Evening star., 1925-01-28
WALL STREET LIST
DOMINATED BY OILS
Commercial Solvents and
Nash Motors Also Advance.
Radio Shares Weak.
BY STUART y. WEST.
Special Dispatch to The star.

cpeclaI DlSpatch 10 Inc star.
NEW YORK, January 2S.-Today's s
stock market was dominated by the
activity and strength of the oil
shares. They we're the leaders, and
although the advances were not at
all sensational, the character of the
buying in this group gave unmis-
taxable proof that the much herald
ed turn in the oil industry had
materialized and that the important
interests behind the market for the
oil stocks viewed the situation op-
timiStically.
Aside from the oil shares. the stock
market, during the greater part OF the
time, was featureless. United States
Steel common responded moderately to
Tuesdays report of operations for the
last quarter OF 1924, which was better
than expected. Other favorites Of the
strpe of General Motors, which had lain
dormant or had slipped quietly away in
the recent trading, came to life again
and regained r portion of their loss
from the high points earlier In the
month. Profit taking sales made them
selves felt in some of the rails and in
dustrials, while funds shifted into the
oils.
Heavy Buying in Oils.
If there was any doubt remaining re-
Earding the attitude of the leaders in
the oil trade toward the outlook, it must
have been dispelled by the heavy buying
in Standard Oil of New Jersey, which
sold at the highest since trading began
in 1928 in the present s25 par stock.
The company has just announced that
employees may subscribe to it's common
stock at $50 a share, as compared with
the last previous Offering at SS3
share Ordinarily Wall Street looks to
Standard of New Jersey to take the lead
in any real buying movement of the
oil shares and in this instance precedent
was followed.
The advances throughout the oil
group amounted to /. and more points.
The most active included Pacific Oil,
which was up more than o points from
It's low of January Texas Co. above At,
Sinclair above %, the Pan-Americans
at new 1925 highs, Marland OIL across
45, Phillips Pete, in which there is SAID
10 be a good sized short interest; Skelly
Oil, Houston. Barnsdall A, Simms
Petroleum, Producers and Refiners' Cos
den and Pure Oil
Radio Corporation Drops.
Accommodating the break in the
radio shares on the curb exchange
Radio Corporation OF America fell
back to around it's low of the month.
The chief reason for the selling of
that they had more than discounted
any immediate Improvement in earn
ings. Radio Corporation was said
10 be contemplating the marketing
of a machine which would revolu-
rionize the radio business, but no con-
frmation was available. This was
regarded as bearish on the stocks
of some of the other companies.
The taking up of the sugars was
not easy to explain. American Sugar
Refining had a substantial advance.
and Cuba Cane preferred. Punta
Alegre and Cuban American common
led the stocks representing the Cuban
producing companies. The Street
was wondering if the Cuba Cane
directors would authorize the pay
ment of dividends on the preferred
stock.
The speciality moves were featured
by a sensational jump in CONNER
cial Solvents "A" also in Nash
Motors The American Agricultural
Chemical stocks ran up sharply.
Consolidated Cigar and General Cigar
were the leaders in the tobacco
group.
Kresge Department Stores turned
weak again following it's recent re-
bound. The recovery from around the
81 level was evidently due mostly to
short covering apd today's further
break was attributed to continued
unfavorable accounts of the COM
pany's business. DIT has been appar-
ent that the cost of establishing new
stores has prevented q satisfactory
earnings showing.
The annual report of the William
Wrigley. Jr., Co. has made favor
able impression. Net profits for 1924
amounted TO sS.539.3I3, a record for
earnings. Texas Co. continued to give
a good account of atself, selling well
across ~ to a new top, as compared
with 42%, the low for the year so
far.