Evening star., 1925-11-15
NEW HIGH LEVELS
\ PRECEDE SELLING
Drive on Motors Checks
Gains in StockS-Saturday
II. Trading Enormous.
y the Associated Press.

by the Associated Press
NEW YORK, November, Ire
sliewal of selling pressure against the
sindustrials. particularly the motors,
halted the upward movement OF
prices in todays stock market. but
Hot until a score of, rail issues had
klk1ounted to their highest prices i'll
Eyear or longer. Trading was on an
enormous scale. the days sales of
tl506.3O0 shares being the largest of
Siny half holiday session in about 20
fyAars.
HRails were under heavy accumuia-
tts0n from the start, with buying in
sfsuenced by rumors OF the forth
kfbming increases i'll dividends on
New York Central, Baltimore and
Ohio and some of the Western car
riers. Nickel Plate jumped points
to a new top at 1o7 in expectation of
early approval of the Van Sweringen
merger by the Interstate Commerce
Commission.
i Southern Rails Strong.
: II New peak prices in the rails also
were established by Baltimore and
Ohio common and preferred. Chesa-
peake and Ohio common and pre-
ferred, Pere Marquette, Erie common,
(. Pittsburgh and West Virginia. New
York Central. Norfolk and Western,
Lehigh Valley. New Haven, South
sern Railway, Wheeling and Lake
Erie common and preferred, Sea-
Hoard Air Line. Pennsylvania, North
fern Pacific and Great Northern pre-
: feired.
: "The early gains in these issues
sranged from l to points. but many
of them were substa ntially reduced
In the late wave Of selling.
Selling Wave in Motors.
Motors were heavily liquidated on
the theory that with the recent dec
E laration of the s. extra cash dividend
on General Motors all the good
news" in sight had been discounted
hv that group. Chrysler broke over
10 points to 20S and then rallied to
2l224; Hudson fell over 7 points to
! l09 and then rallied a point. and Cen
seral Motors, Studebaker, Chandler.
Jordan, Hupp, Paige-Detroit, Pierce
Arrow, Mack Trucks and White
. NJ o.err showed recessions of l to 3
points.
F. 13.United States Steel common was
bid up to within "A fraction of the
year . highest at 1881, but a food
: of offerings appeared around that
figure and carried the quotations
, down to 13412. 1t subsequently raj
lied to 1865 for net loss of 1s on
y
net decline of over points at 25oia
and Baldwin dropped IL to 127A
after having sold as high as 1908.
/, Break i'm General Electric.
! !! General Electric broke nearly 10
points to 320 and then rallied to 323.
/ United Cigar Stores and United
States Cast Iron Pipe also reacted
sharply.
soils developed a temporary burst
1 OF strength under the leadership of
Marland and Mid Continent, which
were elevated to new 1925 high levels,
but they later reacted with the rest
of the list. Recent buying of these
issues had been predicted on reports
of an early increase in Eastern crude
prices.
a Independent Strength Shown.
. sIndependent strength also was
shown by Foundation Co.. Liggett &
Myers, American-La France Fire
Engine and American Safety Razor,
all of which eclipsed their previous
maximum quotations.
- Foreign exchanges moved within
rather narrow and irregular limits,
with the principal continental rates
showing an easier tone. Demand
sterling held steady at $4.s4A, but
French francs dropped about 5
points to around cents and Italian
lire yielded slightly to 4.o31a cents.