Evening star., 1925-04-28
STOCKS co HIGHER
IN FINAL TRADING
Gold Standard News From
London Most Vital Hap
pening of Day.
BY STUART p. WEST.
Special pisnatch to The star.


Special Dispatch TO The Star.
NEW YORK, April 2S.-The Incl
dent of overshadowing Importance in
the financial situation today was the
announcement by the British chancel-
lor of the excheQuer that restrictions
upon exports of gold by the Bank of
England had been removed. This
meant the resumption Of free gold pay
mentS for the first time since August,
1914. 1t was an event OF historic
significance, even if it had been thor
oughly anticipated. Sterling exchange
Immediately rose above S4.S3, which
placed 1t within cents a pound of
parity.
The important thing is that Great
Britain has now resumed in the inter
national exchange the full obligations
which were abandoned under the stress
of war.
Stock Moves Mixed.
The stock market made little prog
ress in either direction today. The
movement was very mixed and inter
est was still absorbed by individual
movements of stocks for special
causes. Attempts to depress prices
failed to bring out any important
liquidation.
The German elections were almost
forgotten in view of the cessation of
the selling in German and French
bonds. Interest shifted to the Eng
lish budget report and the plans to re-
sumo gold payments. Still the gen
eral list for the most part got nowhere
in particular.
Solvents Scars 20 Points.
Some spectacular fluctuations oc-
Cured in a few high-priced indus
trials. Commercial Solvents A rallied
nearly 20 points from the low reached
sitter its recent sensational break fol-
towing the publication of a statement
by the president of the company, re-
assuring stockholders regarding Com
snercial Solvents business. There was
d further violent jump in United
States Cast Iron Pipe. On the other
hand, the old kresge stock broke
badly.
Sugar stocks were weak because
OF the persistent sagging of sugar
prices. Industrial Alcohol went
through a rather unusual series of
variations. first developing strength,
then breaking on the double announce
ment about the proposed readjuStment
of capital account and the competition
of the new German product. 1t was
denied that the German competition
affected L. S. Industrial Alcohol's
business, but had to do only with
wood alcohol.
The Street was looking forward to
favorable quarterly report of U. s.
Steel after the close of business and
L. s. Steel common was somewhat
higher. But there was not sufficient
assurance on the subject to warrant
much aggressiveness in the buying.
Independent steel stocks did scarcely
anything.
Seaboard Air Lines were actively
bought again at new high prices.
The slogan of Seaboard being an
other Southern Railway" was evi-
IDENTIFY taking hold. Reports that
new interests were after the Norfolk
and Southern accompanied the con-
tinued rise in this stock. Reading
was strong and Erie first preferred
ran up nearly point. Northern Pa
cific. with the unfavorable report for
March out of the way, did better.
New York Central also showed relief
when the March decrease in gross
and net were relegated 10 the past.
Oil Trade Developments.
1t was reported today that there is
q desire on the part of the mid
continent producers and large
purchasing companies to secure
better outlet for oil on the Atlantic
seaboard. 1t is rumored that a large
mid-continent purchasing agency has
considered the advantage which
might result in taking over one of the
important eastern companies, and an
income along this line would not be
surprising.