Evening star., 1925-05-11
SHARP ADVANCES
IN MANY STOCKS
Rubber Issues Are Market
, leaders-Heavy Selling
in Parts of List.
BY STUART =. WEST.
Special Dispatch to The star.

special Dispatch to The star.
NEW YORK. May 11.-In today's
hlghly Irregular movement on the
Stock Exchange there were a series
uons while heavy selling was going
on elsewhere. Railway shares for the
most part sold down and the uSua
industrial leaders were in the back
ground. The SteelS were hanging
fire and the sugars We're slightly
lower Oil shares We're inclined to &C
better. There was an active dema no
for the rubber and tire shares, and
the motors, some of them, made fur
ther gains.
Rubber Stocks Advance.
United States Rubber. on account
of its large ownership of raw material
supplies, is in an exceptionally good
position to benefit by the great rise
in crude rubber. Since the first of
the year the paper profit in conse
quence of this rise is estimated at
more than $4,000 900 At the end OF
the first quarter United States Rubber
WAS said to have had six months
supply of crude on hand, which cost
II on the average only So cents :,
pound, s against todays quotation
of 81 cents. In view of these facts
the strength of the United States Rub
Der stocks today was not surprising
Other rubber stocks We're in demand,
Tor the most part at higher prices.
Among these were Fisk. we'll above
10; Kelly. well above Is, and Good.
rich.
Motor Stocks Active.
The motor stocks were the leaders
at the start, but became more varia-
BILE as the day went on. New high
records for the movement were es-
tablished in the Pierce-Arrows, in the
Willis-Overlands, in Studebaker and
in Hudson. The rise in the Willis
OVerlands was ascribed to intimations
that there would he some announce
ment soon regarding back dividends.
The Pierce Arrows were bought on
the much improved financial position
as indicated by the recent paying off
of 81 900 900 bank loans.
These loans are now down to a
comparatively small total. and clear
ing them up might lead to more con-
sideration of the old preferred stock.
Hupp Motor sold above 10, and Dodge
preference was strong above 1S.
Southern Railway Of.
The railway shares faded away.
The statement made by the president
of the Southern Railway that divi-
cred until the litigation concerning
back dividends on the preferred was
disposed of had chilling effect upon
other members of the group as well.
Southern Railway under 81 was off
nearly points from its high. st.
Louis San Francisco was off points
from its top, and the advance in the
Seaboard Air Lines and st. Louis
Southwestern was similarly checked.
oh
but quickly dropped off. This was
not so much because of the large de-
crease in untitled orders reported at
the close of business Saturday as be-
cause of the uncertainty regarding the
price situation and the caution dis
played by the buyers. Independent
steel shares We're inclined to sag.
Punta Allegro Note Sale.
The sale by a banking syndicate of
s.. 900 900 Punta Allegro Sugar Co. 6
per cent gold notes al 99I4 and inter
est, to yield ga per cent. reawakened
interest in the stock of this company.
The recent low selling prices of Cuban
raw sugar and the decline in the
shares of the producing companies
have left their mark on Punta Allegro
as on other sugar stocks.
The questions most frequently asked
are whether Punta Allegro will main
tain the present s. dividend and if it
is earning enough to pay it. The
proba ability is that so far this year at
least net income available for the
stock is much lower than had been
anticipated by some people.
A brisk run.up in Freeport Texas
was not readily explained. Rumors of
a consolidation of this company with
another sulphur producer were dis
credited. Freeport Texas has been re-
garded as a relatively high-cost pro-
ducer. Lately there have been re-
ports of the company acquiring new
properties, and may explain today's
buying.