Evening star., 1925-06-04
STOCKS SELL,0FF
IN LATE TRADING
Market, News Considered
Depressing-NeW Highs
Earlier in Session.
BY STUART p. WEST.

Special Dispatch to The Star. e.. ,-.-
NEW YORK, June 4.-The stock
market today in the main drifted
downward. In many instances prices
slipped off 2 to points from Wednes-
days highs, and this condition was
scarcely offset by a smaller number
Of new high records and rather in
effective attempts to bid up a few
special issues. The break in the
public utility shares, particularly on
the curb exchange and over the
counter" was a depressing influence.
The lowering of the call money re-
newal rate to az per cent, on the
other hand, failed to stimulate the
market.
Rails Inclined to Sag.
The railway shares with only two
or three exceptions were inclined to
sag. New York Central was quite
weak, and along with Canadian Pa
cific and Atchison was off TX points
or so. Rock Island dropped a point.
Against this Southern Railway was
well taken around 81, and Reading
rallied from it's low point or more.
Nc significance attached to the
movement in rails except that specu-
lation has been leaving these stocks
alone and consequently restless trad
ers have been selling them out and
going into other things.
Many New High Marks.
The new high records were made in
Coca Cola, Nash Motor, Fisher Body,
International Cement, Ward Baking
preferred, Cushman's Sons, Mack
Trucks first preferred, and American
Ice. The buying in the last named
came mainly from one of the large
houses. There was the usual talk in
connection with the rise in Coca Cola,
about this being the season of maxi
mum earnings. Also, of course, there
was the well known contention of the
profit margin being unusually big on
account of the low sugar prices.
Shares Of typewriter companies were
strong, with more activity in Rem
ington and Underwood. There was
special buying in Gimbel Bros. stock,
Standard Milling and Midcontnient
Oil. The latter was the only oil stock
which did anything. Some short COW
ering was done in Baldwin Locomo-
tive, in the course of which the stock
crossed 1lS. But later 1t slipped back
again.
Some Sharp Reactions.
1t took scarcely any selling to put
American Wool down over a point.
-h1oSh IL 0Nho. WHICH at llTSI TdQ $1,000
up against the disappointment occa-
stoned bv the action of the directors
IN declaring only the regular dividend
Tor the quarter, at length gave way.
Willys-OYerland was heavily sold Chi
cago Pneumatic Tool broke over 2
points, Montana Power points and
Aay Department Stores 4. There was
y sharp reaction also in Consolidated
Cigar.
Mack Trucks Action.
Persons who professed to know the
attitude of important holders of
Mack Trucks stock today expressed
the opinion that the rather sharp
fluctuations which occurred in Mack
were the result of attempts to shake
cut a part of the speculative follow
rag. They said the operation had
been successful, that stop loss orders
had been. caught, and that the con-
troll from the faction was cleaning
the. decks" in preparation for a re-
newal of operations for the rise.
Oil Shares Quiet.
Observers in well informed circles
On oil trade conditions believe one. of
the things that has held back the
OIL shares recently has been the fear
OF high production. The very heavy
consumption has failed to Offset these
niSg1vings, and, as consequence, the
oils have not attracted the public fol-
iew1ng that had been anticipated.