Evening star., 1925-06-12
OILS LEAD SHARP
ADVANCE IN STOCKS
Rails, Coppers, Motor and
Public Utilities Extra
Strong-PooIs Active.
BY STUART P. WEST.

Special Dispatch to The Star.
NEW YORK, June 12.-The demand
for the oil shares, carrying some OF
them to their highest prices for the
year, stimulated the entire stock
market today. The list was more ac-
tive and an increasing number of in
dividual issues went forward VlGor-
ously. The motors were strong and
a rally occurred In most of the rails
There was nothing new in the gu
situation When the oil shares were
picked out a week ago for leadership
there was the usual doubt as TO
whether they would prove another
disappointment. But this time II was
pointed out that the market for these
stocks was of a much more substan-
tial sort and was rejecting more
optimistic feeling on the part OF big
representatives of the oil trade than
has existed since the Spring of 1928.
Oils Make Largest Gains.
Texas Co. made q new high above
"a on large turnover. Generai
Petroleum. Phillips and Independent
Oil and Gas also bettered their pre-
yious tons. Tidewater had jump
of nearly points. There were ad-
vances of IL to y points in Houston,
California Petroleum, Atlantic Refin-
ing, Maracaibo and Royal Dutch.
Pure Oil was up nearly a point on
large transactions. Standard of Cal
ifornia gained over a point ana ran
American r over point and half.
Heavy buying occurred in Marland
around and Just above AS, and Mid
Continent Petroleum was up point.
Other Shares at New Tops.
Some 90 stocks made new high
records for the year. Included We're
7,
and 25 per cent paid. American Re
publics, which shot up points to IS
and then came down again with alnoos'
equal velocity; Atlantic, Gulf and West
Indies common and preferred, War0
Baking B. the new Bush Terminal
debentures, Fisk Rubber common and
preferred, International Steel, Gen
eral Railway Signal. which took
spectacular bound; Armour preferred
and Dodge Bros. preferred.
Rail Issues Do Better.
Railway shares as a rule did better.
Operations early in the week had re-
suited in the creation of a fresh short
interest and short covering was a fac
tor in their advance today. st. Louis
San Francisco ran up over points,
and so did Lehigh Valley. Reading
gained a point at one time and B.
u
trail weak the previous day, recoiled
nearly points, and Southern Pacifc
above 80. was almost points from
its recent low.
Fisk Continues Advance.
The advance in Fisk Rubber to 20
was remarkable because of the very
large blocks of the stock which
changed hands on the way up. Other
nd chn
demand, particularly United States
Rubber. and Goodrich. philadelphia
and Reading Coal and Iron had fur
ther gain, and there was reawaken-
ing of interest also in Cuyamel Fruit.
Cast Iron Pipe had one of its Gus
tomary sharp advances, and Uni
versal Pipe was also higher. Quite
jump occurred In Commercial Solv-
ents A and B and Mack Trucks was
strong.
American Republics Wild.
Sharp fluctuations occurred in
American Republics, which has been a
feature among the oil shares in the
recent trading. The stock closed
Thursday at 6S, with net gain Of 10
points. Today it shot forward another
S points and broke with equal vio-
lence when the word was passed that
1t had had too fast a rise.
The unusual activity IN American
Republics has attracted attention, and
it was likely that traders who had
never heard of it until a day or 50
ago were attempting to take a quick
profit. American Republics is a hold
ing company controlling numerous
subsidiaries engaged in nearly every
branch of the oil business.
American and Foreign Power has
been another stock to spring suddenly
into prominence with a sharp advance
to new high prices for 1925. Countries
where fresh industrial developments
have come about are requiring expand
ing power and light facilities, and
American and Foreign Power is show
ing corresponding improvement in
its business.