Evening star., 1925-08-22
UNCERTAIN PRICE MOVEMENT
SHADOWS THE STOCK MARKET
Weeks Review Shows Gain in Average of Selling
Levels Over Previous Week, But Predictions
for Future Are Held ValueIess. '.-"

tn. greatest activity and the largest
gains have occurred In the Stock
Market again this week. The shares
which have gone up the fastest and
farthest have been chiefly OF the type
of General Electric and American n Ca n.
In comparison with the great num-
Der of listed issues. only handful OF
stocks have really done anything re
markable. The strength has, of
course stimulated buying over a wide
range, but for every stock in which
the public has any financial interest
and which advanced. there was an
other which either remained virtually
stationary or lost ground.
Moreover. 1t Is a question whether
the short interest" which many say
exists TODAY in Wall street. is as
large as has been estimated. Specu
Iative pools have been very busy with
their favorites, but even these re-
view uf the list will show to have
undergone sharp recessions.
Trade Reports Hold Favorable.
The reports from the trade cen
trails. according TO the week end mer-
camille accounts. were made favor
able. Dun's Review states that prog
ress has been on a conservative
basis, thus strengthening the pros
less expansion has occurred in all
the principal industries" Competi-
ton for orders, II adds, is keen.
The earliest traffic returns Of the
railroads for the month of July were
highly Satisfa ctory, and there is rea-
son to look for further increases in
net revenues in view OF the present
high rate of car lOadings. which have
established new records for this time
OF Year.
Irreguiarity In Metals.
Copper metal Is very close to the
15-cent level and other non-ferrous
metals have risen to the highest in
several years. on the other hand
the average prices OF steel products
remain below what 1t was In 1924.
Plant operations have been expand
ing. but the small profit margin has
offset them.
The buying OF the steel stocks this
week under the lead OF United States
Steel common, was somewhat in the
shape Of discounting movement and
at the anne time might have been a
, maneuve' on the part of professions Is
to help sustain interest when it
showed si.;ns OF lessening.
Debt Funding Helps Exchange
debt funding activities was to bring
about a partial recovery In Belgian
and French exchs nges. Also the dol
lar bonds OF these countries held their
recent gains. The bond market was
looking to the possibility of further
successful funding operations in con
nection with the international debts
which IT was thought would result in
a better market for foreign loa ns. with
an sccompa nying rise in the prices OF
| outstanding foreign issues in this
ma arket.
Another reduction in the note circu
/ lation and a decrease OF over "a 900.
| 600 fra ncs in sdvs noes to the state
| were the features of the weekly state
! ment Of the Bar of France. Ad
yances To the state now stand little
! less than 100000 francs below tn,
! legal limit voted by the French par
| lament last June. These develop
ments might have had as much 10 DE-
| with the improvement in the marke
! for French exchange did the pros
poets of debt negotiations. Al any
| rate, the franc and other continenta
currencies. did better in the New Yorl
! market.