Evening star., 1925-11-11
STRONG COMEBACK
IN STOCK MARKET
Many Issues Recover Much
of Yesterdays Losses
During Collapse.
BY STUART II. WEST.

Special Dispatch to The Star.
NEW YORK. November ll-PriceS
rehounded sharply in the stock marllt
today.
Wall Street had looked for a flood
of selling orders to come in at the
opening as the result of the sending
out OF margin calls after Tuesday s
great slump. These margin calls
proved to he much less than expected
and when this was recognized, traders
began TO bid for stocks partly 10 cover
In their short contracts and partly in
the course OF operating for rally.
The result was that the market quick
" got back quite a part of the loss.
Hallway shares took the lead closely
followed by the oils.
Il. h o.. Stock Strong.
Baltimore and Ohio stood out
strongly during the turmoil of the
previous day 1t had acted as a
stock would act where there was Il
real desire to buy The Street for
some time has believed that Il diVi-
dend increase is impending, the only
question being as to whether the rate
would be raised from the present per
cent to 6, or whether it would be
raised to Z As the general list start
ed to recover. B. X q. came TO the
front ana ran up easily under buy
ing on an unusually large scale.
Other rails soon fell into line. South
ern Pacific. which has been dragging
so long. rushed up across par. New
York Central, Lehigh Valley. Reading.
Atlantic Coast Line. Louisville and
Nashville, Northern Pacific and Great
Northern preferred were carried
along. The Wabash issues were very
strong. and so were Western Pacific
and Rock Island.
Oils Pushed Upward
The oil stocks had been pointed up
ward before the break. Operations for
the rise We're promptly renewed where
they had left off and under the same
leadership. Pacific Oil was the fea-
ture, and the ease with which it was
bid up first across 50 and then to con
siderably higher prices irdicated that
powerful hands We're back of the
movement in the sock. Mid-COnti-
mental Petroleum, Marland and Pan
American "B" ali had remarkable ad-
VanCeS.
The motor stocks. having suffered
the worst of any on Tuesday. natur-
ally came back the most abruptly as
soon as the market turned. There
were violent rallies in Hudson. Mack,
General Motors du Pont and Crysler.
Inere were very large ueilluSS III
Studebaker at advancing prices.
Sharpest Industrial Gains.
The sharpest advances in the indus
trial group outside Of the motors
were recorded in L. S. Rubber, Amer
Jean Can. Baldwin. Sears-Roebuck.
American Smelling. Continental can,
F'leischmann, Youngstown Sheet and
Tube. Crucible Steel. Foundation Co,
ityln
Electric. Allied Chemical. American
Sugar and Pathe Exchange. The
last named speedily regained half Of
its 1l-point downward plunge of the
day before.
This action of money rates took
away much of the apprehension which
had been felt regarding the possible
increase in the New York rediscount
Thursday 1t gave more courage to
the view that the Boston advance was
in the nature of a minor readjustment
TO conditions in the outside market.
and that If the New York bank should
take the same step it would have only
a similar significance. The feeling
that the raising OF bank rates might
have been intended as a check upon
speculation pretty well disappeared.
With this much settled the market
started to come back. and once started
it continued with a good deal of vio-
lenCe. During the greater part of the
time the volume of transactions even
ran ahead of Tuesdays record-break-
ing total.
Afternoon Trading Slows Up.
The trading slowed down in the
late afternoon. The excited fiuctu-
ations ceased. The stock ticker
caught up with the market for the
first time in two days. The Sug-
Sestion still was that the plunginG
about of big operators in their eff
forts to sustain a tremendous public
speculation had met with a decisive
check.
The points brought out mainly in
the midweek steel reviews were the
large railway rail orders, present and
prospective, and the continued. al
though slight, tendency toward higher
prices.
The cotton market had the best
rally it has had at any time since
The radical revision in crop estimates
drove prices TO the seasons low.
Little happened one way or the other
in the foreign exchanges.