, 1925-02-02
NEWS AND Quotations BY LEASED WIRl
OIL SHARES IN
MART ADVANCE
Increases in Crude Prices
Produce Large Buying
Orders on Issues

NEW 1ORh. fep- z."COpstruC-
tive forces were at work In today's
stock market. centerins their buy.
ing power on the oil and railroad
shares. many OF -which reached their
highest prices in years. Riaing oil
prices and railroad merger reports
furnished the basis for enlarged pub
lie participation. Total sales approx.
mated l.5oo,o 900 shares.
Responding to further Increases IN
crude oil prices, oil shares continued
to work into net high ground at the
opening Of today's market. Large
buying orders were executed Tor
such issues as Marland, Pacific. Pan
American, Phillips and Union OF Cal,
ifornia. Frisco, Missouri Pacific
preferred. and Katy" led an ad-
vace In southwestern rails. Ship
ping stocks also were active. Gen.
eral EIecvtric. selling Ok tho dis
trtbution of. its electric bond and
share holdings. was quoted at c4iH.
Tho deduction Of about 81 points
In General Electric represented the
market value Of the new electric
bond shars. listed on the New York
curb market which are being dis.
tributed on n share for share basis.
Buying later became more diversi.
fled several popular s~peeialties Join.
ing in the early uprush OF prices In
the oil shares. The broadening de-
mand included dividend.paytng rails
such as Louisville and Nashville and
Jersey Central; Chemical stocks. In.
GLIDING the American Agricultural
issues. and industrial specialtise like
U. S. Cast Iron Pipe. U. s. Indus
trial Alcohol and Schultz. More than
a dozen petroleum issues achieved
their highest prices since 1923. fol
lowing another rise Of ESQ a barrel
IN the price Of Corning crude. Com,
mereial Solvents B fell back four
points. Foreign exchanges opened
steady.
Irreguiarity developed around the
end OF the first hour when the profit
taking started in a number OF the
oils and other popular industrials
Losses OF l to 2 points were record
ed by a wide variety of issues includ
Ing American Can. Radio Corpora
ton, DuF ont. u. s. Cast Iron Pipe
Famous Players, General Asphalt
New York Central and Wabash pre-
ferred A. Spirited bidding for Macl
Truck. which was boosted sever
points TO 1874. eventually steadie,
the list and many Of the earlier loss
es were partially retrieved. Inds
pendent strength was shown by ,
few chemical and merchandising ID
sues and by Gull States Steel. Frisc,
and Texas Pacific. The Katy
issues also were In good demand
with buying influenced by tho spec
ulativs belief that important merger
plans involving that road were pend
ing. Mack Trucks reacted foul
points from It's hiSs Just before noon
but the rest OF the list held rela
lively steady. Call money opened
at 81 per cent.
An active, inquiry arose for rail
road shares In the Afternoon. 4 scor,
OF them rising one to two points will
the grangers. coalers and southwest
ern issues the strongest. American
bank note rose ~, General Electric
sold at 2$7N compared with tn,
| opening figure 24lh. and sloss shef
field Steel Jumped bM, Mack Trucl
rebounded to 1875. and Sinclair pre-
fsrred. Associated Dry Goods ant
Philadelphia and Reading Coal ant
Iron were also conspicuously strong
The closing was strong. Msllinsor
broke 81; Commercial Solvents A
s and the B II points in the fina
hour without disturbing the upward
trend in the rest of the list.