Evening star., 1925-06-09
OIL SHARES RALLY
IN LATE TRADING
Market Closes Steady After
Many Early Losses Are
Recorded.
By STUART y. WEST.
.pocial Dsspatch to The Star.

Special Despatch to The Star.
NEW YORK. June 9.--Further eff
forts today in the Stock Market tt
depress the share list by forcing dowr
several of the leading railway shares
met with some success. on the other
hand. while the selling was heaviest
the oils held steady, and this group
together with numerous specialtieS
appeared to be receiving effective sup
port. In the afternoon there was an
irregular rally.
Some Declines Severe.
Some of the individual declines were
quite severe. Outside II the rails these
declines occurred mainly in stocks
which had the most extensive advance.
In hudson Motor stop orders were
caught as the stock approached 60,
and there was practically no market
for these offerings until the price had
dropped to 5S. Then substantial buy
ing was encountered, and subsequent
ly Hudson rallied. Coca Cola and Cas-
Iron Pipe were off nearly points, and
Maxwell Motors E certificates over 8
points. American Tobacco and Union
Bag and Paper We're down over 2
points. Nash Motor. after dropping ~
points, rallied almost as abruptly.
Railroad Shares Weak.
In the railway section, Reading at
one time was selling points under
last weeks high. and LehiGh Valley
points. Union Pacific was conspicu-
ousiy weak, and around 1874 was with
In Il point Of its extreme low OF the
year. Southern Pacific again touched
its low figures for 1925. Canadian
Pacific broke points and Roc; Is
land was off - point. There waS
further selling o., the shares involved
in The new NiCIle Plate merger. es-
pecially Chesa Hcale and Ohio and
Erie first preferred. New York Cen
tral was off over Il point.
Commercial Solvents l. dropped
over 10 points, American Ice over 4
and Great We tern Sugar the same.
Brunswick Bake -Collendar stock made
q new low fer the year.
Chandler at New Top
There were numerous points of
strength, however. Chandler motor
made Il new high for the year in the
face of the selling of Hudson, the
Pierce-Arrows and Willys-Overland
Brooklyn Manhattan Transit bet
tered its top for 1925 as it crossed 81.
international Telephone and Tele-
graph tiuctuated over wide range,
but seemed to run into ready buying
every time it sold of at all.
At one stage Otis Elevator was up
over 5 points and owen Bottle nearly
2 points, while the demand continued
for Gimbel Bros. The spectacular rise
in Havana Electric kept on.
New high records We're made by
kresge Department preferred. Fisher
Body and Ohio preferred, Kayser,
Electric Power and Light preferred
metropolitan Edison preferred, Ward
Baking \. and Tennessee Copper. The
last named was unusually active at
an advance of more than 4 point.
Tennessee Copper and Chemical
made new top for the year as
some large blocks changed hands.
This buying was in response to ru-
mors that directors OF the company
would put the stock on the dividend
list this summer. Earnings are run
ming close to So share and the
opinion was expressed that Tennes-
see Copper could afford to pay out 81
to shareholders because of its salts
factory cash position.
International Telephone and Tele-
graph was advancing The buying
was accompanied by bullish esti-
mates that net income this year
would be around $17 a share In 1924,
measured by the present amount of
stocks outstanding, the per share
profits figured out about $3.50.