Evening star., 1925-08-12
BUYING IN RAILS
B0LSTERS MARKET
Issues in Demand at Higher
PriCes-0iI Shares De-
CidedIy Weaker.
BY STUART p. WEST.
Special Dispatch to The star.

Special Dispatch to The star.
NEW YORK, August 12-Notwith-
standing the sensational advances in
several of the high-priced shares on
the Stock Exchange today. the indus
trial list worked lower and the mar.
ket undoubtedly escaped "A severe
downward reaction only because of
the buying in the rails. Many of these
were in demand at considerably higher
prices. The selling in the oils was
again a disturbing influence and spread
to other recent favorites.
Wabash Stocks Active.
The Wabash stocks were the most
prominent in the railway division.
They were being bought on theory
that. even if the road is not to go into
the sosCalled proposed Loree system,
control will pass to another railroad
eventually. Chesapeake and Ohio
hettered its previous top, and so did
Bangor and AroOstooll. Rock island,
Southern Pacific. Ann Arhor preferred,
Chicago Northwestern and a number
of the other railroad shares went
along. New York Central kept active
and strong.
The pyroteChnicS in General Rail
way Signal went on, the stock rising
approximately 50 points then drop
ping as violently as ii had gone up.
General Electric made new high.
\ short interest is believed to have
been responsible for a good part of
the recent rise in these hiSh-priCed
stocks,
Oil Shares Distinctly Weak.
The oil shares were distinctly weak.
Several of them dropped below their
previous lows of the year. Among
these were Texas Pacific Coal and
Oil, the Pan-AmeriCans, which were
particularly heavy; Standard Oil of
California. Barnsdall \ and Mara
caibo Atlantic Refining, which had
closed Tuesday at 1913, sank below
par. getting down several points be-
fore the day ended.
Failure TO do anything about the
dividend. together with the unsatisfac-
tory trade position, was directly re
sponsible for Atlantic Refininss weak
ness. Marland, Phillips Petroleum
and the whole oil share list slipped
off easily on a large volume of buSi-
ness.
Advances occurred in Westinghouse
Airbrake, which rose several points, in
Weston Electrical Instruments, in
South Porto Rico Sugar preferred. in
Onyx Hosiery, in Austin Nichols pre-
ferred, in Jordan Motor, which re-
hected the activity in shorts; in Mon
tana Power and in Martin Parry. on
the other hand, Interborough Rapid
Transit fel about points for no clear
cut reason. Radio Corporation was re
dictionary and Montgomery Ward lost
some of its recent rise.
Sharp Rally i'll Afternoon.
There was a sharp rally on the stock
exchange midway through the after
noon, led by the high-priced indus
trials and some of the railway shares.
American Can ran up briskly to
new high, and General Electric eX-
ceeded its old top without allowing
for the Electric Bond and Share rights,
General Railway Signals wild swings
General Railway Signals wild swings
totaled about 10 points. White Motors
was a big feature in the afternoon.
rising points, from where it was sell
ing at its low of the previous day.
Packard and the other motor shares
were sympathetiCally stronger. Sub
marine Boat touched new 1925 low.
Other stocks which went down inClud-
cd WorthinGton Pump, American
Safety Razor. Associated Dry Goods
and Industrial Alcohol.