Evening star., 1925-11-20
STOCKS SELL OFF
NF|NAL TRADING
EA5
Steel Common and Hudson
Among Shares Freely
Sold at Close.
BY SIT ART L. W EST
n Disnat,h 10 The Star

III Stt Ahi = w i"'h'
special Dispatch to The star
NEW YORK. November @o.-lriceS
went higher on the Stock Exchange to-
day but after an early outhurSt OF
strength. considerable selling was en-
Cuuntered in certain sections of the
list and this brought prices down from
their=tops. United States Steel com
mon after getting Well above 1873 came
nff easily in the last half hour.
hudson Motor was offered freely
after getting we'll above l0l. ITS ac-
ZION appears to be rejecting dlSap-
pointment over the failure of directors
TO do anything more than declare the
regular quarterly dividend at their
meeting today.
Tobacco Products.
Tobacco Products crossed par for
The first time and later went con
siderably higher. The move was as
ribbed commonly to the same interests
which are usually back ~ operations
in this stock Other tpl stocks
We're sympathetiCally strong, especial
" Liggett x Myers -. The buying
extended TO Lorillard and Consolidated
cigar. The shares Of rails concerned
with the Van Sweringen merger con
tinued the rise. Nickel Plate, common
and preferred. the latter taking into
account the dividend which has just
come off the price. sod at new highs,
and so did Erie. Other new high rec
ords in the railway list We're made by
PENNSYLVANIA. Norfolk and Western
and New Orleans, Texas and Mexico.
The suppositiOn is in the case of the
last named that the dividend will
eventually be raised in order to recon-
pense the Missouri, Pacific for its in
Nestment.
Il. 6 D. Shares Very Strong.
Baltimore and Ohio was very strong.
The statement by President Willard
that the net income this year would
lie around 100000, 900 against $23,-
900 900 in 1928. did not seem especial
" encouraging TO the hope of higher
dividends. Nevertheless. Wall Street
continues to believe that the rate VIII
he increased.
Kansas City Southern, which was
strong on Thursday, was noticeably
higher today. The buying was con
nected with the October traffic fig
ures which showed d slightly lower
gross. but a net of $3.50 sos. against
S451 956 last year.
There were new high records in
United States Distributing, Gabriel
Snubbers Calumet and Arizona. In
ternational Nickel and Dome Mines.
The buying in Dome followed reports
that new ore bodies have recently
been encountered.
The Improvement in the sugar po-
sition was reflected again in the sugar
stocks particularly in South Porto
Rico and in American Beet Sugar.
Radio Stock Weak.
Radio Corporation OF America stock
was weak feature, selling AT new
low prices for the year. Although
considerable part of the Street eN-
pressed itself as bearish on Radio Cor
Dora ton stock. at the same time 1t was
4 bit apprehensive over the techncal
position. which, it was thought, was
becoming more dangerous as short
selling increased. A large operator ls
credited with having retained big
interest in Radio Corporation shares.
and a ''run-in" against the shorts was
feared.
On the theory that the recovery in
New Haven's earning power had be-
come a permanent factor in the mar
ket for the stock and that the outlook
appeared favorable. New Haven was
included among the low-priced rails
which were spoken Of as being "out of
line" Earnings for 1925 are expected
10 be better than So a share.
New St. Paul Plan Out.
Details of the compromise plans be
tween the rival st. Paul reorSaniza-
lion committees. made public today,
showed that the effort TO obtain better
terms for the bondholders had been
successful. The principal change as
far as the bonds We're concerned Is
that the holders of the securities now
in default are to receive under the
new arrangement 20 per cent in new
fixed interest bearing mortgage bonds
and 80 per cent in investments, the
latter to be convertible equally into
preferred and common stock.
AS far as the stockholders are con
cerned. their assessment is to be re
duced if the Government agrees to
refund the S55 900 900 loan which the
st Paul now owes it on a lower in
tereSt rate than per cent. If this
attempt is not successful the assess
mentS on the stock will be the same
IS under the original Kuhn, Loeb-N Ma
tional City plan, which vas S2S on
he preferred and S32 on the common.
Stockholders are to be assisted
through a loan syndicate in paying
ash assessments.
The new plan also involves the Sc
lection of five voting trustees: For
mer Secretary of State Elihu Root
Samuel Rea former president of the
Pennsylvania Railroad; Henry s.
Pritchett. president of the Carnegie
Foundation: W. ID. Van Dyke and
Frederick -. Echer. vice president
NIat .,,1i 1rNCI