The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-12-28
STOCKS AT CLOSE
OF SESSION ARE
VERY IRREGULAR


NEW YORK, Dec. 27-Specu1ators
tinue marking up stocks in today's
market, but they ran into heavy profit
taking and short selling with the re-
suit that the close was decidedly ir-
reguhr.
Baldwin was pushed UP AS points
to 1391a, the highest price of the year,
and American Locomotive advanced 3
points in sympathy, but few of the
othe., standard industrials made much
Roadway. Strength of Baldwin re-
suited in revival of reports regard
ing the possibility of an extra or
stock dividend disbursement, but in
view of the official denial of similar
reports a few weeks ago these We're
not taken seriously.
While stock sales crossed the mil
lon-share mark, chief interest in the
financial markets was conferred on
the further rise in cotton prices, new
high records for the year being estab-
1ished by all months, bringing the
price of raw product to approximate
~ $3.50 a bale above the quotation
prevailing a few weeks ago. Prices
reacted later on profit taking.
There was continued lack OF
speculative interest in railroad
shares with reactions in the stocks of
roads, showing poor November earn
ings Statements.
Lackawanna dropped to 1875 today,
but rallied to 127, where it was off
1A. Norfolk and Western, which re-
ported a deficit of $171,0o in net in
come in November as against an In
crease of S1,415,000 in the same month
last year, dropped to 110h for a net
loss of l x points.
New York Central
Natv Work. Central system
showed an increase of s7,366,000 in
gross last month over November, 1921,
but a decrease of s32s,00o in net. The
Southern Pacific system showed an
increase of $2,160,000 in gross and an
increase of s2,27S.000 in net, and the
Union Pacific system an increase of
sf,373,00 in gross and an increase of
S1S19000 in net Generally, the No
yember showing is considered salts
factory.
Some of the outstanding strong
spots were Fisher Body, American
Bosch Magnetic. American Sugar,
Eastman Kodak, International Nickel
preferred, Producers and Refiners,
Kresge, Pierce Oil preferred and
Piggy Wiggly, the last named at
new top, the gains ranging from TO
Az points, and Dupont Powder
up 9ss.
Stromberg Carburetor established a
new high at 70, dropped to 66ss on
profit taking and short selling ana
rallied to 67sa, where it was off 3 Il
on the day.
= Stewart Warner Speedometer also
touched a new top at II, but was off
fractionally at its final price of 1855.
Marked heaviness also was noted In
General Electric. General Asphalt pre-
ferred, Lorillard Tobacco and Chicago
Pneumatic Tool off to 4 points, and
Mexican Petroleum off 3. Marine pre-
ferred dropped below 43 for another
new low record, but rallied to 43&
at the close.
Call Money Firm
Call money was firm, opening at 5
per cent and advancing to 61a. But
time money and commercial paper
markets were dull with no change in
rates.
Foreign exchanges reacted slightly
on a large volume of business. Late
business in demand sterling was done
at s4.64ss or Il below last night,
while French francs dropped 1914
points to 7.19c. German marks
dred in reflection of the reparations
commission declaring Germany in de-
fault in her wood deliveries to
France. The Canadian dollar was at a
discount of lie.
Days total sales. 1,o36,3oo shares.
Twenty industrials averaged 9s.22;
net gain, rs. High 1929, 1884; low,
rs. SO.
Twenty railroads averaged IS. IS;
net loss. al. High 1922, $500; low,
73.43.
CHICAGO STOCKS
CHICAGO, Dec 2T.-Armour preferred.
1905 Armour Leather 9%; Commonwealth
Edison. 1870; Diamond Match. 117ls: Libby
Mcneil q Middlewe est, Utilities a.; IA e
Swift International, 1914; Union Carbide.
6sA; United Light & Railway. 7o&; wahl.
6a; Western Knitting, s. Yellow Manu-
featuring b. 223; Yellow Taxi. 73h.
LIVE STOCK
CHICAGO, Dec. 27.-Cattle: Receipts,
$4,000: beef steers slow. generally Is to
25c lower. killing quality plain.
Top matnred steers .;.,, - .sIa.a 10
Bulk native beef steers. $3.50 $50
Several strings short fed ma
Hogs s'se Receipts $4,000. fairly '' sct I've:
unevenly strong to 10c higher.
Bulk lighter weights and
One load choice 2so-ib. butch wv
ers late .............. $40
Packing sows :.......... 1860 500
Pigs slow; some selling under 500
sheep: Receipts, 1900; fat wooded
lambs steady to csc lower
Clipped lambs. top to ship
pers ............. ........ 1880
To packers ........... 1925
lambs ..................... 1sooo1s.1s
summer clipped kind up to-. 400
Choice 9o-lb. fed yearling
wethers .................. 1918
Heavier kind .....,.....,... 11.5oQ12.60
Two loads desirable 55-lb.
feeding lambs ............ 1865
EAST ST. LOUIS, Dec. 27.-sheep: Re-
ceipts. 1000; opened strong to Csc higher
fat lambs; closed with advance lost
later markets steady.