Evening star., 1924-09-30
STOCKS GO HIGHER
ss-rr--
IN FINAL TRADING
s.
Furry Caused by Higher
3 Money Rates Cause of
s Early IrreguIarity.
ny STUART =. WEST.


Sp~ciaI Dispatch to The Star.
NEW YORK. September 3o.-Tht
stock market quickly got over to-
day whatever unfavorable influence
may have been exerted in Monday
rise from = to > per cent in the
call money rate. The renewal or
standing loans was put up To ~
per cent but there was no idea tba'
this meant anyth ny more than the
temporary additional need for funds
over the October | corporation pay
mcntS
At the opening there was more OF
less irregularity. hut before the enc
Of the first hour prices had steadied
and operations for the rise was grad
ually resumed in one after another
particular stock.
American Can steady.
American Can was selling around
1eS. when word came that only the
regular dividend had been declared
The fact that the stock did not &c
dow n. but instead went up, indie TED
:he presence of considerable short
interest which was ready t" cover a
soon AS it was found that the dividend
news was bringing out no tiqu!da t'on
ON no dav so far was the testimony
to the strength Of the market pol
tion of American {. 80 convincing
Colorado and Southern and the ~
Louis san FranciScuS Wee the strong
features among the rails. lnaSmdtr
as Colorado and southern eHrhlhSS
are running at the r. te of Slo Il snare
reports of Il 81 dividend to be De
clared for the wear seem reasona bic
Directors OF the 81. Louis-San ram
cisco meet Wednesday to discuss a
preferred d vdend. The way the
stock shot up TODAY might have been
taken to point to a b per cent declare
ton, But there was still Considera Ole
difference Il opinion as to Whtthei
the preferred would be put on the
dividend list at this time.
Other Rail shares strong.
- Lou-s and Southwestern COM
mon. also q div idend prospect, Was
in demand. Gulf. Mo3ile and NJ rtp
en- preferred ~ - as selling %i'a
new high Lehi2h Valley crossed 6l
on \ remvNsI, o. estimates ,ha, ,-o
high stockholders wi receive be
tween Sl2 ard $l5 a share irphi the
distribution of the to.,e Brothers
Company assets
United Drug was bid up to a ne"
high on reports of an impending IN
crease in the dividend. which iS no"
So The advance in Thinker Roller
Bearing above 81 appeared TO he tht
work of speculative sHndita't
using as d slogan that the extra dlrl-
dend. bringing the annual distrihu
ton up to 81. was To he considered
as if it were regular.
North American Crosses b.
Public utilities were again in de-
mand. North American finally got
across % American Water Works
had one Of its customary run-ups
American and foreign power shares
were very strong. Consolidated Gas
Of Baltimore made a new high IN
anticipation that dividends on the
new stock would take into account
that earnings on the old are run
ming between S25 and $50 ii share.
Large blocks Of Sinclair Consoli-
dated changed hands today below tn,
l6 level and within a fraction OF the
lowest for 1924 This selling was di-
rectly due to the succession OF price
cuts in Mid Continent Crude Oil.
The selling in Anaconda Copper i:
not difficult To explain. The Saggine
of the copper metal market following
the little furry which greeted the
adoption Of the Dawes plan has been
disappointment. Metal prices are
around the l3-cent level and the de-
nand iS light.
Hudson Motor Inder Pressure.
Hudson Motor was rather freely Of
fered. In the third quarter Hudson
earned Sl-I5 d share against S2.44 in
the third quarter of 1923, and net i'll
come from January to Septembe er
cTUalcd s4.1S IA share against $6.15.
HudSons s. dividend is being cover
esi. with something to spare, but the
prospects for Il higher rate are slight.