Evening star., 1924-11-23
DECLINES CHECKED
BY: ROCK ISLAND
Railroads Shares Take Many
Other Issues Along in
Sharp Advance.
EARLY LOSSES MADE UP
Recovery in Rails Helps Industrials
Gain-Wilson Packing Jump
Over Eight Points.
EARLY LOSSES MADE UP
By the Associated Press.

By the Associated Press.
NEW YORK, November 22.-Heavy
buying of Rock Island shares abruptly
checked reactionary tendencies in to-
days stock market and brought about a
late rally, which carried a score or more
issues to new 1924 peak prices. Called
upon to absorb a large volume of realiz-
ing sales, the market at the same time
withstood a concerted bear selling at
tack directed against leading issues,
which forced general recessions of ] to )
points during the first hour OF trad
ing. These losses were recovered before
the close, and prices of all classes of
stocks again headed upward.
Ticker 1. Minutes Behind.
Although the pace of trading mod
Grated somewhat today. total sales in
the two-hour session ran close to
million shares, and the sudden burst OF
activity in the final few minutes de-
layed the stock ticker by II minutes.
On buying credited to banking IN
terests closely affiliated with the South
ern Pacific Co., Rock Island common
scared points to so, carrying with 1t
to new top prices the roads two pre-
ferred issues. The buoyancy OF these
shares stimulated renewed accumulation
of other low priced railroad issues. st.
Paul preferred mounted 2ia points to So
and the common touched 1Ib, ootn
within a fraction Of the years pest
levels.
Substantial gains also were recorded
by Missouri Pacific preferred, New
Haven, st. Louis Southwestern. Colo
rado and Southern and pittsburgh d
West Virginia, the last three setting
new high marks.
Industrials Resume Rise.
Influenced by the recovery in rail
shares, numerous industrials resumed
their advance, which had been checkea
in the first hour. Early losses OF
to 3 points in American Can. du Pont,
People's Gas, Otis Elevator and Century
Ribbon. were substantially reduced or
cancelled, and slight net gains were
seenral throughout the industrial lst al
the close.
one of the best demonstrations OF
strength was given by the Wilson rack
ing Co. issues, which responded TO re-
ports of progress in reorganization piahe
The company's preferred stock railleo
ST. points and the common closed rs
net higher Gains of 4 points or more
we're registered by United Cigar Stores,
Stewart Warner and Union BAG anu
Paper. while Tobacco Products ad-
vanced pig.
Moderate advances in sterling ana
French francs marked tTduiIl5 III tiN
foreign exchange market.
Wall Street Briefs.
NEW YORK, November 22-Net
operatinG income of the New 1orh'
Chicago and St. Louis tNickel Plate)
Increased to s1,194.974 in October
compared with s552, ,2S4 in october last
year, although gross fell to s4.s'S'2f4
from S5.152,S99. Surplus sitter charges
was sS52723. against s9Oo.6ol a year
ago. Wall Street today heard more
ontirism expressed regarding the
conner industry than for some time.
StreSsing the potential increase
which should develop abroad, copper
producers expressed CONVICTION thaI
the leading foreign consumers OF
their wares eventually must regain
the ground lost in the past decade
and increase their usage OF red metal
proportionately with that accom-
plishcd among American mills.
Rending Compnny's Earnings.
Estimates of the years earnings
of the Reading Company are being
revised upward by market analysts
in view of results obtained from op-
erations this Fall. Operating ratio
of the Reading has consistently de-
creased since the first month OF the
wear. 1t was around 81 per cent IN
January. compared with 69 per cent
in September. 1t is believed in finan-
ciai circles that returns Will show
at least as low an operating ratio
for the remainder of the year. AS
an outcome, some estimates of net
as SO a share.