Evening star., 1925-05-25
STOCKS SLOW Up
AS MARKET CLOSES
Cross Currents Develop in
Afternoon-TWo Score Is
sues at New Tops.
BY STUART p. WEST.

Special Dispatch to The Star.
NEW YORK, May 25.-New higf
records were common on the stocf
exchange today. There were at leas
% stocks which sold above their pes1
prices of 1925.
New high prices were for the mos'
part made in stocks in which the
public is only slightly interested. anc
which can be readily moved one way
OF the other on comparatively SINAI
operations. Among these were GER
tain of the tobaccos, one or two oi
the chain store shares, the paper
stocks, some of the motors and a 1e"
Of the rSllS.
Auto Reports Stir Street.
Wall Street was aroused by the re
ports over Sunday regarding condi
lions in the automobile trade. Ihese
bore out previous information thai
production has been on the increase
and that the trade is facing a year
nj large profits, on account or big out
out rather than because of high prices
The railway shares came TO the
front and displayed greater strength
than they had in some time. Nhle
this demonstration in the rails was
III progress, active profit taking oc'
Cured in the industrial section, carry
zig many of the recent favorftes down
sharply. There were, however, sew
eIral individual upward moves in this
quarter but il was evident that specu
iative syndicates were finding 1t more
difficult to bid up their speclaltles.
Steel Common OF.
Selling was persistent in the in
dustrial leaders from the start. United
states Steel common, Baldwin Loco
motive, American Locomotive, Ameri-
can Can and most of the oils were
subjected TO pressure. In the after
moon Steel common sold we'll below
IlS, and this had an unsettling effect
upon the entire list.
The motor stocks were strong for a
time under the lead of Packard, which
sold above 90 in further response TO
The calling in of the preferred stock.
Studebaker, on a large turnover, sold
around top figures and General Mo-
lors around 77la. But as the day went
on the selling movement reached the
motor stocks and the Pierce-Arrows
and others, which had been prominent
in the recent trading, came down.
The buying in the railway group
lasted for less than an hour. During
this period there was considerable
talk about the disposition of the Cen
Iral Railroad of New Jersey and how
it would affect Reading, which owns
the majority of the stock.
Jersey Central Jumps.
Central of New Jersey ran up an
other points following its 15point
advance of last week. Reading, above
81, was up nearly points. There
was quite a bit os buying for time
in B. and o. and in Lehigh Valley,
in Atchison, in Delaware, LackaWan-
ma and Western and in the shares of
some of the Northwestern railroads.
Union Pacific sold above 141. Cana
dian Pacific was up a point, Atchison
was quoted at 121 as against last
weeks low of 119, and New Haven,
following the upward movement in
The bonds, was actively traded in
just under So, an advance OF nearly
5 points from week ago.
\ well defined story Of steel mer-
ger which would take in Otis ac-
counted for the buying at advancing
pri&es in the shares Of the Otis Co.
Special buying developed in American
Linseed, crossing 80. and new high
records were made in United States
Industrial Alcohol, Spicer Manufactur.
ing and Union Bag and Paper. Great
Western Sugar was the only sugar
stock which did much. The rise in
Park & Tilford kept on, and Wright
Aeronautical made a new high.
Sterling Very Quiet.
Sterling exchange moved scarcely
any. The decline continued, however,
IN French francs. At 500 the rate
was very little above the minimum of
g.03A, on March 3. This may or may
not indicate further transfers of
French capital seeking refuge in other
countries-that is to say. a renewal of
the flight from the franc" which
was such an incident in international
finance five months ago. But at least
il suggests a very uncertain feeling
rs to how the proposals of the new
French government for heavily in
creased taxation are going to work
out.