher.
St. Louis San Francisco preferred
opened up 6l2 points on the news
which did not become public unit
after the close of business Wednes.
day that the stock had been put or
S6 dividend basis. This demon.
Strated that the street was by nc
means prepared for the announce
ment. although it had been optimistic
on Frisco issues for some time past
The way is now open for something
to be paid on the common, and such
action is talked of for early mex
year. Some sympathetic buying oc-
CURED in ST. Louis Southwestern COM
mon which is earning $40 share
and could easily pay dividend.
Among the equipments Railway
Spring reached a new high around
136 and Baldwin crossed 124
a reaction following later. Industria
Alcohol dropped off over a point
while Mack Trucks was running VI
to l02. Corn Products on large trans
actions got across 81 for the frs
time, and the upward movement
continued in Montgomery Ward
based upon the August increase o,
over so per cent in sales. The cop.
perS were decidedly heavy again.
Greater Caution Noted.
Relow the surface sentiment wa:
more cautious. There was more of {
disposition to dwell upon the exten
of the recent rise in parts of the lis
and to call attention to signs of some
rather significant selling having oc.
Cured. 1t was also possible to de
tect here and there a feeling no
quite so Snre about the political sit
uation. Conditions in Iowa and il
California came in for more atten
tion.
United States Rubber directors were
expected to declare the regular quar-.
terly per cent dividend on the first
preferred at their meeting after the
close of the stock market today. Ir
the first six months of the year net
income equaled $2.04 a share on the
common after all charges and pre-.
ferred dividends. 1t is calculated that
the 1924 profits will equal at least s.
a share on the Junior stock and, if the
footwear business is as good as officials
will be nearer sS.
Consolidated Gas Thrown Over.
Selling broke out in Consolidated
Gas of New York to the accompani-
ment of various rumorS. One was
that the company would cut electric
light rates. Another had it that dis
appointment was being shown that
more had not been paid in dividends
Still was another to the effect that
the company would do no more new
financing in the shape of bonds.
A run-up occurred in Mack Trucks
rejecting the feeling that the third
quarter was more favorable than
many had anticipatedt In the first six
months Mack had available the
equivalent of S10.1S share on the
common stock. In the quarter ended
September 80, 1923. Mack's balance
for the common amounted to $5.44 a
share. In the second quarter of 1924
the net for the common was s6.14 a
share