Evening star., 1925-08-10
STOCKS ARE QUIET,
; GENERALLY LOWER
High Records Offset by Sell
ina Moves That Disturb En-
tire Exchange List.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK. August 10.-The stock
market today was quieter and gener.
ally lower. There were a number of
high records. but these were more
than offset by selling moves that were
disturbing to the entire Stock EX'
change list. The most noticeable OF
these were among the oils and motor
shares.
The United States Steel Corpora
tion's report of untitled tonnage, which
came out at noon, showed that at the
end of July the total of unfinished
business on the books stood at 1888, :
+67 tons, as against S.710,45S on June
30. This reduction of approximately
III 900 tons was in line with eXpecta-
tions. United States Steel common
which had crossed 123 on Saturday
reacted to below l22 today, and the
other steel shares acted similarly.
Oil Weakness Not a Surprise.
The weakness in the oil shares was
no surprise 10 close observers OF the
oil trade position In view OF what is
happening now in the industry 1t is
question whether they have not had
more, than they have been entitled to.
Marland Oil had a sharp setback and
so did Texas Company. the Pan Ameri-
cans, Standard Oil of California and
other active petroleum issues. They
appeared to be under steady pressure
and of course invited considerable
short selling on the part of traders
maneuvering for general stock
market decline. The series of gaso.
line price cuts today accelerated the
decline.
With the oils the motor shares lost
considerable favor. Large blocks
changed hands at lower prices. Hud.
son Motor was an example, and other
weak spots in the motor group in
cluded Chandler Motor, Pierce-Arrow
preferred, General Motors and Jordan
Motor. The last named struck a new
1925 low. Mack Trucks also encoun-
tered selling.
Stocks Above Previous Tops.
The stocks which bettered their
previous tops took in Weston Elec-
trical Instrument. Brunswick Termi-
nal. Midland Steel Products preferred,
American Can. General Railway Sig
nal. General Baking, American Lin
seed common and preferred. Case
Threshing machine issues and Wabash
nails further remarkable advance was
inspired by a satisfactory report for
the first six months.
There were numerous soft spots
American Sugar Refining broke
nearly . points. American Smelling
lost some of its recent gain and the
Virginia Carolina Chemical stocks
were weak. while the company's bonds
were unusually strong. 1t was
rumored that the company's reor-
canization plan would be specially
favorable to the bondholders.
Closing Prices Best of Day.
The stock market closed at it's best
prices of the day, under leadership of
the railway shares, can stocks and
specialties that had been strong ear
lier in the session. The oils, which
had been under pressure throughout
the greater part of the time, were
slightly steadier toward the close.
The features In the railway group
we're st. Louis-San Francisco, Chesa-
peake and Ohio, at its highest price
on record; New York, Ontario and
Western and most of the Northwest
ern/ rails and Missouri. Kansas and
Texas. American Can in the, last few
minutes sold at its best figure, around
124.