Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-02-03
GENERAL MARKET
HOLDS Up WELL
Various Shares Turn Heavy
in Afternoon-Nash Motor
. Off 7 Points.
by STUART II. WEST.

Special Dispatch to The star.
NEW YORK, February 3.-The
stock market was active and gen
orally strong today. Oil shares kept
to the front, but the gains, where
they occurred, were again small. The
oils shared interest with the railway
stocks, a number of which sold at
their highest for the season. The
number of specialties to attain promi-
hence was somewhat reduced, and the
price changes were narrower.
The leaders in the railway section
were Southern Railway, which sold
above sc for the first time, and St
Louis-San Francisco, which made a
new high, crossing sc. These stocks
were bought strictly on earnings
which in both instances are running
at the rate of over $40 a share. Specu-
1ative gossip has 1t that the dividends
will be increased. Southern Railway.
having been longer on the dividend
list, would logically be the first In
line to receive larger distribution.
skeIIy OH Mt New High.
Sicily OIL made a new high at 3oh
and an-American at 10. But as the
day went on profit taking increased
in volume, and most of the recent
favorites in the oil group came down.
There was an ample supply of stocks
like Pacific OIL. Sinclair. Phillips Pc
troleum and Marland within half a
point of their recent high figure. The
campaign in the oils was evidently
resting, waiting for some fresh in
SEPARATION from trade quarters.
Sugar stocks, which had been doing
nothing for a week more, were
actively bought for a time. but the
buying represented little more than
short covering. Cuba Cane preferred
and American Sugar were the leaders.
Punta Allegro barely dragged along.
The market for sugar futures within
the last day or two has become
trifie stronger, but the main reason
for the rally In the stocks was that
they have been pretty well sold out.
Shipping stocks Taken Up.
Shipping stocks were taken up more
because Il was their turn to move
than because of any development In
the ocean-carrying trade.
The phenomenal passenger traffic In
prospect for this year is always an
argument whenever these stocks
move, but 1t is old theme. So is
the talk about what European recon-
struction will do for ocean freight.
Marine preferred, as usual, was the
leader, but 1t drew along with IT
American International and Atlantic
Gulf and West Indies. Central Leath-
er stocks were strong, and so was
Endicott johnson. which got above 10.
Philadelphia and Reading Coal and
Iron was active for a time under a
buying wave which carried 1t across
81 The steel shares were irregular,
with Gulf States the feature. At the
coming meeting a stock dividend of
either 5 or 10 per cent is regarded as
reasonably probable. Brown Shoe
broke sharply on the declaration of
only the regular quarterly dividend
at the rate of 81. There had been
some expectation of a dividend in
crease.
OIL Stocks Strong mt Close.
The oil stocks did better in the
last hour, overcoming the effects of
the early profit-taking and in num-
erous instances forging ahead again.
This had a reassuring influence upon
the entire market which for a week
or more past had been taking its
cue from the oils. Nothing of conse-
quence occurred in the foreign eX-
changes, the money market was sta
tionary, and there were no signs of
any expansions in the investment
quarters of the security markets.
MARKET CLOSES UNEVEN.