Evening star., 1925-05-20
OIL SHARES BID Up
IN FINAL TRADING
Market Closes Strong After
Day of Many New High
Marks for Year.
BY STUART =. WEST.
Special Dispatch to The Star.


NEW YORK. May 20.-Many new
high records were established agaiI
today in the active trading on the
Stock Exchange and the upbiddine
one after another of highpriced in
duStrialS and specially favorites
which has been the rule in the recent
market, continued. At the same time
there were numerous advances -
some of the more speculative and sea
soned industrials of the type of Amer
lean Smelling, the railway equip
ments, the steels and the mail order
and department store issues.
Motors Hit New Highs.
Motor shares were again Sminent
in the buying. Pierce-ACuw pre-
ferred and Maxwell Motors Is both
bettered their former highs, General
Motors, heavily dealt in at a Eair
of over points, was Influenced sen.
timentally by tie sensational jump
in du Pont. which at one time was
selling nearly - points above where
it stood recently as Tuesday. Later
in the day stock was thrown on the
market by those who felt that the
rise had been pretty rapid, and du
Pont came down sharply.
Steel shares were responsive to the
increasingly favorable tone in reports
midweek reviews emphasized especial.
ly the signs of improvement in pig
iron. and sheffield, which had
shot forward on the previous day
had a further advance. L. s. Steel
crossed 1l9 for the first time in nearly
three months. The so-called independ
net steel shares were generally higher
Smelling Shares Forced Up.
ing something favorable in store for
stockholders. was bid up across par
and later across l01 on large trans
actions. This started buying in the
copper list, and Anaconda, kennecott
and Cerro de PaSco were features OF
the afternoon trading.
The public utility group again pro
vided remarkable features. There was
"A further l0-point jump in Utah Sc
curities To $50. Inasmuch as the dis
solution plan calls for SO in cash and
four shares of the newly created Elec
tric Power and Light for each share
of Utah Securities, Electric Power
stock kept pace with the rise when
1t sold at 80. Standard Gas made a
new high above 81 and Columbia Gas
got UP to top figures as it crossed
66. West Penn Co. had quite jump
as logical accompaniment Of the
recent move in American Water
Works.
Market Best at Close.
There was profit-taking in Mack
Trucks and further weakness in In.
ternational Mercantile Marine pre-.
ferred. Nothing more developed in
The Mercantile Marine situation to ex.
plain the recent selling. which was
being set down to the prospects of a
disappointing report for 1924.
Stocks reached their high prices as
Il rule in the final hour. 1t was the
hroadeSt buying movement seen SO
far, taking in the steels. coppers and
oils, which had not done much on
the preceding days of the week, al
the same time continuing vigorously
in the motors, in the public utilities
the railway equipment shares and a
variety of SpecialtieS.
There was a good deal of discus
sion about the action of United States
Steel common, as it got to high foI
the present movement. The upbid
ding of this leading industrial was
looked GSon as an indication of an
improved market for the steel shares
generally, and, taken with the more
favorable news from the steel centers
created a better impression.