Evening star. [volume] (Washington, D.C.) 1854-1972, 1926-01-29

INF|NAL TRADING
Railroad and Oil Shares Take
Lead in Lively Last
Hour Market.
BY STUART =. WEST.

Special Dispatch Ia The Star.
MEM YORK. January .9.-Today, 5
market WAS strong and very active
from beginning to end. The buying
movement was broader i'll the sense
that il took III more separate stochs
and groups of stocks than it had on
other days. There was heavy buying
of the railway stocks midway through
the afternoon and into the last hour.
Then there was sudden turn INTO the
oil shares based upon eNpe' tatloiiS ol
a rise in midcontinent crude.
The New York tra"t'un section was
once more very popular ROCKY II
Manhattan Transit made new hiEn
for the year. and Interborpu&h Rapia
Transit at one stage was up nearly
points.
But the more remarkable occur
rences were a further 3-point advance
in Third Avenue, completing a use
of 10 points within the laS- three GAYS.
and an equal rise in Manhattan Hodi-
fled guaranteed and unusual a'tlNltE
at sharply advancing price" III NJ"
York Railways preferred Ceftii;a
The exclamation. based on he change
for the better in political conditions.
hardly seemed sufficient. unies u was
presumed to lead to Sucn | reversal
of policy as would Involve largely III
creased earnings.
Oil Shares More Active.
An incident in the oil share market
was the declaration of an extra dlEl-
demo on Pure Oil OF 12i2 cents Tor
the quarter. If continued this would
mean a So annual basis instead OF
$50. But Pure Oil stock was not
especially responsive. Large blocks
of Marland were taken at 3s ana
above. as against the previous close
of 5S5s. Union Oil of California was
up a fraction. But the main feature
was a lump of over points on Il
big turnover in Sinclair Consolidated.
Violent advances occurred in
shares of companies engaged In 1000
suDplv The big rise in California
Packing and in Postum Cereal &C
companied the report that the lat
ter was seeking control OF the for
lner. New York Gamers, which some
think may come into the consolida-
ton if it goes through. made new
Iigh. There was active buying OF
Corn Products. and Beechnut Pack
ing shot forward. also on merger
rumoT.
Railroad Stocks Climb.
New York Central got above 1870 and
Pennsylvania above 90. The latter stock
had evidently got over whatever dis
appointment there might have been
that the dividend was not raised.
Large buying went on for While
in Missouri. Kansas and Texas issues.
Recent activity in Remington Type
writer and renewed strength III the
stock today continued to attract at
tention. 1t is expected that the COM
pany will soon publish its earnings for
1925, which will show something like
81 a share earned on the common.
All arrears on both the first and sec
ond preferred issue have been cleared
up. which puts the common directly
in line for substantial dividends.
Electric Autolite went into new high
ground for the year, when it crossed
g.. Buying appeared to be based on
expectations of an increase in the
regular dividends. which Is now being
paid at the rate of Sc annually.
Call money went from to Az for
day loans. but this was of no Conse-
uuence. in view of the strong showing
made in the Federal Reserve report.
The increase in the New York Reserve
ratio from Sc to S6.7 per cent is gain
of nearly 10 per cent within the last
month.
MARKET CLOSES STRONG.