San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1925-11-15
TRAILS AND OILS
FEATURES Of
TRADING.
Last Hour Selling Sends
Industrial List
Lower.
By BROADAN WALL
Financial Editor Universal seryie,


NEW YORK. Nov. Railroads
and oil stocks were bought in heavy
volume in the half session today.
There was a selling movement in the
last hour that caused declines in the
industrial list. but railroads and oil
stocks held up in the face of this re-
action. United States steel was an
early leader. and resisted bear pres
sure right up TO the close, although it
was unable TO hold all the gain record
ed Immediately after the opening.
Some Of the motors also were I'D
versely affected by the selling.
One of the biggest Spectators in
the Metropolitan district made the
statement to the writer that U. s.
steel common was the best buy on
the New York board. He said: Gen
eral Motors distributed S2j, sos, 900 III
dividends this year. but watch U. ).
steel common. This corporation is
one Of the richest in the country. 1t
is very strong in assets and cash and
/ would not be surprised if the U. s.
steel corporation paid more in extra
dividends than General Motors. This
company has an exceedingly large sur
plus, and the government is after cor
porations with very big SURPRISES
There has been very good buying
of Butte and Superior copper. This
company is directed by some of the
high lights in the copper industry.
Butte pays So year in dividends and
is selling around $3.50 share. The
yield to the buyer is approximately
10 per cent. The company has on its
board of directors such men as
Charles HAYDEN of Hayden Stone and
company, lacking, of the Perphry
coppcrs. who believe it should profit
by the European demand for copper
and zinc. German industry, not only
calls for n large quantity of copper,
but along with this it will require
large quantities of zinc.
Texas Pacific coal and oil is re
ported to be negotiating at the present
time for the sale of its real estate
holdings. They own the entire pub
lie utility industries in southern
city. including the street railways, the
electric light and power facilities and
to the company state that aetaoin
considerable real estate.
Much higher price is warranted for
the stock on the basis of earnings
and the prospects for substantial pro-
its on the sale of the real estate
previously mentioned.
New York Central. Chesapeake and
Ohio and Baltimore and Ohio sold at
new high prices. There has been
some buying of Canadian Pacific for
the account of European investors.
They believe that the stock, based on
its yield. is selling too far below the
yield oil other American railway
stocks. Canadian Pacific is bought
not only by American investors but
by foreigners.
General Motors reacted from its
opening price. But insiders such as
W. G. Durant. state that General Mo
tors is entitled to price of at
least S165 share. The returns from
one of its subsidiaries. Delco Light,
which is earning S3.000000 TO So
100000 gross month. will pay more
than half the General Motors divi-
dend. Durant believes that General
Motors will sell very much higher
than its current market price.
Railroad stocks were in good de-
mand throughout the two hour SEES
sion. The roads are getting their big
gcst expense, labor cost, under con
troll. Earnings for the current twelve
months indicate the biggest total for
any year in the history of transpor-
tation.
Mack Trucks was rather quiet. Di-
rectors will meet next week and ia
crease the sc dividend to a so an
nual basis: in addition they will de
clare q stock dividend of 10 per cent.
Mack under the circumstances should
sell much higher. The short interest
in the stock is very large and the
bears will probably take to extensive
covering operations.
Fisher Body directors apparently
are following the trend in General
Motors. The stock of this company
is earning big money and it is Il
mystery to Wall street why it Lays
behind when directors at the next
meeting will vote an extra dividend
which would send the stock to much
higher prices.