Evening star., 1925-04-17
OILS DEPRESSED
BY PRICE CUTTING
Railroad Shares Make Good
AdvanCes-Marked Gains
in French Money.
BY STUART p. WEST.
Special Dispatch to The star.

BY STUART p. WEST.
Special Dispatch 10 The Star.
NEW YORK, April 1.-THE same
uncertain price movement which has
characterized the Stock Exchange
dealings the greater part of the past
week occurred again today. Attempts
to bid up specialtieS one after another
were not especially impressive. The
motor shares continued in favor, While
the oils, sugars, metals stocks and
other sections of the list were still
heavy.
Rail Shares Advance.
Strength in the dividend-p paying
rails was again attributed to the de-
cline in money rates, making these
stocks, with their high return. more
attractive for investment. Atlantic
Coast Line, Louisville and Nashville
and Southern Railway were all bid up.
Unusually heavy trading took place
in Southern Pacific at an advance of
p point or more. Canadian Pacific
was up more than points from its
recent low Norfolk and Western
was in demand. and Missouri Pacific
preferred rose more than a pointS
In the non-dividend-payin rail sec
ton, the features We're Texas and Pa
Pacific, Rock Island above As, New
Haven Great Western preferred and
Colorado and Southern. The last
named made a new high record, ac-
companying the analysis of earnings,
which shows that this road is making
as much money for its stocks as
Southern Pacific.
Oil Stocks Depressed.
Oil shares were depressed again by
the cut in Pennsylvania Crude amount
ing to 25 cents a barrell. support APP
peared in Independent Oil and Gas as
1t neared 21, but most of these stocks
were off a half point to a point.
A further drop occurred in raw
sugar prices, emphasizing the uncer-
tainty of the outlook in this quarter.
Anaconda Copper selling eX-dividend
of rs cents a share was lower and
so was Kennecott. Active selling was
going on in Ray Consolidated around
-. The copper shares were con.
forming to the unfaVorable trade
news.
Motor stocks, which had been the
favorites on the previous days, ran
into a lot of protit-taking. Motor
parts shares and the rubber and tire
stocks moved with the motors. Good
rich was off over 5 points from where
it was selling just before the Decem-
ber meeting.
Bell Phone Very Strong.
American Telephone and Telegraph,
rejecting investment buying, sold
within a point of its highest of the
year Utah Securities made a new
top as it crossed TO- There has been
considerable selling lately in Ameri-
can Ice by spectators who thought
that the new electrical ice making de-
vice would be a formidable competi-
ton. These shorts have been grad
ually run in, a further advance over
. points occurring in American Ice
shares today. 4 further drop in u. S.
Cast Iron Pipe occurred today, due
to the falling off in earnings.
French Francs Do Better.
The recovery in the French paper
currency and in French mortgage Sc
curities. both public and private, ap-
parently thought a short interest was
covering, because the political develop
ments had not brought about the ex-
pected confusion among holders of
French obligations. Whatever differ
ence of opinion there was regarding
the personnel of the new ministry it
was agreed that the danger of CAPT
tai levy had been removed, and that
the chances favored the restoration of
the financial situation along the lines
most approved, namely, through in
creased taxation.
This was what was shown in the ex-
change market and in the bond mar
ket of the day.
Wall Street Features.
There has been a better market
recently for Virginia Carolina Chem
iCal preferred, as the result of a bet.
ter appreciation of the Improvement
in the company's affairs Virginia
Carolina has sold two unproductive
properties receiving approximately
S10,000,000, it went through re-
organization without an assessment
and is now thought to be on the
way to recovery. After five years of
depression in the fertilizer industry
prices of agricultural products have
risen to a point where the farmers
can pay for their fertilizers.
Willys-Overland common has been
in demand in anticipation of favorable
dividend action at next Tuesdays
meeting of the directorate. There are
over 80 per cent arrears on the pre-
ferred stock, and in view of increased
earnings Wall Street eXpects some
thing will be done about wiping out a
part of these accumuat! ms.
Universal Pipe and Radiator was
adversely affected by 2he movement of
United States Cast I:'on Pipe