Evening star., 1925-03-06
H|GH-PR|CED ISSUES
CONTINUE ADVANCE
Equipments Active Heavy
Buying in 0iIs-Many Gains
by SpeCiaIties.
BY STUART p. WEST.

BY STUART p. WEST.
Special Dispatch to The Star.
NEW YORK, March 6.--StrenGth OF
the stock Exchange was confined again
today chiefly to the industrial section
where a number of high priced issues
continued their flight to top Hsu eS
and operations for the rise In specIal p,
ties were carried on confidently. me
rails as a rule did little. Stocks Oh l"he "
type of General Electric, Lacleue Hae
Baldwin Locomotive and Natioha
few of the oils went forward 10 lheil
hest prices. although the movement
was not general
Equipment stocks were again prom
fnent American Locomotive tlaue q
new high, but the leadership was
later assumed by BALDWIN anu oS
Railway Steel Spring. Pullman lah
up over two points. After us
tacular rise of the previous DAY Tue.
was naturally some pront-tahlie :"
American Car and Foundry. amer
lean Steel Foundries again gave evil
dence of having discounted the 20
per cent stock dividend.
General Electric Bid Up.
Electric manufacturing shares were
very busy under the lead OF Gehera al
Electric, which was bid up with con-
siderable violence. General Elec-
1ric allowing for the deduction of
Electric Bond and Share. sold at
new high as it reached $50. Westlng-
house Electric crossed "a ana AlllS
Chalmers had a sharp run-up'
AS illustrating the highly specula-
tive character of the market the mere
announcement that former Secretary
Hughes had been engaged as leea,
adviser to the receiver OF the ware
Line in the suit against the Atlantic
Gulf and West Indies was sulneleht
to nut the Atlantic Gulf stocks down
over points in the preferred and over
; points in the common. The oonos
of the company were similarly weak.
The suit involves a claim OF around
S1S.OOO,OOo
Heavy Buying I'm Oils.
The two features among the oils
were California Petroleum and lnde-
pendent OIL and Gas. The heavy ouy-
ing of the California Petroleum issues
was accompanied by renewal OF re-
ports that new banking powers were
taking an interest in the company
With independent Oil and Gas 1t was
still a case of conjecture IS to the
Durant influence.
American Can made ne" hlSn
ss II reached 1856, this on the usual
talk of a capital split-up similar to
that which occurred in the case OF
Corn Products. The assurance that
the huge increase in American Iele-
nhone and Telegraph capital will IN
voIve no issue of new securities TINS
year had a good effect upon the STOCK
which sold at 135. Western Union
was very strong, but for reasons OF
its own. A dividend increase here
ell
basis of current earnings.
Among the specialties there was
brisk upbidding at times in Maxwell
Motors B, in Laclede Gas, in May
Department Stores, in National Lead,
Texas Gulf Sulphur. in United Drug
and in Remington Typewriter
Rubber and tire shares were strong
gain under the lead OF Goodrlch ano
the Goodyear stocks.
New high prices for Independent Oil
and Gas accompanied favorable reports
of the company's current earnings In
February earnings before depreciation,
depletion and other write-off were $780,
600, the equivalent of 81 per share, or al
the annual rate of S12.
.s9AOIdmI sLsmIuq0 sIIIv
The sharp advance in Allis Chalmers
was commented upon favorably in specu-
lative quarters. The feeling was that
with a strong cash position, and with net
income on the common approximating
SO a share or better, Allis Chalmers
would be warranted in distributing more
to shareholders.
There was talk of possible merger
between Beechnut Packing and Pos
tum Cereal. Some people believe that
actual conferences will be resume ed
again shortly in this connection. The
opinion was expressed that, in view
of the recent advance in Postum
shares, negotiations toward a combi-
nation of the two companies were
postponed.
American Safety Razor went ahead
again briskly, completing a rise of
several points in two days. This per-
formance was attended by accounts
of the company's improved business.
1t was said that incoming orders are
necessitating full operation of plants.
Recent sales have been at a new high
rate.
NAPKET CLOSES STEAnv