The Birmingham age-herald., 1922-10-14
SPECIAL STOCKS AND RAIL DEMAND
 TOP STOCK LIST
Rr As.ocLated Press

New York, October JS.-Coucen- trated buying of special stocks and & broadening demand for standard railroad, rubber and sugar shares en- abIed stock prices to continue their upward movement today, despite a violent setback in Standard oil of New Jefsey. with 8 net decline Of nearly 10 points.
 Speculative disappointment over the announcement of the directors of the Standard oil of New Jersey that no increased dividends were contem- plated on the new stock when the 400 per cent stock dividend became effective, resulted In a flood of sell ing orders, which carried the stock down to PIG, as against the years high of 2505h. A slight recovery was made later. Other domestic oils re- acted In sympa thy, but Mexican Pc troleum and Pan-American issues were carried to new highs in expee- tation of extra dividend disburse- ments.
 Resumption of dividends on South ern railway preferred stock, which has been suspended year and a half. was indicative of the improved business situation in the cotton belt. That stock gained 2 points while advances of a point or more were registered by Reading, New York Central. Lackawanna and Northern Pacific. Central of New Jersey gained 46
 Rubber Stocks
 Rubber stocks made n quick re- sponse to the announcement of higher prices resulting from the imposition of high export duty by British co lonial authorities. United States Rubber was pushed up 1 points and gains of. to nearly 2is were reg istered by Goodrich, Kelly Spring field and Fisk. Sugar shares moved up in reflection of higher prices, American Cuban Cane preferred and Manati all climbing over a point.
 Equipment shares continue to mount as orders increase. Amer lean Locomotive established A new high at 1S6la and closed at net gain of 3 points, while Baldwin im- proved nearly a point. The rise of more than 5 points in American. Can was attributed to trade improve ment and unconfirmed reports that the stock would soon be placed on a dividend basis. Continental Can improved In sympathy. gaining nearly { points.
 Announcement Of higher prices for news print in Canada proved a bull ish card for International Paper, which advanced nearly point. Ac- tivity in express shares was accom- panied by revived rurnors of mergers and distribution Of surplus. American Express being pushed up more than s points to a new peak price.
 Extra Dividends
 Rumors of extra dividend dis nursements also had favorable ef- fecr on Stakeholder. up IA, and Coca-Cola. up A.
 Sales. 1,116,oo0 shares.
 Call money rates continued to case despite the sharp drop from IT 4 to 75.7 per cent In the federal reserve bank ratio, reflectinE increased de- mand for funds for crop movement purposes. Call money rate opened at hut scftened to 41s before the close. The time money market was quiet and firm, as was that for com mercial paper.
 The feature of the foreign ex- change was the buying of Norwegian crowns. which advanced 44 points. reflecting the award of approxi- mately s19o00.oo0 by The Hague tribunal to the Norwegian govern nent on behalf of ] 5 Norwegian cor poration5 for claims arising from requisitlon of ships by the Tmerg- ency Fleet corporation during the war. Demand sterling improved on the absence of any noticeable offer ing of grain and cotton bills and other rates were irregular