Evening star., 1924-06-27
NEW HIGH PRICES
FOR YEAR COMMON
Public Utility Stocks Are
Wall Street Feature in
Final Trading.
BY STU ART =. VEST.

BY STU ART =. WEST.
Special Dispatch TO The stan.
NEW YORK Jane 2,.--New high
prices for the year We're quite COM
mon on the stock exchange today
with trading again setting hyel!
pace. This rise invited profit kin ;
on a large scale. and later in the da!
there was an irregular reaction
steel common momentarily sold
above par. but subsequently fell back
1t was not the leader ii had been
yesterday. Some buying came into
Sloss Sheffield on the heavy purchase :
"f pig iron, which haze been reported
FOR the last fortnight. this suggesting
:, turn in that part Of the iron and
steel market in which the company is
most interested.
Bc.hIe.,em - Feature.
But tn. outstanding feature in the
steel group was the persistent anu
h"aNy selling OF Betnleiem common,
V hiCh Nrnt Ou even when other parts
Of the list We're mos, huoyant. Beth
lchcm per cent preferred ut 30
seemed suspiciouSiy iuw in "a mar ct
" here preferred induSttialS haN" been
steadily advancing. Ii WAS recall ed
that the meeting al which the Beth
i"mhrn common dividend viii bc
voted upon was less than month on.
Among the rails, realizing sales
went on in former faNorites. while
fresh buying aud short covering ap-
pcared in others. Much was made
of the improved farm outlook as a
reason for strength In the noilh-
western rails. VITA Northern Pa
ciiir around 60. where it Was up II
points from the years low. and
chicago and Northwestern at A new
high above -. people y 40 have been
bcariSh on st laui shares took in
some of their commitments. Union
Pacific above l31 for the first time in
1874 was notable feature.
Lrhigh Valley Also Up.
The stock was being hought on the
ii:traCtiyrneSS of its Investment re
turn. The sane exDia. alton applied
t. Lehigh Valley which. selling above
-, was up another point Oh the day
and { points within the iast two days.
Al the current selling price the yield
Despite Repeated denial that any
other road was after the Chicago
Great Western. the buying of The
stocks was inspired 10y the belief
O anuter system. Realizing sales
acre telt in New Haven. ontario and
Western and the Eries.
Equipment shares Move.
Reports that the equipment buSi-
n"SS viii pick up after the railroa ds
hav" had chance to get better
iinr "n the crop and the outlook for
ial business generally were re-
>pouSihlc for the buying in the
"Iu;pu mt stocks. Pressed Steel Car
r'"s>"d 81. where il was up more
than points. and there was sharp
rln-up in Railway Steel Springs and
III American Locomotive.
II hal 20
several Interesting features among
the various group movements. One
vas the response OF the sugar shares
:" The turn for the better in Suga r
prices. 4 second was the backward
hess OF the oils. which Was assisnable
Ia tn.. figures given out at WaShing-
ton showing that May had been an
"th"r month OF heavy addition to un-
sold oil supplies. \ third was the
steadiuess in the railway list gem
orally. accompanied by numerous ad-
lauccS III face Of the outline OF the
Democratic PLATFORM calling for the
repeal of the so-called guarantee clause
in the TRANSFORMATION at.
Cuba Cane Preferred.
Cuba Cane preferred led the con
tirued advance in the sugar stocks.
On Wednesday it was pointed out
here that Cuban raws We're expected
to break away from the recently pre-
Nailing . y cent level and go higher.
lures were higher today. Cuba Cane
has ample cash and sold the bulk OF
its 1924 raw sugar at the high prices
which obtained early in the season.
The belief was expressed that the
effect of the postponement of negotia- :
tfons for the leasing Of the Norfolk
and Western by the PENNSYLVANIA was
bullish. for the light of publicity had
shone too brightly. to please the So
called insiders. In the fall. it is
), M. tar. he
again.
The feature in the last hour was
the strength in some Of the public
utility stocks. Brooklyn Union Gas
was bid up to d new high, and
Columbia Gas stood out conSpicuouSly.
The new WoolWorth stock continued
its remarkable advance and General
Electric made d new high above 22I.
In other parts of the list realizing
sales were sufficiently heavy to bring
about d reaction.
MARKET CLOSES UNEVEN.