Evening star., 1925-03-26
WABASH "A GAINS
ON DIVIDEND NEWS
MANY Other Stocks Also
Show Better Tone Today
in Wall Street.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 26.-During much
of the time today on the stock exchange
the price movement dragged along with
no important change in either direction
Public interest was at a standstili ana
the professionals had things to them
selves, but they showed little disposl-
ton to take the market out OF ITS rut.
II was noticeable however. that as on
the preceding day, there was an under-
current of strength. This had the .el-
feet OF keeping the list steady. STOCKS
sold out two and three months age II
appeared were still being quietly ac-
cumulated and the Street was talking
more optimistically than it had 1or
three weeks or more.
Erie Preferred I'm Run.
Erie preferred stock ran up'in oom-
pliment to the action OF tne stocA
holders Wednesday in voting the .for7
NAL approval of the lease to the
Nickel Plate. There is some idea on
the mart of a small minority who nave
not turned in their stock. that .tney
will get more favorable treatment IN
the end, but this is nothing more 'nah
guesswork unsupported by the prop
abilities.
The court proceedings in Richmond
under which the injunction brought
by one of the two protective commit
tees looking after Chesapeake anu
Ohio interests in the van SWerlnBen
merger did not appear to be at All
conclusive So far as they Went now
ever. they were favorable from the
standpoint of those who are working
for the merger to go through.
Union Pacific Improves
Texas and Pacific, having gone down
10 points on the alleged disappolnt-
meut because nothing was done about
dividends, was in position 10 raliy'
and it did rally energetically. ROCK
Island was helped by the strength IN
this and other low and medium priced
rails. The higher-priced dividend pay
ers were not so prominent But the
selling pressure seemed TO nave oeen
lifted from Union Paclhc.
Oil shares were irregular, WIN va
riations scarcely exceeding nan
point or so in stocks like Phillips Pete,
California Pete, Sinclair, Independent
oil and Gas and Standard of New er-
sew. Pure Oil was bit stronger than
the average of the group, getting ABOVE
81 again.
American Wooden Weak.
Confirmation of reports that the
conner metal was available freely at
l4lA cents a pound explained the
slugeishness in the copper STOCKS.
Some fresh selling came into Ameri-
can woolen. The shipping stocks
were strong for a time and special
buying was going on In American
Sugar on dividend talk.
The explanation for the record
high on Nash Motor was a capltal
split-up. Chandler Motor appeared
to be getting ready for the declara-
ton of the regular dividend at the
rate of SO and Maxwell Motor was
strong. There was quite sharp up
turn in various specialties. such as
Foundation Company and Interna-
tional Harvester.
A better market has been noted re-
Gently for the shipping shares-At-
lantfc Gulf and West Indies ana IN
ternational Mercantile Marine. rms
is a reflection of the turn which
came in the industry some time ago
and which it is thought will be en-
phasized from now on. Persons wei!
Informed about the Atlantic Gulf and
West Indies situation are optimistic
about the outcome of the Ward suit
New stock on Big Board
The new F. G. Shattuck Co. stock,
admitted to trading today, was fair
ly active, selling in the 40s. Accom-
panying it's introduction to the list
was a statement of earnings for the
year ended December 81, 1924, which
showed net profits of s1,06o,107, after
interest, depreciation, Federal taxes.
etc. After preferred dividend require
ment of $s2,40 there was a surplus
for the IL months of S977,700.
Bullish sentiment was expressed re-
sarding Royal Dutch. The company
was described as one of the standard
and best known oil companies. with
operations in the oil industry so di-
versified and covering such a wide
territory that it is in an especially
advantageous position.