The Birmingham age-herald., 1922-12-17
INDUSTRIAL GROUP SHOWS NEW LIFE ON DIVIDEND NEWS.
Rr Ansnciated Press


 NEW YORK. Dec 16.-Announcemen Of additional stock and extra dtpidends provided the impetus for brisk sdVahee ket today. Railroad shares. with few ex- captions were sluggish.
 There unusually heavy trading m Pan-Ameriean stocks, Overnight an- ununcernent of a stock dividend of 20 per cent in addition to the one of 25 per cent declared few weeks ago brought in a flood of buying orders at the be ginning, including large sales by short in- terests. Large transactions of the stock were Jumped on the ticker as 2V,uee shares at 30 to s6E compared with last nights close 79's. Later the x stoek ssz got up to ssA but fell back 3 points for . net gain of 5ss The A stock regis tered a net gain of 5 points Mexican Petroleum. nearly all the stock of which is owned by Pan-American. was inactive despite an ipcrease in the regular dlvi- dend, there being only three sales with the closing price 2h points above yes
 Air Brake Advance
 Westinghouse Air Brake advanced bA points to new high record in reflection Of increase of from $lQ17S in the 36 per cent stock dividend. Fisher Body, which mas been making new high records almost daily for the lpast fortnight, crossed 2I1 today for net gain of more than points
 unconfirmed reports Of extrs. dividend next. year continued to stimulate buying in that group, United States Steel com mon touching 10s and then welding were pushed up 1% and Bethlehem and Crucible improved frsetionally. =# Speculative expectation that the pro Increase conner exports to that country combined with a higher price for the red metal brought further activity at rising prices in that group, while motor stocks were pushed up in anticipation of heavily increased sales next year.
 c. & o. to Higher Ground
 Chesapeake & Ohio continued to move to higher ground in reflection of it's proposed purchase by the Van sweringen interests, but most of the standard rails were reaetionary Losses, however, ro,'Tes were nent of a cut of cents gallon in the prices of gasoline and naphtha in New Eng Standard on shares listed on the ,,big sssy oa Gsna fgG sToppHs esss1 snd New stock closed unchanged at Ssh.
 Chief interest in the foreign exchange quoted at 1e7c hundred. as compared with 1.46c yesterday. Other European The clearing house statement showed an increase of s9s,425.ooo in loans, discounts ono in reserve of member banks in the federal reserve And STA, ,5o4 900 In net de. ena SJ asgosfs Esessa tNtss bringing the aggregate reserve to S557,- Days total sales 4s.,ooo shares.
 Twenty. fndustrials averaged ss.1s, net gain ,ls. High, 1922. 1os, low, 7sSe
 
 22 High 1922, ss.s9; low, 7s.4s.
 LIVE STOCK
 a,0o0 steady; bulk 20 to s2O- pound butchers, sS@s.o5; bulk 14O to 1so-pound. sSssSsS sSsSSs {Rp desraSe S piPs ss@sso sGHs heavy hogs, s7:9o@s.o5; medium, $sQs.1o; pseRns ssso seas smooh sh' sns gousS s715@75o: killing pigs: ssQs.2o.
 Cattle; Receipts 800; compared week top Christmas yearlngs, $14; best tnred steers. s1s; better grades of butcher cows and hefers. canners. cutters. bulls and veal calves steady; stockers and beef steers. s8@9.Go; stoclxers and feed s.so; eannef. and cutters, ss.75 s.sS; sheep; Receipts, 1000; compared week ago choice fat lambs of desirable weight iieher weights weak to unevenly lower fed yearling wethers. 50@75c lower; fat sheep fully steady: feeders, strong to 25c closing top, sl5.5o to. clry butchers. sl5: 40 Pssdk,eHTso bul Innaa of fat wo0Isd smss sfs choice se-pound fed yeariing wethers sls.ko: heavy fat ewes. ss@s; lighter pound aged wethers. ss.25@s.5o. EAST ST. LOUIS. H.. Dec. 1s-cattie: Receipts, 1000; compared with week ago. choice steers. light yearlings. canners and stoeker steers steady; medium and good and light vealers 26c higher; top steers for week, s1S,75; bulk for week steers. s4@5a5; eanners. s2.S59250; bologna Hogs: Receipts 11.ooo; 15@2oc lower; top, ss.15; bulk 110 to 1sO pounds. ss.05@ s.i5; pigs. sSGs.15; packer sows. q.
 COFFEE
 NEW YORK, Dec. 1s.-coffee futures showed continued steadiness today. prob of general European conditions, the re- cent comparatively steady ruling of Brazil and reports of firlnnsss in the spot mar net unchanged to ooo E points higher Esti- 9,loc; July. e.o7c; September, sssc.' Con. Con. tracts for delivery next December were s7s. 11Aci Santos 4s. 15@15%c; no fresh reports were reported in the cost and The official cables reported no changes was unchanged to es reis lower and zilianT port receipts. 4s.ooo;- Jundiahy re- ceipts. 22.0oo.
 COTTON SEED OIL
 NEW YORK, Dec; 16-Cotton seed oil ssners Sgs Ssns TSe ea' ssn reis refined oil duFing November, sbiUuo Sss. %a. prime summer yellow. spot, ssoc bid: December, 9,soc; March. s.sec; May 10.13c, all bid.
 FOREIGN EXCHANGE
 NEW YORK. Dec. 1s.-ForeiRn ex- changes firm. Quotations: Great Britain, demand ds,,a nd 4.s5c; esbles, 4ssAc;. so-day 7.s2hcs cables. 7.ss,sc. Italy. 5.ioc and b.11c. Belgium. 7.o2izc and 7osc. Ger many :o1s7c and o1ssc. Holland. 4oc s9d aaaoo 40-o1e, psn M9rway ds.oSs; Sweden. Poland, .o066c. Czechoslovakia, 2esc. Argentine, ss06c. Brazil, 122oc. Mon treal.. go s-16c.
 CHICAGO STOCKS
 CHICAGO, Dec: 1s.-Armour preferred, s9; Armour Leather, eE; Commonwealth Edison. 1s7h; Libby McNeil, eI; Middle West Utilities, 47is:. National Leather. tional. 1o4Aa; Upion Carbide. esh United Light and Rye. 71&: wahl bs; Western Knitting. sss Yellow Manufacturing. 8; Yellow Taxi. 72h Inland Steel. 42h.
 NAVAL STORES
 steady ssd sales ne' ioo spfpensi1e receptI shipments es7; stock. 24.41o Rosin firm; s.iss; I stock. 1io oo6' ouote t R. s1p1pmsnis' D c. H. l. s4so: K, s5.07is; M. s5'so: N s5.so; WIG. ss.s5; wv, ss-55.
 RAW SILK
 NEW YORK. Dec. 16.-Raw silk steady. price per pound. Kansai double extra cracks. sss5@s45, Kansai best No i, ss.15@s.2o: Kansai No. 1 i'll, ss.1o@s20: shinshu No ! ssgs.15; Canton extras. steam fl gold double deer. ss.so@sso.
 ~