Evening star., 1925-03-09
SELLING IS HEAVY
IN STOCK MARKET
Higher Call Money Rate Puts
! Curb on Heavy Trading
in Wall Street.
sY STUART r. WEST.

&rectaI Dispatch TO The Star.
NEW YORK, March 9.-The profes
Htonal judgment on today's marke
was that 1t was full of stocks from
start to finish. Prices fell away reao
fly, and, with few exceptions, no at
support Active industrials OF tn
type Of Baldwin Locomotive ant
American Can were freely supplied
and the whole list reflected heav.
proht-taking.
The oil stocks were Influenced b,
the fact that reports of another in
crease in crude oil prices were no
borne out in the over Sunday news
Phillips Petroleum sold off over
point and Houston nearly two points
California Petroleum after declining
more than a point encountered fresf
buying, and the market for lndepend
ent Oil and Gas, under the Duran'
prestige, appeared to be still falrlS
we'll in hand. The 1924 report OF the
Texas Co, showing over 81 a share
earned under difficult conditions, made
q favorable impression.
Steel shares Draggy.
Reading of the latest advices from
the steel manufacturing centers was
not calculated to encourage bulllsh
sen timent on the steel shares. Beth
lehem Steel made new low for the
year as it broke As. Crucible was
OF over a point Expectations OF in
crease in untitled orders of the
United States Steel Corporation In
Tuesdays monthly statement did not
prevent bids for the stock being fully
supplied, most of the time at some
what lower prices.
AS the result of the reopening Of
the tax question and the charge made
by repre- of the Couzens
Investigating committee, Atlantic
Gulf and West Indies had another
bad break. Bunched sales appeared
at the opening at 81, against 35%,
the Saturday close, the low price
meaning loss of 10 points from last
weeks top.
Much Selling I'm Rails.
Realizing sales were heavy in most
of the rails. Baltimore and Ohio
6round 81, was off three points from
last weeks high, and Atchison was
off six points from it's top. Kansas
City Southern dropped Ia, and Rock
Island was down four points from
recent high figures. Texas and Pa
cifc, around So, had lost six points
from it's best. The ease with which
Northwestern rails went down eStab-
1iShed the point that their recent up
Extreme weakness in Miami Copper
was regarded as making it almost
certain that the dividend was gone
Savage Arms came down below par.
WooIen Is Sensitive.
American Woolen was sentitive to
reports that the wooden industry had
not sustained tho Improvement that
was talked about a few weeks ago
Hudson Motor made a good showing,
but the feature of the motor group
was the Maxwell issues, which were
bid up again on favorable reports OF
earnin gs. American Safety Razor, on
top OF last weeks advance of points
was bid up another points.
Some attention has been attracted
recently to the capital stock of the
Homestake Mining Company, which
has been quoted around As. There
are 25l,16O shares outstanding, with
no prekerred stock or bonds. Home
stake is a producer of gold, with
mines located at Lead, S. D. Regular
dividends at the rate of Sc a year,
as well as an extra 81, are being paid
From 1913 to 1916, inclusive $3.50
per share was paid each year. The
lowest the stock sold in those four
years was 100, whereas today IT
was quoted well below SO and paws
~. AT the present rate of opera
tons the ore reserves would indi-
cate life to the mine of about
10 years.
MARKET CLOSES HEAUv