Evening star., 1926-01-15
WALL STREET LIST
IS WEAK AT CLOSE
Rallies Prove Feeble and
Quotations End Near Low
est of Session.
EN NTI ART 4. " EST.


NEW YORK. Janua!N ia. fh'
stock market today N''N 'd'h7' In
elr,Il,, weak. There We're some "N'ep
tf.DS among special stocks. but j"l
;ba most part the selling pefNINi""
viii nuly feeble rallies and ih" close
w. around the lowest. [ nIJed Nla' -
St.al ,.unuull hr0i>" thr"HGh l'' III
m. last haif hour and the motor
STOCKS some uf the hi@h,prl'"d ~
dl Sil-i.tI~ and Vari"fI~ ~p"rLliltS @t\'
w. sharply.
Stocks Resist Pressure.
i..,..li, ufility stocks cvinced more
resistance than most other groups
70 ne selling and wor" am"h- me
ff,s.l 10 rebound when the genera
n,arLer permitted Buying "t STANDARD
Gas ,ud Electric dWIuS the last lew
sIay. was ascribed To interests when
had neen successful elsewhere i'll the
7uh,tr utility held. North American
ha. had lot of stock to ans"rp D
,.o, s,, from A special source. hut
1hie absorption has been 50 Wen "otle
,hr; rhe stock has become taNoflte
e,y,rc bull traders There was some
6ar,and for Louisville Gas AT higher
,n.s,.es ON the other hand. prollt
I.l.inc was felt in Columbia Gas and
IN Consolidated Gas
Drive on Steel Common.
More attention was paid o\ thoAt
working for lower prices |" =.
Steel than 10 any other stocks. ne
hea,. reason was that With the offer
20 empIoves at 1876 the good news was
nil out for the time being. Nothing
f,}rher was heard about the rulnor
of an increase in the extra dividend.
The stock dropped below tS4. Wh!ch
meant a decline of over points from
Wednesdays high. republic Iron ana
Steel Bethlehem and truclhle. the
last named ex-dividend. We're all lower.
Among the rails Rock Island STOOD
,,lr- strongly. 1t moved against the
tide. and later NJ. X. & I. was drawn
Flyns. These TWO roads have been
the subject of much speculation as /"
where they would wind up i'll merger
arrangements. NJ X. & T. bought fock
Islands holdings OF st. Louis south
western, so that q union oT NJ N.
& I. and the Cotton Belt line is quite
conceivable.
American SmeltinS sold eN tie quar-
fArly dividend and lost a little ground.
Anaconda was also eN dividend. There
We're special buying movements IN
Howe Sound and i'll Freeport Texas.
ON the other hand, the equipment
shares. most Of them. We're affected by
Tho selling in the general list and :"
y, ere the tobacco stocks.
North American Active.
North American came off from IT,
best level. reached Thursday, when
ether public utilities reacted with the
general market. but turned strong III
later trading. Failure of the stock To
join the upward movement some time
ago. when others Of it's Crop were
enioying much higher prices. Nvas said
10 be due to the fact that 4 large block
held bv an estate had been ONerhanS
ing the market.
1t would appear that these offer
ings now had been pretty well ah-
sorhed Net income last year was
larger by far than that Of any like
period III the companNS history.
North American has d large eNpan-
sion program under way. which is
expected TO materially reduce "per-
ating expenses.
Rock Island went UP when liza rest
OF the list was weak kened. This nigh;
have been pool operation. bus it
seldom happens dat :, stock becomes
suddenly strong in falling market
unless there IS q real desire 10 ac-
cumulate Rock Island sold its hold
ing of St Louis Southwestern to the
NJ. X T. The Interstate Commerce
Commission not approving of the
Rock Islands proposed relations with
the former road.