Evening star., 1924-12-07
REACT|QNARY MOVE
!. |NSTOCK MARKET
First Real Check in Five
!, Weeks Crops Out During
Saturday Trading.
LOSSES ONLY FRACTIONAL
Decline Not General-24 Issues
Lifted to New Peak Prices
for Present Year.
Rr the Associated Press

ny lne NSsoCiateu
NEW YORK. December 6.-For th'
nrst time since the bull" movement
started, five weeks ago, the week In the
stock market closed today with
Teactionary tendencies predominating
Net losses in most OF the STANDARD
industrials and rails were held 10 frac
ttons. although a. number of specialize!
and ordinarily inactive shares showed
recessions Of | TO points.
g. The decline, however. was no.
general. bullish demonstrations being
staged in various sections of the lis
throughout the session. with the result
that 81 issues were lifted TO new peal
prices for the year. These included
eight rails, six public utilities and five
motors and rubbers.
Good Buying in Rails.
Good buying was noted in some o.
the Northwestern rails. Chicago ant
Northwestern issues standing out, eacf
moving up about ., points to new
top prices for the year. Ann Arbol
common and preferred, Chicago and
Alton common and preferred anC
Western Pacific also broke through
their previous maximum quotations
while I,ehigh Valley sold at its highes
price since the segregation of the Goa
properties.
All the pivotal industrials los
ground. United States Steel common
closed 4 lower at III: Baldwin reg
istered loss of u at l23a, anc
American Can was off "a at 149A after
having sold as high as 1905.
Public Utilities Strong.
Public utilities showed independent
strength Philadelphia Company lead.
ITNc stsaf L.
Nancing more than points TO 552
Subsequent profit taking forced it bach
10 54is. The oil shares also developed
rev strong spots. General ASphaH
and Pure on moving to new higl
ground, while the Pan American issues
Houston, Marland and several Others
showed moderate gains
Heavy buying of Nash Motors Just
before the close sent that stock soaring
points TO new high at 174
kresEe Jumps = Points.
S. s. Kresse jumped more than :
points on few odd-lot sales. Other
outstanding issues were Air Reduction
American Radiator. Barnet Leather
preferred. Certain-teed products, CO.
lumbia Carbon, Goodyear preferred, Iron
Products, Market Street Railway prior
preferred, Pullman and United States
Realty preferred all up points or
more.
Foreign exchanges moved slightly
higher In quiet trading Total sales
stock in the two-hour trading session
fell slightly below 100000 shares
Wall Street Briefs.
NEW YORK, December 6-Eugent
G. Grace. president of Bethlehem
Steel Corporation. has signed a con-
tract with the Argentine Republic tc
erect a complete oil refinery at La
Plata. Argentina, it was announce ID
today. The refinery will be com
qleted in about two years at a cost
OF $7r000,000. according to the esti-
mates, which specify daily capacity
for the plant of $4,000 barrels OF
crude oil.
A preliminary report of the
Southern Railways earnings for
November shows a decline of $902,4S5
to $l5,775,000, compared with Nov
ember last year. For the II months
the total of s17O,463,124 was a de-
crease of s11,205,277 under the same
period OF 1923.
Las-..- Earnings Reports
Earnings of the Douglas
Corporation in the first nine months
this year were S405,944, after interest
and depreciation but before Federal
tax, compared with s475,S36 in the
same period Of 1928. Profits for the
full year are expected to be about
$4,000 or about Sl.45 share on
tho common after estimated taxes.
In 1928 the company earned $1.71 a
share on the common.
November revenues of the Great
Northern increased s55,802 to s12,273,-
s24. In comparison with the same
n
1924 the total of $101 ,679,312 showed
a drop OF S9,9s5,20s under the corre-
spending period last year
Another big order for busses was
received today by the Yellow Coach
Manufacturing Company of Chicago,
when II was announced that the
Detroit United Railway Company
had ordered 100 single e-deck busses.
The Chicago concern yesterday re-
refved a record order from the Phila-
delphia Rapid Transit Company for
ESQ combination gas and electric
husses
Sugar Merger Gossip.
Reports that the American Sugar
refining Company contemplated dis
posing of its holdings in the Con-
finental Sugar Company brought a
statement today from Earl D. Babst
president, that while no offer had
been received, the company would
entertain proposal provided it was
substantial.
Stockholders of Pure Oil Company
pave Increased e,117 in the last year
70 1888. OF 1900 employees of the
kompany 4,543 are shareholders.
| Surplus after charges Of the Gulf
Toast Lines for the 10 months OF
1s24 was s2,615,421, compared with
kts93.773 a year ago.