Evening star., 1925-05-26
OIL SHARES LEAD
IN FINAL TRADING
Wide Variety of Stocks
Touch New High Levels
on Exchange.
BY STUART p. WEST.

BY STUART p. WEST.
Special Dispatch to The Star.
NEW YORK, May 26.-It was an
.other day of new high records on the
Stock Exchange, although the general
-price average was very little cha hFed.
The most interesting happenings ~.re
lin the stocks of the specially class.
sThe motors, department store shares,
"a few of the oils and number of in
.dustria!s, which were being brought
.into line with recent speculative IA
.VoriteS, were the features.
Hudson Scores New High.
There were no developments In con.
snection with the strength of the
motors. Hudson made a new high
sabove 81 on the usual talk of an in
screased dividend. The stock pays SO,
sand is earning over three times that
samount. Studebaker on large transac-
stions sold at it's high figures. Here. TOO,
sbig earnings are furnishing the incen-
stive for the buying. General Motors
appeared to be encounter ing a good
IDEAL of stock around 77h. vet managed
ito retain most of its Iecant advance.
sHupp was more active at higher prices
sand Pierce Arrow preferred 40 again.
; Among the stocks representing com
,panies which have an important inter
sest in automobile trade conditions
strength was displayed by United
States Rubber which, above 46, was up
over point; in Glidden Manufacture
ing, where there is talk of deal with
one of the big automobile manufac-
turerS, and in Eaton Axle.
Oil Advances Checked.
In the oils large buying orders from
apparently influential quarters were
thrown into Independent Oil and Gas,
carrying the stock above so again. In
other members of the group realizing
sales were for the most part sufficient
TO hold prices in check.
Allis Chalmers at 83 was a feature
and the advance was resumed in
Mack Trucks. Department Store
stocks were prominent. r. H. Macy
4 Co. sold at new high, so did Ma
tional Department Stores and Refs
preferred. Other stocks which reached
new tops included Paige Detroit, Mar.
land-Rockwell United States Indus
trial Alcohol common and preferred,
Maxwell Motors A certificates and B
certificates, North American pre-
ferred, Simmons Company, New York
Gamers, New York Dock preferred.
Consolidated Cigar. international
Paper preferred and Abitibi Power and
Paper the last named jumping 5
points.
AlIleu Snemlcat Strong.
Allied Chemical and Dye Corpor-
alton common approached It's pre-
vious high mark for 1925 on a large
turnover. The street has found an
incentive for continued buying in the
expectation of higher dividends. Earn
ings are running over $40 share on
the common as against the current
S4 dividends. The retirement of the
preferred also has been mentioned
as a possibility.
Independent Oil and Gas shot across
the so level again on active trading
in response to speculative adviceS
concerning its immediate market out
look. The street is reminded con-
stantly of the fact that w. c. Durant
became a member of the Board of Di-
rectors of Independent Oil and Gas
and the natural thing to believe, of
course is that Mr.. Durant or his fol-
lowing is responsible for much of the
buying.
Oils Active at Close.
Oil shares came more to the front
in the last hour, looking forward to
further increase in oil prices. In fact,
an advance of a half cent a gallon in
gasoline in the Tulsa district became
known privately in Wall Street dur
ing the day This was accompanied
by fresh advances of cent gallon
in retail prices. The Pan Americans,
Independent Oil and Gas, Texas Pa
cific Coal and Oil. Skelly, Pure Oil.
8 per cent, at a new high; Pacific Oil,
General Petroleum-these were the
leaders in the oil division.
The call money renewal was raised
to per cent, against 3A per cent on
the previous days. But this had no
effect either upon the speculative stock
list or upon investment bonds.