Evening star., 1925-06-01
WALL STREET LIST
HEAVYAT FINISH
Higher Call Money One Cause
of Late Stock Selling for
Both Accounts.
BY STUART p. WEST.
,cfAl Dispasch to The Star.

bEEC1al Dl6p2tcn 10 IHo Ctdi-
NEW YORK, June both rails
and industrials were again In de-
mand on the Stock Exchange today,
while a score or more new high rec
ords for the year were made, includ-
ing a number of stocks of the spe-
cialty class The movement in the
public utilities was extended, al
though profittaking sales In this
quarter were noticeable.
Wall Street interpreted the latest
developments in the Greater New
York traction field as being unfavor-
able to the scent fare cause. Inter-
borough Rapid Transit went up near
Iy 8 points. Brooklyn Manhattan
Transit common made a new high, up
over 2 points, and Third Avenue
gained over a point.
Many New High Marks.
New high levels were reached in
MANY directions The Reading issues,
first and second preferred and COM
mon; Woolworth, American Tobacco
B, California Packing, international
Paper, Hoffman Machinery, Phila-
delphia Co. per cent preferred,
Kelly Springfield s per cent, Paige
Detroit International Shoe, Brown
Shoe. Virginia Power, Great Western
Telephone and Telegraph were among
those which overtopped their former
highs for 1926 Great Western Sugar
was bought on the attractiveness OF
its yield as an per cent stock selling
lust above par. international Iele-
phone and Telegraph above III was
up over points on the day and over
25 points from where 1t was selling
week ago. The probabilities were
in
represented the runin of venture
some short interest.
Steel Stocks Heavy.
Steel stocks were distinctly heavy,
and so were most of the equipments.
Motor shares sold off under the leao
OF Willys-Oakland issues, which nnally
became quite weak. The reduction In
prices of certain cars by the WHY'S
Overland and of the Essex, announced
this morning, probably had something
TO do with the selling. Heavy proht
taking came into American Smelling
and the rise in the copperS was
checked.
Selling was resumed in Information
al Mercantile Marine issues and In
American Woolens-two points OF
weakness which have been cropping
out periodically for some time past
national Mercantile Marine were not
general, as provided by a sharp rise of
between > and 3 points in Atlantic,
Gulf and West Indies.
Shares of rubber and tire companies
were responding to the recent increase
in tire prices. Goodrich rose l II
points. United States Rubber was up
more than point.
B. & o. Actively Bought.
Among the rails Reading got above
80, and Baltimore and OHIO for a
time was actively bought above 80.
Missouri Pacific preferred rose more
than a point.
General Electric had an early Jump
of points, but subsequently did not
do much. The erratic Maxwell Mo
tors Il certificates were bid up 5
points, but they, too, were less active
in the later trading. United States
Distributing preferred changed hanus
10 points above its previous price
level, and the common rose more than
2 points.
Southern Railway Bought.
The Street was talking about q
decision to be handed down this week
on the Southern Railway preferred
stockholders suit. Principal holders
of the common were reported as con-
fident that the decision would be
favorable to their interests, and the
common was selling at So or better
much of the time. The suit involves
a claim of S29 100000 on account OF
alleged preferred dividend arrears.
Two things influenced the buying in
Montgomery Ward. One was the
opinion that in comparison with other
mail order shares it had been selling
too low, and the other was the very
good earnings situation revealed in
series of favorable monthly state
ments. 1t was expected that the May
report would disclose an increase of
over per cent in sales. Sears Roe
buck also worked higher, and the
other members of the chain and de-
partment store group were selling
around their best prices.
MARKET CLOSES HEAVY.