Evening star., 1924-09-08
MOVES CONFUSED
..0N STOCK MARKET
Many Specially Shares Sell
4 LoWer-Maine Election
Factor in Trading.
ny STUART y. WEST.

Special Dispatch to The star
NEW YORK. September S.-F'urther
selling came into the stock marke'
today. There was nothing in tne
over Sunday news to exert an III
fuence, although Wa street had
good deal to say about the VOTING III
Maine today and the effect 'niS
might have upon sentiment
The principal weakness lay III
specialties OF the type of Cocoa-Cola
National Enameling and some OF tne
motors Cocoa Cola sold ex the
auartcrly dividend of Ia per cent
but. notwithStan'in that II VIII pe
another two months before the oiFi-
dend question comes up again an"
notwithstanding the improvement III
second -Quarter earnings 'he S'o@
broke rather badly
Coca Cola belongs to the class Oh
stocks having high dividends in COM
rarison with earnings. This class mas
come into diSfaNor since the American
Woolen action.
MAXWELL Pool Quiet.
Reassuriny statements regarding
American Financing failed I" preHen,
another drop The newly formed poo
in Maxwell Motors did not make any
particular effort to support the St"'k
and the little operation which mas
been going on in Jordan M"t"'S az
peared To have been ahahuHh"u' u
is expected that the uiNiu'hu g"
Daniel Boone Wuolcn Mills Will I've
omitted at the meeting TUESDAY Inc
company, it is understood. however
- in good financial shape. short
covering made itself felt in American
Wooden. but reports continued very
discouraging.
OIL shares Bit StronSer.
OH shares were steady. y moo
crate bulliSh feeling exists IHWA'0
thes, stocks, partly because "t tht
expectation that production OF ca
will shortly fall of in tw" or thTS'
important pools. and partly because
there was little speculation III I'm:
Quarter during the summer. Men
lean Scaboard was conSptSu"uS4H
strong. Marland was evidently be
ing taken jus, under SO. and Phil
lIpS Pete AZ the same figure.
The inprv vSSion was that Sp"cu-
lators who had pulled off the bear
coup week ago in tolorao" Fue'
were taking advantage of the un-
settlement in the general market to
cover.
Chandler Dividend Gossip.
Chandler Motor directors viii meet
Tuesday IN Cleveland lot uiNiu'HNS'
According 70 the best information
available today they will authorize
the payment of at least something.
but whether 1t will be at the rate
of 81 or SO annually instead OF the
present Sc is not generally known.
Earnings in the fist half OF 1874
were admittedly sufficient 70 cover
dividends but Chandler officials are
credited with the view that that was
a poor showing. Others take eXcep-
ton to this, considering the marked
showdown in the automobile industry.
Spectators for the decline, search
ing for weak spots, apparently found
one in Coca Cola. The usual pesslmls-
tic talk about the continuance of the
current per cent annual dividend
accompanied the break. In 1928 Coca
Cola's net earnings of s1.65 snare
on the common were insufficient to
cover dividend requirments. In the
first half of 1924 earnings eQualled
S562 share on the common as
against $6.03 in the first six months
of 1928. In the second quarter the
net amounted to s4.13 share against
$3.50 a year ago.
Chandler Motors made another new
low record, anticipating unfavorbale
action on the dividend at Tuesdays
meeting The best opinion, however,
was that something would be de-
clared.