Evening star., 1924-12-08
SALES AND PRICES
TURN DOWNWARD
Recent Stock Activity Lack.
ing as Many Traders Take
Their Profits.
by STUART p. WEST.

Special Dispatch TO The star
NEW YORK. December 8.-Activity
diminished and prices were lower on
the Stock Exchange today. C"mnared
with the standard, the market af-
forded little of interest
Profit-taking was heavy enough to
cancel the recent gains among many
industrial specialties and speculative
railway issues as well. while leading
stocks in both groups SOLD well be-
low the final nrices Of last week.
This was true of such stocks as
United states Steel com'noa, Anteti-
can can. Studebaker and Baldwin
Locomotive
1t was evident that the raactionary
tendencies of the past few H." din =
days had impressed the ma jorjty o
traders in one DEGREE or another. an l
that they were selling long stock to
realize the profits which had accum-
ulated in the past week or nor. At
the same time the pro eSSion2l els-
ment more active on The snort side.
I. =. steel ut Siand>tiI.
The fact that United : "tes S'eel
had failed to gain ground all last
week. and that other rtpr Ssnt,t i've
shares like Baldwin locoGio: il" h''''
made similar record. b"Ghn i' BE-
more seriously considered. l.eade~ -
ship had shifted into s,orkS - t.
specially class. and This certainly Glu
rot appeal to the co'ScrNati' = ell
ment American Tel, phone md Iele-
hraph made a new high at - At
trrnational Harvester Tor :. ti!-ie WIS
bought on the strength of n" earn"
outlook, and there WAS Il -h~rp ruEE3
in Westinghouse Air Brake.
WestinghouSe Electric mad" new
high at 20 and til, Fisk EUbbers
We're bought ON discussion of the
likelihood of dividends being re
sumed on the preferred.
American Woolen was definitely
weak. The recent run-up 10 &rounu
c. was chi, ny the driving in of a
short interest.
Rail shares Freely Sold.
The rails were freely sold. Chicago
and Northwestern was the exception.
reaching new high figures. s.. Lou
San Francisco felt the fleet of profit
taking and so did Wheeling and LAX,
Erie preferred. s.. Louis Southwes, =
ern came off quite sharply. The aG-
vance in Missouri. Kansas and Texas
and in Kansas City southern hau
manifetsly been che ckcd.
Most of the motor shares joined in
the reaction. There was heavy SELL
i-g of Studebaker. down a point or
points from it's recent top. and 50
VS. Hud on. Nash Motors was the
conspicuous exception, having 2
spectacular jump.
Aliix Chalmers Gossip.
1t is generally felt in the Street
that the directors of the Allis Chal-
mers Company We're not to increase
the dividend on the common stock
above the present 81 stock at the
January meeting. There has been
talk that. with earnings at least IS n
share, there was "A strong possibility
of the disbursement to shareholder
being increa sed.
The December forward business is
reported exceptionally good, and
interests in close touch with the
company anticipate favorable profits
during 1925.
y better market has been no,ed il
tertainteed Products Corporation
common stock recently. the COM
pany reported net profits for the
first nine months of s9s0.1+6. The
current rate of income eq as about
S12 A share on the common, and Tor
the full . months bout s. a share is
expected to be reported.