The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-12-07
RAILROAD SHARES
SHOW WEAKNESS
IN EARLY TRADING


New York. December Ga sharp re-
bound in stock prices took place IN today's
late dealings after an extremely dull
morning session during which rail shares
were conspicuously weak.
Publication of Secretary MELONS annual
report indicating that no new federal taxes
were contemplated for next year was the
signal for brisk rally. which was given
considerable impetus by the hurried COW
ering of shorts who discovered that their
efforts to depress prices during the last
few days had brought out comparatively
little new stock.
terest had been built up yesterday follow
ing announcement of the rs per cent stock
dividend, was the market leader. crossing
1sl for a net gain of 5& points. other
motors improved in sympathy. Hudson
and Hupp establishing new peak prices
for the year. but yielding later on profit
taking.
Other Gains
Other outstanding gains in tho industrial
Mexican Petroleum Houston OIL, Pan
American A and b. and Western Union,
In addition to The oils mentioned gains
of u to nearly ; u points We're made by
General Asphalt and Standard Oils of Cali
Railroad shares recovered somewhat
from their early weakness but Jagged Tar
behind the industrials on the upward
dropped az Yesterday recovered ~ today
but except for gains of one. point in Read
ing, III in Northern Pacific, and u in
Canadian Pacific. other net changes were
of a fractional character with number
Of issues closing slightly below tuesdays
u. s. Steel common was sluggish but tho
buying movement Of the last hour pushed
ii up to 1o2A for net gain of u. Bethle-
hem b. touched 62h again for net gain
of IA. and Crucible advanced q to "a.
after having fallen to CO.'S. Baldwin also
made quick recovery, moving within
sM. Coppers which showed moderately
strong early, fell back. net changes gen
orally being unimportant,
Sterling exchange gave another remark
able demon stration OF strength in todays
market. touching $4.b6h or cents
above yesterday close ana me nntc h,sn an1
Norwegian exchanges also established peak
prices at $500 tand 1890 respectively,
while Calcutta was quoted at sSoe. also
the years best price. French and Italian
exchanges improved slightly and south
American rates continued strong. The
German mark stall sold at Il cents a
hundred, despite unprecedented weekly
Increase of 110,soo,o00 marks In circula-
CAN money opened at per cent and
then advanced to ~ per cent. lime lime
unchanged with the volume OF business
s'' DAYS 81 total sales sss. 900 shares.
Twenty industrials averaged so.fsi net
gain 2.75, High. 1922, 1OS4s; low s7s;es;,
Twenty railroads averaged S4.hli net
gain 20. High. 1922 1898; low tS'fs.
LIVE STOCK
Chicago. December Seattle; Fecelpts.
/ 2 900: beef steers active, generally strong
TO csc higher; killing quality plain; top
matured steers and yearlings, sls.
Bulk native beef steers ......S s'zoWi V'oo
Bulk desirable veal calves to
packers .......,........... s.zoW s.Io
Several lots upward to........ 1000
RuIk desirable bologna bulls. 400 4.s5
Bulk stoekers and feea ,e SSoSSS s AKA
Hogs: Receipts. $4,000; steady and I'M
Bulk 1870 to aso-ib. averages. $3.50 SIS
Bulk 40 to 170-ib. averages. sloQ s.l6
Packing sows '...'...... s.So% A0V
De shaan pigs Rsc.,nt, $4,000; choice o fat
lambs strong to shade higher; in-betwsen
grades weak to 15c lower; top, $3.50 on
shipping account.
Bulk Fat wooded lambs. sit9SSis25
I Desirable fail clipped fed
lambs averaging so ibs..,... 1915
Fed Ss-lb. yearling wethers.. 1915
About 400 averaging 100 lbs. 1925
Heavy fat ewes ......-.-.... o.Opw c.ou
Lighter weights up to........ 7.oo
sheep: Receipts. 1000; steady on sheep
and lambs.
Top lambs ..................si 1ss
Bulk ...................... is.bo
,Culls ................. -.... l0.UuWi1-oo
Fat light ewes .............s $50
s Cattle: Receipts. a.ccci beef steers,
light yearlings and stock steers steady to
strong; top vealers sli: now bidding
lower.
Light yearings ............. 5000 $50
Cows. mostly ..............- $3.50 4.76
Gamers -..'.......'.'.'''.- a.zS~ ESQ
rev at .-..........s S.fu
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