Evening star., 1925-11-16
STOCKS SELL OFF
; IN TRADING TODAY
Motors Under Pressure as
Pools Drop Support-Rails
Hold Steady.
BY STUART =. WEST,
s pecial Dispatch to The star.

Special Dispatch 10 The Star.
NEW YORK, November l6.-Fur-
ther heavy selling of the automobile
stocks shook up the stock market
considerably for the first hour or so
today. then supporting orders came
in. accompanied by a fair amount of
new buying. This had a steadying
effect and encouraged a renewal of
operations for the rise in some OF the
oil shares and in some of the rails.
while bringing a recovery In the spec
ulative induStrials which had sold
off at the start.
At their lows. ChrySler Motor was
down nearly Is points, Hudson 6i2
General Motors over ,. Jordan nearly
;. Mack Trucks over >, Fisher Body
3 and White Motors almost 4. The
last named stock had lost all its gain
since the early summer. Du Pont
had a violent break. most of it oc-
curring before the announcement of
The So extra dividend. This, Of
course. had been entirely expected
after the action on General Motors
and the market treated it as piece
of favorable news which had been
fully measured by the great rise in
the stock.
Other Weak Spots.
General Electric broke points.
then rallied just as abruptly. There
was considerable pressure for time
agai inst Woolworth. The rubber
shares were actively sold. with both
United States Rubber and Fisk down
H. points or more. United States
Steel, which closed on Saturday at
1865. dropped below 135. but then
encountered somewhat better buying.
In the railway section the stocks
interested in the Van Sweringen
merger were the most prominent of
any. Nickel Plate made new high
and Chesapeake and Ohio did the
same as it crossed l15. The buying of
Chesapeake as we'll as the support
which came into Baltimore and Ohio.
when the latter sold off Ia points,
was partly based upon the marking
up of soft coal prices announced to-
day. New York Central went down
q point, then rallied to above l3O. 500
Line stock shot forward over points.
Oil Group Is Mixed.
The oil group was considerably
mixed. Standard Oil of New Jersey,
which had been strong at the begin
ming, sold off on the denial that the
preferred shares would be retired
The regular dividend on the common
90
consistent strength as any. There
was active trading in the Phillips Pc
troleum rights. which carried the priv
ilege of subscribing to new stock at
40. Phillips Petroleum shares them
selves were evidently being taken
care of around current levels. Texas
and Pacific Coal and Oil was I'M
usually active at an advance above 10.
The afternoon stock dealings were
still a good deal confused. But on the
whole they showed more confidence,
especially in some of the oils and
rails. But strength of the oils was.
next to the check upon the motor
speculation. the most noteworthy In
cident of the day.
The S52,00O,000 increase in the
clearing house bank reserve reported
after the close Saturday was a re-
markable occurrence, coming as 1t
did in a week where Federal Reserve
loans were reduced. Possibly the
motor-share collapse might have fur
nished a partial explanation. But to
a larger extent the astonishing gain
in the local credit position must be
Set down to the fact that crop NOV
ing demands are now pretty well
over.