Evening star., 1925-01-26
MOVES ARE MIXED
IN STOCK MARKET
American WOODEN Unsettles
LiSt-Heavy Buying in
Oil Group.
BY STUART p. WEST.

special Dispatch to Inc star.
NEW YORK, January 2s.-The
stock market today was extremely
mixed. with interest centered in spe-
cial moves among industrtals. The
weakness in American Wooden pre-
ferred and common stocks was an un-
settling influence and accentuated the
general uncertainty of the price move
ment
Buying on moderate scale went
on in a number of the oil shares, Whlle
proflt-taking reduced the recent gains
in many other directions. The market
appeared to be waiting for leadership
20 carry II one way or the other, and
had in mind the prospective action OF
the United States Steel directors at
Tuesdays quarterly meeting.
Low Priced Rails Favored.
Buying of the low priced rails was
again based in part upon the faVor-
able traffic statements coming OUT
for December, but more largely upon
conjectures as TO what these shares
would be worth under consultations.
Missouri, Kansas and Texas common
was pushed across on large trans
actions It was up nearly points
from the low of a. week ago, while
the preferred at 50 was up points
within the same time. Kansas City
southern crossed SO, and st. Louis
San Francisco was taken up, gaining
nearly two points at one stage. Here
the December earnings were an In
centive, the gross showing an IN
crease of SS65,632 and the surplus
after charges, an increase of $59,
30S as compared with the month In
1928
ST. Paul Report Studied.
In view of the optimistic references
to the supposed turn in the st. Paul
situation early last Autumn, the fig
ures for December and for the com
plete 10 months of 1924 were of much
interest They showed for December
a decrease both In gross and net, the
former $4,000. the latter 3lS0,o00.
For the entire year net operating in
come amounted TO S1S.972,1 ,106, against
$2O,167,7l3 in 1928. This apparently
means that fixed charges were not
covered and leaves a legitimate
ground for inquiry as to what was
the basis for the favorable predictions
of last September and October
March Report Feared.
The selling in American Woolen
stocks apparently had no other ground
than the anticipation of a very un-
favorable annual report in March.
The gossip Is that IL Is douDtIul II
the preferred dividend will be shown
TO have been earned. The violence
with which the preferred shares
broke today was an even more strik-
ing feature than the drop In the COM
mon below so for the first time.
The selling in L. S, Steel and Cen
eral Motors repre- sented merely
profit taking sales in stocks which
had been leaders last week. Only
the usual dividends are expected at
the U. S. Steel meeting Tuesday. Best
opinion was that the big jump in
Commercial Solvents was due to
extraordinary earnings.
The oil shares went higher early in
the day and were better supported
than any other group IN the later
trading New high prices were the
rule in stocks like Pacific Oil, Phillips
Petroleum, Texas Company, Sinclair,
which sold above 20, Associated Oil
and Skelly, which got above 81. The
Street was still optimistic on the oils
because until recently. they had taken
very little part in the general ad-
vance.