Evening star., 1925-02-24
POOL FAVOR|TES
PUSHED UPWARD
Further Advance in Call
Money Puts Late Curb on
Advancing Values.
BY STUART =. WEST.
cial Dispa tch TO The Star.


NEW YORK, February 24.-There
were numerous strong spots in to-
days Stock Market, and the list as
whole gave good account OF It
self Strength was fairly evenly
distributed in both Industrial and
railway shares.
The upbidding OF high-priced stocks
of the type of American Locomotive
and the continuance of operations for
the advance in pool faVorites were
the features among corporation
shares In the railway section, atten-
tion centered on the movement of the
St Pauls, New Haven and few higher
grade issues, such as Atchison, which
were selling well up to their recent
highs.
American Loco Scars.
Reports of an increase in the divi-
dend from the present $6 TO IS was
still the motive back of the remark
able rise in American Locomotive.
But while the business prospects for
all the equipment companies are Ia
vorable, the main impulse to specu-
lative operations comes from the fact
that their outstanding supply is
small, and that they are held largely
by persons of wealth who cannot af-
IOr0 10 sell 1OE income NdA ltdSpllS
or else who are Indifferent to market
fluctuations. This is the real incen-
tive back of the advance not only in
American Locomotive. but in Bald
win Railway Steel Springs, and
American Car and Foundry. The last
named made d new high today, as 1t
went through 207. Lima Locomotive
was unusually active and strong.
Steel stocks most of the time Were
moderately strong. United States
Steel was literally supplied as it
neared 125. Bethlehem Steel was dis
tinctly heavy again Colorado Fue!
and Iron went up, but more on oil
prospects than on steel trade pros
poets. Sloss Sheffield was bid up
again.
New Haven Leads Rails.
Among the rails New Haven was
leader. 1t was rejecting the feeling
that New Haven might be considered
definitely out of the woods. The
Seaboard Air Lines were heavily
bought at rising prices. Rock Island
touched So. then ran into a lot of
taking Nickel Plate issues
were strong again. and Atchison once
more turned upward.
The feature in the motors was Pack
ard, which ran up to a new high above
10 on an unusually large turnover. JOr-
dan Motor was very strong.
Sugar STOCKS did better for a time un-
der the Lad of American Sugar and
Cuba Cane preferred The buying seemed
-tp he purely the result of market condi-
tfons. Columbia Gas above 40 was SELL
ing close to its previous high. There was
particular strength among the special
ties, in Air Reduction, in Savage Arms
in Radio Corporation and in Woolworth.
Packard Motor Active.
The activity and strength in Pack
ard Motor Car stocks, especially the
common, have attracted attention and
created some discussion regarding the
preferred. 1t is reported that since
the company reduced prices on its
closed models late last Fall, gross
sales have trebled as compared with
the preceding period from November
to February. The per cent cumu-
lative preferred stock, which is SELL
ing at its highest prices for the year
above 107, is redeemable at 110 at any
time on 80 days notice.
Efforts to determine whether, as
rumored, the directions contemplate
the retirement of the preferred, have
met with no success. Packard is in
a satisfactory cash position.
CLOSE IS IRREGULAR.