Evening star., 1925-06-19
SINCLAIR RULING
/ LIFTS OIL STOCKS
Heavy Buying Operations
Keep Market Strong
Throughout Day.
BY STUART p. WEST.

Special Dispatch to The Star
>:EW YORK, June 19.-Interest il
the share list today converged on the
movements of individual stocks. some
of which made new highs, while
others fell back sharply from theil
recent tops.
Following the advance in the cop
per metal from 1855 to 1873 cents !:
pound, which had been accomplished
on the previous days of the week, the
copper shares were strong. Cerro de
Pasco jumped points, and Calumet
and Arizona nearly as much. Magma
was up a point and kennecott and In
Spiration over a point. Anaconda or
good sized trading rose point. Ray
Consolidated was unusually active al
higher prices. Federal Mining and
Smelling rose points, and Utah over
point. American Smelling sold above
105 as against 10i at Thursday
close. but the stock ran into profit
taking at the higher figures.
Sugars at New Highs.
Stocks which made new high rec
ords for the year included Great
Western Sugar, which ran up over 2
points; South Porto Rican Sugar,
which responded readily to favorable
intimations given out the day before;
Ajax Rubber. which was bid up
across Is: lion Tank Car, House
hold Products, Howe Sound, Famous
Players preferred. Armour of Illinois
class A and Fedetai Light and Trac-
ton. A block of 1000 shares of the
last named was tiken at Sc. repre-
senting an advarte of over a point.
Sugar stocks again reflected expert
opinion that enc unfavorable condi-
tions in the Sugar industry had been
discounted american Sugar, South
Porto Rican. Cuba Cane preferred and
Great Western Sugar were the fea-
lures. South Porto Rican preferred
jump,c points.
7ierce-.ArrOw Stocks Break
Colorado Fuel in Wall Streets mind
assumed today the character of an
oil stock. rather than of a coal and
iron stock. and was run up with very
little difficulty.
Pierce-Arrow stocks broke sharply
on the statement by the president in
denial of the rumors about a merger.
Also it was denied that any dividends
We're contemplated on the old pre-
ferred stock until existing bank loans
had been liquidated. Wall Street, de-
spite this official statement, continued
bullisb on the Pierce-Arrow situation
and the common shares after breaking
points regained part of the loss in
the late afternoon.
Sharpe Advances Near Close.
Some remarkable advances occurred
In Industrial stocks which are easily
marked up on account of their small
floating supply. The main features of
the late afternoon were the shares of
motor truck manufacturers, the su-
gars, and "A few of the public utilities
The selling of oils at the same time
slackened and these stocks were dis
posed to rally.
1t appears that the dividend re-
sumption discussed in the case of
American Sugar Refining is dependent
upon improvement in the sugar mar
ket. Well informed people believe
that raw sugar will advance to 31a
cents a pound in the coming months
and it is calculated that such a de-
velopment would be very helpful to
not only the leading sugar producers,
but be very helpful to refining COM
panieS as well.
Armour & Co. of Illinois class A
stock advanced to a new high in re-
sponSe to bullish statements regard
ing the packing business and the af-
fairs of the company itself, and re-
ports of the Armour earnings stu
alton are optimistic.