Evening star., 1924-07-24
MORE new RECORDS.
IN STOCK MARKET
Railroad Shares Features
Again Today-Weak Spots
Also Appear.
BY STU ART =. WEST.
perial Dspatcl 10 The star.

p''ldl blSlldttii ~
NEW YORK. July 24.-The stoch
market continued to present Il stron.
r.out today. many new high records
among both railway and nduStrla
.Iares having the effect of drawing
attention away from realizing II
uther directions. II was said. how
ever. that the broadening Of the up
ward movement and the adultiona
signs OF so-called public participa-
liou d SPELLED much of the talk of re
action. The absence of any lmpor'
tari check to the recent advance
in II succession of million share days
has converted an Increasing numbei
OF recple to the bull ranks.
Railway Group Active.
- on the pre,sding day 5h. the Nv, wv,
group Were Union Pacific among the
high iade ails and Erie in the
medium AMI low priced class. Theil
advance to the highest prices Of thu
,ear-iu lhe case OF Erie to the besi
s.nce 191.-was Impressive. tnior
""c:tics June report made an uneX-
rerted!y .ood showing. while Fri.
.tock> were believed to be discount
ing an important announcement re
2arGlnS control Numerous otheI
rtIiway shares were bid up to freSl
tops, and the market for The rails
Vas. in fact. d repetition Of wha'
h:S occurred every day for the 'aSi
trW weeks.
Sussl stocks came in for more at
;ention in response to more favorable
trade news. sugar futures We're NOR.
HctiN < at higher pIi-tS than they had
ban in some time. The likelihood Of
revival in the demand tor Cuban
raw>. with its effect upon raw sugar
quotations. was responsible for the
better feeling i'll the trade and in the
market for the sugar shares. Cuba
Cane pI efel ed, Punta Allegro and Gu
ban American common were particu
larly active.
Oil shares Go Higher.
The oil shares advanced in elderly
counts of conditions in the industry
The Pan-AmeriCan toSden, Phills
Peu Cieum. Marland and TranSconti-
Mental were pa ticularly in demand
There was d large turnover OF Trans
"ont./ ntal. to the acoornraniment ot
REPAIRS thai its new Colorado field
oIe ated jointly with the Texas Com
Fany. was producing high grade oil
in Nely satisfactory quantity.
During the greater part of the
session United States Steel common
Bethlehem Steel and the other mem
bers OF the group were simply mark
ing :ime They We're awaiting the
action of the Bethlehem directors
scheduled for late today.
lnterborough Rapid Transit fel
back sharply as the result of an eX-
preston of disa pproval over its re-
cent advance. voiced overnight il
official circles. Optimistic statements II
stock market comment concerning
the financial condition and earnings
of the Interborough were repudiated
\ speculative pool has been active IN
lnternorough. if is said.
Atlantic Gulf stocks React.
Both the common and preferred
stocks of the Atlantic, Gulf and Vest
Indies were adversely affected by the
court action Instituted by the re-
cciver of the Ward Line, charging
that the latter's financial. troubles
were due to the officers and directors
Of the. \. q. & W. |. The diversion n1
SIS .0G0. 600 from the Ward Line funds
Atlantic. Gulf and West indies stock
reflected the fear on the part or some
holders that the suit would end un-
was one of the complaints The break III
favorably to their interests.
The foreign exchanges moved un-
certainly, but at least it could be
said that they gave no sign OF con
Germ over the reported crisis IN Lon
don If the banking community here
and abroad really believe there is Sc
rious danger of d failure of the alHed
conference. such belief is not reflect
ed in the exchanges. 1t is. of course,
hard to distinguish between the two
forces now governing the exchange
market No one knows which is the
more powerful, the growing disparity
hrtueen money rates here ana III
London. or the political outlook.
Interest in the afternoon stock
market was shown chiefly in the
rails. In this quarter number OF
stocks rose to new high prices. Sew
eral railway traffic reports for June
,aIrc out. among them that of the
Southern Pacific This road an
nounccd loss of over 81 100000 in
not income for the month.