Evening star., 1925-06-11
MARKET IS STRONG
IN FINAL TRADING
OIL Stocks Feature of Day in
Wall Street-Many
New Tops.
BY STUART p. WEST.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK. June 1.-Oil shares
were the dominating feature again ir
the market today. They were the par
ticular group upon which bullish ener
gies We're concentrated. People who
have held the oil stocks for the last
two years, and who have gone through
all the disappointinents when these
stocks were doing nothing when
others were advancing, were saying
today that their favorites had at
length came into their own.
Three Leaders in Oils.
The three principal leaders among oils
were Texas Company, Independent Oil
and Gas and General Petroleum. I'm
official information concerning Texas
Company is that it earned consider
ably more than the full years divi-
dend during the first six months, and
that an extra distribution is conse-
quence is altogether likely. The rise
in Independent Oil above "a for the
first time recalled everything that has
been said of an optimistic character
since w. c. Durant was elected TO the
board. General Petroleum went up
over points. Skelly Oil developed in
creasing activity as it crossed 29. and
there was further talk about the en-
larged earning power recently ac-
CURED through the opening up OF new
properties.
Rail Shares Do Better.
The pressure was lifted from the
railway shares, and there were re-
3overieS of point or more in Rock
Island, Reading and Lehigh Valley.
Big Four ran up points, and Della
ware and Lackawanna =, but as a
whole int railway section was not
especially interesting.
Despite the claim that dividends on
Burns Bros. stocks were fully earned
in the first quarter, the ''B" shares
broke nearly 8 points and the "A
shares over 2 points. Reynolds
Spring made a new low, and 50 did
Rossia Insurance.
Shipping stocks We're strong, eSpe-
cially Atlantic Gulf and West Indies
and American International Mer-
camille Marine preferred went along,
but the Street has not forgotten the
adverse comment upon the situation
which the President made at the re-
cent annual meeting.
Sugar Shares Reach New Top.
Great Western Sugar ran up and
the preferred made new high. Amer
lean Republic had a remarkable jump.
the tobacco shares We're in demand
again under the lead of United Cigar
and Tobacco Products. United States
Rubber rallied more than a point, and
May Department Stores, which had
been weak Wednesday, recovered part
of its loss. West Penn Power, on a
few transactions, had quite run up.
Maxwell Motors "B" certificates re-
sponded to intimations that there is
to be a capital split-up and that the
dividends on the new stock Will work
out an equivalent of S12 on the pres
ent stock.
Some Other Strong Spots.
New high records were made in
Standard Milling, in American and
Foreign Power, which was up nearly
4 points; in the % per cent paid stock
of the same company, in Havana Elec-
trio, in Dodge Brothers preferred,
which ran up above 81 on large trad
ing. in Ward Baking "B," Mack
Trucks second preferred and Amerl-
can Type Founders.
Robert Refs shares rose to new
high prices in response to statement
by the president regarding current
business and the outlook. He said
the company's business since the 1st
of June showed the improvement has
amounted to as much as 80 per cent
over 1924.
uled to meet in the first week of July
for dividend action. For some time
the stock has been inclined downward,
and this, together with the none too
favorable report Of business for the
first quarter, have made a poor i'm
preston in the street.
Nickel Plate Merger.
The morning market letter of one of
the large Broadway commission houses
today said:
There is a lot of beariSh talk around
on the rails, some even going so far as
to say that the Interstate Commerce
Commission will not allow the Nickel
Plate merger. We question very much
the gossip that the commission VIII
frown on the merger in its entirety.
Furthermore, so far as we can see, the
buying of the good rails on this de-
cline is of much better character than
the selling"
MARKET CLOSES STRONG.