Evening star., 1925-01-11
REALIZING SALES
l HIT STOCKS HARD
Early Gains Largely Offset by
l. Late Selling in Satur-
s day Trading.
STEEL TONNAGE REPORTED
Low.Priced Rails Active-Kresge
Crosses 5oO-American Can
{ Among Weak Spots
sBy the Associated Press.

Voy the Associated fress.
NEW YORK, January 10.-Stock
prices rallied briskly during the first
hour of todays brief session and
chen fell back sharply on a large
volume of profit taking, gains and
losses being about evenly divided
before the close. Total sales ran
over a million shares.
The chief financial news develop
mont of the day was the Unexpectedly
large increase of 7S4,7S7 tons in the
untitled orders of the United States
Steel Corporation. Conservative
Graders had estimated the increase
ct between 100000 and 100000 tons,
while the most optimistic forecasts
did not exceed 700,0 tons. The
statement was not made until after
Ehe market closed so that the ticker
reaction to the figures will not be
known before Monday. United States
Steel common held relatively steady
around 124. despite the heavy realiz-
ing in that issue. Bethlehem Steel 8
per cent preferred sold at the highest
price In more than a year.
Broad List in Rally.
The early rally embraced a wide
list, with brokers reporting a demand
sor stocks from all sections of the
country. The limited floating supply
of many issues resulted in some sharp
advances of 2 to An points. with
nearly so issues selling at their best
prices in year or longer. The list
included such widely diversified is
sues as General Motors, Famous
Players, Sears Roebuck, Certain-teed
Products, Tobacco Products A, Cen
eral American Tank, Standard Gas
and Electric, Fidelity Phenix In
Burance and American Locomotive.
Chief interest in the railroad group
Centered in the demand for some OF
che low-priced carriers, Missouri Pa
cific common and preferred, Western
Pacific common a4sd preferred, and a
few others touching new highs on
She movement. Denver and Rio
Grande Western preferred added
points to its recent gain by touching
ST, a new high, and about Is points
above the price a week ago. Profit
taking, however. forced moderate re-
cessions in Rock Island, Chicago
and Ohio and several other issues
which had shown signs of strength
IN the early dealings.
"a Outstanding Strong Spots.
Some of the outstanding strong
Epots were American Brake Shoe,
American Radiator, American Repub-
lie, Associated Dry Goods, Century
Ribbon, Continental Insurance, r. H.
Macy. Nash Motors. Phillips-Jones,
Simms Petroleum. Stewart-Warner er
and Worthington Pump, all up 2
points or more. S. S. Kresge crossed
500 for the first time.
Reactionary tendencies were noted
IN American Can, American Car and
Foundry, Central Railroad of New
Jersey, General Electric, Pacific Coast
second preferred, Phillips Petroleum,
Railway Steel Spring, United Railway
Investment preferred and Wilson
Packing, the losses ranging from 2
to points.
Foreign exchange trading quieted
down considerablya demand sterling
ruling just under s479. Most of the
other European rates were reac-
tionary.
Wall Street Features.
NEW YORK, January 10.-A strik-
Ing illustration of the absorptive
power of the stock market was sup
piled today by a broker who reported
that he had just completed the
liquidation of 10000 shares of q single
stock for a large client, but that the
market price was now higher than
when he started to dispose of his
line a few weeks ago.
Several large blocks of Kennecott
Copper stock changed hands in to-
days trading, $500 shares selling AZ
67A and another 1,100 shares soon
after at 81. Net earnings last year
are estimated at $3.50 a share. AS
the company is paying only SO a
share annually much interest is at
fached to the next dividend meeting
tho last week in February.
Freshman Directors to Meet.
Charles Freshman, president of the
Freshman Radio Co.. stated today
that a directors meeting would be
called in the next 80 days to con-
slider dividends. as the company was
IN a position to inaugurate substan-
tial payments to stockholders Earn
tngs are at the annual rate Of $13 a
share, he said. and the company has
10 bonded debt or bank loans.
The annual report of the Missouri
Pacific of 1924, it is expected in the
financial district. will be of the best
in the roads history. to which has
been attributed recent buying of both
preferred and common shares. Some
estimates place probable earnings on
the common stock as high as 81 a
share.
Central Orders Engines
Steel sheet bars are selling at $40
b. ton in Pittsburgh district, an ad-
vance of 81.
The New York Central has ordered
HeVen 100-ton electric switching loco