Evening star., 1925-06-23
STOCKS SELL Off
! |NF|NAL TRADING
Pennsy Shares Cause Sur
prise by Rise-Rubbers Are
Strong-Weak Spots.
EY STUART r. WEST.
sclal Dispatch to The Star.

Specral Dispatch to The Star.
NEW YORK. June 23.-The favor
able impression created by further
new high records and sub stantial ad
VanceS in shares of the specially
class on the Stock Exchange was Off
Set today by the evidence of declin-
ing public interest. Weakness in
the stee's and equipments was an
npsetting influence as the afternoon
wore on. There was mixture OF
gains aud losses, the most notable
among the latter being the heaviness
of the railway equipments. One or
Two of the motors and oils went
higher, and buying came into q few
OF the public utility shares again.
Equipment Shares Drop.
There was nothing new in the rail
way equipment situation. American
Locomotive had sold eX-dividend OF
A.. per cent last week. The stock had
closed Monday at l14ls. 1t went down
today on light nsactionS below 113
This did not imply any considerable
volume of liquidation. but it did indi
cate an absence Of support. which was
surprising in view OF the way in
which the stock has been taken care
of for the last year or more. Baldwin
Locomotive ana Lima went down
sympatheticaly. The latest informa-
lion regarding the equipment industry
Is that operations are being conducted
Al around SO per cent.
Pcnnsy stock Advances.
The advance of over :. point in
Pennsylvania was an unusual oc-
currence. The stock went at one
time up TO 47la, which was the high
est reached in the recent trading.
The remarka BILE feature was that 1T
was an independent move and not
part of any general railway advance.
Still, the explanation was that it
was an adjustment to money and in.
vestment conditions rather than to
any expected developments in the
railroad field.
A number of individual advances
occurred in the forenoon, but in the
= fternCon the market sold off as rule.
In the course of the rise General
Motors common and I per cent pre-.
ferred made new tops There were also
new highs in American Type Found
ers. in Mackay Companies. which was
mp nearly 5 points. and in Kansas City
Power preferred.
Rubber Shares Strong.
The rubber stocks were strong for
time under the lead Of United States
Rubber and kelly-SDring gfield. Interna-
tional Telephone and Telegra ph jumped
another point and half. and Founda
tion Co. nearly points, while there
were advances Of d point to a point
and half in International Paper,
Fisher Body, American Bosch Mag
neto and Pan-American 3. General
Petroleum at one time was up 2 points,
and North American was an outstand.
ing feature, with a large turnover
and rise OF nearly a point.
While other stocks were sising
number of weak spots appeared.
Eastman Kodak made a new low for
the year and Marine preferred sold
below 80 for the first time A block
of LOO shares of Havana Electric
was offered for sale anG it took only
this to put the stock down nearly Z
points. Houston Oil broke nearly 2
points and Independent Oil and Gas
212 points, the latter subsequently
rallyiny.
southern More Active.
More attention was -paid to the
prospective decision in the Southern
Railway preferred stockholders suit
Equity Court at Richmond. Va. Pre-
ferred stockholders have sued for the
payment of money they claim is due
them on account of back dividends.
II was thought that. in the event of
a decision favorable to the holders of
the common, buying Of the entire
group of Southern transportation
shares would be stimulated.