Evening star., 1925-02-13
OIL SHARES MAKE
MODERATE GAINS
Moves in Other Stocks Great.
ly Mixed-St. Paul Issues
Especially Weak.
BY STUART p. WEST.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, February 1S.-Asidt
from the fluctuations in few indi
vidual stocks of the type of u. S
Cast Iron Pipe, little progress il
either direction was made in thu
stock market today.
The oil shares were helped by the
overnight announcement of fresh ad
vances in crude oil quotations, bu
they made only moderate gains. The
steels were under further pressure
and the decline in ST. Paul preferred
TO its lowest of the year so far wa:
somewhat unsettling influence
Prof1t-taking sales made themselve:
felt in numerous specialties, while
pools in other issues of this clas:
were still active, bidding up theil
favorites.
St. Paul Issues Heavily Sold.
The weakness in the ST. Paul issues
which started in the bonds and ther
spread to the stocks. did not bring
out anything new even in the way O.
gossip. The experts who are going
over the St. Paul property to deter.
mined what it is actually worth, have
not yet made their report. Until they
do the banker who would naturally
handle any refunding, are not ex
pected to take action. Still the sell.
ing of the stocks was very persist
ent and it comprised a lot of gooC
sized lots.
The response to the further ad-
vance in crude oil quotations wa.
less than has followed similar an
nouncements during the last month
or so. General Petroleum was an ex-
ception, rushing forward over
points. Phillips Petroleum was VI
over a point at one time. Barnsdal
A. Houston and Pacific Oil were al
higher. Pool operations were agar
noted In Independent Oil and Gas
which has been a favorite ever since
the election of w. c. Durant to the
board of directors.
United States Pipe Stories Hearsay.
Most of the stories written about
United States Cast Iron Pipe are re-
garded as pure hearsay. Those who
have been bulliSh on the stock all
along admit that the rise to ESQ may
have been excessive for the time be-
ing at least, but they claim that with
earnings estimated at SIS share, the
stock will eventually be proved worth
that much, after a capital split up
Therefore, they discount heavily the
rumors about a private settlement of
shorts. Still these rumors were cur
rent again today when the stock
dropped to 205-that is, down 45 points
from its top
The continued advance in American
Sumatra fitted in with the informa-
tion already printed on more than
one occasion-that the financial af-
fairs of this company are In much
better shape.
Sugar Stocks Sold.
Realizing sales were felt again in
the sugar stocks, especially in Cuba
Cane preferred. No attention was
paid to new operations for the rise in
General Motors. Bethlehem Steel was
heavy again. The selling in General
Electric. which came with the news
that the company was likely to be in
vestigated. appeared to be over.
The assertion was made today that
Cast Iron Pipe advanced on it's own
merits and then reacted As points
very naturally after an S7-point rise
in the space of a few weeks. On
"Wednesday, when w. c. Durant was
supposed to have made a private set
tlement with short sellers, he is said
to have been on his way to Detroit,
attending to the affairs of his own
companies.
Where Stock Is Now Held.
There are 10000 shares of Cast
Iron Pipe common stock in existence,
and Mr.. Durant Is said to hold from
10000 to $4,000 shares at all times.
-Four Wall street houses hold an ad-
ditional 10000 shares. Hence, even
though the stock is always freely
loaned and therefore in supply, there
must, 1t was pointed out, be a sensa-
tional advance in it whenever fresh
buying enters the market, as 1t did
after the 1924 earnings of approx
mately $43 share were published.
CLOSE Is EGIIIAR