Evening star., 1925-01-22
us. STEEL COMMON
. IN SHARP RUN-UP
Sudden Advance Gives
Strength to Other Stocks
All Through List.
by STUART Y. WEST.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, January 22.-With the
inside position distinctly impI owed as
the result of the reaction of the pa st
three weeks, the stock market today
reflected the better feeling with
which the more conservative element
were viewing the situation.
Accordingly, under the lead OF
United States Steel common. which
pushed into new high ground. the
whole market responded to increasing
bullish sentiment and prices were gen
orally higher. Heavy buying of Steel
common was accompanied by sharp up
bidding of numerous other favorites and
people who had lightened their loads
under the pressure of the recent to
; point decline, came into the market
on the buying side with renewed con-
fidence. Short covering continued
factor.
Steel Helps Whole List.
Steel common, selling at the highest
since 1915, was an inspiring sight for
the entire list. The independent
steels were at first reluctant to go
along, but they finally joined in-Re-
public. Bethlehem. Colorado Fuel, In
land, Ludlum and the others. The
future of these companies depends
more upon steel prices than upon the
activity at the mills. Their profit
margin has long been pretty narrow.
Railway equipment shares were
very strong, with American Car and
Foundry well above the 200 level
again, with a brisk advance in Rail-
way Steel Springs, and in Pullman.
and with active short covering in
the locomotive stocks. There was
nothing new in this connection. The
action of these stocks simply went to
show that the public had not gone
into them the way it had into most
other things and consequently that
shere had been no extended specula-
live account created.
OIL shares Advance.
! with the Marland Company and a
number of others advancing crude
soil anywhere from 10 to % cents a
barrel, the principal Standard Oil
factor in the midcontinent field was
credited with following suit, even al
though this was not formally an
nounced. Accordingly, there was a
rush to buy the oil shares. The
Operations in Marland above ~ fitted
1n with all that has been said about
the powerful pool at work IN this
stock. Phillips Petroleum crossed
Al for the first time this year. and
there was heavy trading in Pacific on
around 81, which was practically It's
top for 1925. Cosden, Texas Company,
Shell Union and Sinclair were all ac-
lively dealt in at advancing prices.
Motor Stocks Erratic.
Chandler Motors had another sink
Ang spell, but subsequently rallied.
The dividend meeting occurs early In
March. Studebaker went below 43
during the selling in Chandler, but
later recovered. Buying kept on In
General Motors. forcing the stock to
q new high, above "A. Dupont went
along with General Motors.
Operations in specialties became ac-
tive again. Dawson Chemical was
bought on knowledge of the success
attending the development of new
lines of business. The Commercial
Solvents stocks, which were quoted
around III as late as Monday morn
dng, sold close to $50. Radio Cor
poration crossed 20 again, and there
were sharp run-ups in Texas Gulf Sui
phur, Electric Storage Battery and
General Electric.
Another remarkable advance oc-
Cured in Commercial Solvents stocks,
carrying them to new high prices.
The company is expanding its opera
tions and the indications are that
the earnings of the combined A and
Z shares during 1925 will approx
mate $50 a share.