Evening star., 1925-06-17
DAY SEES SHARP
STOCK ADVANCES
Over 20 New High Marks
Reached-LiveIy Gains in
Final Trading.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK, June 1.-THE Stocl
Market today drifted along in much
the same manner that it had fol
several days and the price tendenc,
for the most part was upward. There
were many specially moves and {
number of new high prices. Specu
lative interests busy with their ia
vorites We're having further success
Many New Highs Reached.
Over 20 stocks made new high rec
ords. Among these were Robert Refs
American and Foreign Power regu
lar and % per cent paid. which gained
points apiece; oklyn- Manhattan
Transit. which was one of the prin
cipal features in the entire market
New York Railways preferred, Du
pont, where the incentive was the
report of a stock dividend; American
Type Founders, all three classes OF
Pierce Arrow stocks, American Tele
phone and Telegraph, New York Can
ners. Newport News and Hampton
Railway, Gas and Electric: Atlantic
Gulf and West Indies: id-Continent
preferred and Independent Oil and
Gas. The great strength in the last
named was due to the highly favor
able earnings report.
Oil Stock Irregular.
The upward swing in the greater
New York City fractions was in
fiuenced again by the belief that tht
political situation was more favorable
to these companies.
OIL stocks did not move with any
uniformity. ATarland rose a point
and General Asphalt nearly points
Along with this went quite n
demonstration in Maracaibo Oil
Stocks like Texas Co. and Phillips
Petroleum. which had been favored
last week, continued to feel the effect
of profit taking. The rise in Colorado
Fuel was seemingly due more to. the
companys oil possibilities than to the
state of the steel business Skelly
OIL was unusually active at the
highest prices reached so far on the
present move. There was rumor
that big oil interests were negotiating
Tor the company.
Rate RumOrs Stir Rails.
In the railway section discussion
continued regarding the outlook for
increased rates in the Northwest, and
shares of these companieS-Chicag &c
and Northwestern, Great Northern
preferred and Northern Pacific-had
further advance. Southern Railway
was up more than Il point and 50
vas 'i' LoulS-NttIl TdHClScO. Merger
talk was responsible for the upturn
in Wabash
Famous Players appeared to have
adjusted itself to the first unfavora BILE
effect caused. by the announcement of
the new stock issue. 1t ran up over
3 points.
Other Market Changes.
United States Realty and Manhat.
tan Electric Supply were strong fea-
lures, as was Beechnut Packing.
American Water Works gained nearly
points. The advance was resumed
In Western Union on the possibility
of something happening at the meet
ing of directors today. Goodrich
gained more than points
Savage Arms broke nearly three
points and Jordan Motors the same
Tor what was regarded as purely mar
ket reasons.
Italian Exchange Weak.
The feature in the foreign exchange
was the continued decline in the
Italian lire, which reached a new low.
The interesting thing in this connec-
ton is that Italian paper currency
should have gone on depreciating de-
spite the recently granted American
credit and despite the unusually large
tourist expenditures incident to the
Holy year.