Evening star., 1925-11-12
VIOLENT ADVANCES
IN STOCK MARKET
General Motors Dividend
Talk Is Factor-Bears
Forced to Cover.
BY STUART p. WEST.
, Dispotrh In The Star

NEW YORK November l2.-To-
days fluctuations in the stock market
We're quite as sensational on the buy
ing side as were Tuesdays fluctua-
tions ON the selling side. Apparently
il was felt that this afternoons de-
NeiupmentS at the General Motors
meeting had not been sufficiently dis
counted. Under an accumulation of
overnight buying orders. some of
which came from shorts. the stock
opened nearly points up. This was
Immediately reflected in du Pont,
which. on account of its large hold
ings OF General Motors, was bid up
over "a points.
Buying Rush in Motors.
These astonishing gains caused a
rush to buy other motor shares.
ChrySIer shot UP II points within
the first few minutes of trading, Mack
Trucks 4. Hudson over I and Fisher
Body 5. Packard made a new high
after jumping more than , points.
These extreme advances naturally in
Nited heavy protit-taking and the motor
group in the later trading receded.
There was sharp uprush III United
States Rubber, which carried that
stock to a new high. American Sugar
had evidently not fully measured the
mon had a further advance, while
the preferred. on the id "a that it was
out of line with other industrial pre-
ferred issues in a strong position,
rose above par.
New Tops i'm Rail List.
In the railway list new tops of the
year We're reached in B. & o.. Le
high Valley. Northern Pacific and
Nickel Plate preferred Reading was
very strong and so was New York
Central. Atlantic Coast Line and
Jersey Central We're both quoted
substantially higher. Among the
lower priced issues the Wheeling and
Lake ErieS We're favored and so was
Western Pacific.
When the move in the oil stocks
started a fortnight ago the original
leader was Marland. In the second
stage of the movement attention was
turned mora to Pacific Oil. Today
the leadership was assumed by Phil
lips Petroleum, with Skelly a close
second. Mid Continent made a new
high for the year and Independent
Oil and Gas crossed 81 again. Pure
Oil was noticeably strong.
Steele Common Erratic.
Steel common at one time was up
over 3l2 points on a rush of short
covering, but later came down some
what. Youngstown Sheet and Tube
was influenced by Youngstown re-
ports repeating the old story of a
steel combination with the YoungS-
town concern as the center.
There were new highs in American
INTERNATIONAL in Schultz, Devoe and
Reynolds, United States Distributing,
American Brake Shoe. Brunswick
Terminal and Atlas Powder. Moving
with the accustomed rapidity. high
priced industrials like General Elec-
tric Cast Iron Pipe. Commercial Sol
vents b" United Drug and the eX-
press stocks had more or less spec
tacular advances.
New Stock Put on Board.
Trading began today in the newly
listed Oil Well Supply quoted on the
ticker as ONY. 1t is estimated that
the common stock, which was selling
In the 30s, has assets of S34 a share.
Dividends at the annual rate of $3.50
are expected soon. Oil Well Supply
is a large dealer in accessories for
the oil trade and is an old established
company.
The likelihood of an increase in
the Baltimore and Ohio dividend to 81
annually continued today to play a
part in the market for the stock,
which has been a feature of the mar
ket. Moreover, Wall Street was look
ing for some sort of special disburse-
ment such as the distribution of B. &
.. holdings of Philadelphia and Read
ing Coal and Iron rights. Talk of the
same kind accompanied the buying in
Lehigh Valley, which, it was thought,
might distribute some of its valuable
coal assets.