The Birmingham age-herald., 1922-08-31
RISE IN STOCK LIST CONTINUES M OST OF TRADING HOURS.
By Associated Press

New York, August 30.-Active and widespread public participation, ap- parently induced by market improve nents in the industrial and railroad strike situation, was largely respon- sible for the continued rise of pric ss in todays stock market
 Floor traders and speculators were inclined to be bearish but the flood of outside buying orders scared many shorts into covering, which ac- celerated the advance. Nearly two score Issues established new peak prices for the year.
 Reports of increased car loadings, indications that bituminous coal pro- Auction was nearing normal and expectation of unprecedented freight traffic this fall made broad ir- ouiry for the standard rails. Ca madam Pacific was strong, advancing 2H points, with gains of a point or more recorded by Atlantic Coast Line, Chicago and Northwestern, lllt- nois Central. Louisville and Nash ville. New Haven, Reading second preferred and Frisco preferred.
 Chicago and Alton issues were un- der heavy pressure because of dis quieting reports concerning impenn- ing reorganization. The commcn dropped 1y8 pOluts anu Nho N> 3M, Renewed hopes for an early settlement of the anthracite strike also imparted buoyancy to the shares of hard coal carriers, especially Lackawanna and Lehigh Valley.
 Independent Steels
 Independent steels also suffered severe setback upon circulation or reports that the federal trade commits sion was about to render an unfayor- able decision on the two pending Independent mergers but later Wasa- ington advices indicated tha. no complaints had been filed against the proposed Midvale Inland - Republic combination. Republic Steel closed with a net loss of 3 b points, Lacka- wanna was off a point and Midvaie hs. United States Steel closed frac- tfonally higher on fairly extensive turnover. Sales managers of the steel corporation are now in session here and Wall street expects an an nouncement of higher prices on tae return to this city next week or Ebert II. Gary, chairman or the board
 Public Utilities issues continue to be active participants in the upward swing of prices. Several high rec ords for the year were made in this prcup. notably by Detroit Edison. Brooklyn Union Gas. Columbia Gas. American Telephone, Paciflc das' Montana Power and Mackay com pany.
 Extra Dividend
 Endicott- Johnston advanced nearsy 2 points today in expectation or extra dividends when the directors meet on Thursday. Postum Cereal established a new high price for the year on reports of increased earnings.
 Total sales approximated sS7'ooo shares.
 Call money opened and renewed lat 3% per cent but hardened to land 4Is in response to demand 10 first of the month requirement., 3outside" call money was quoted as high as 5 per cent. Time money rates continued unchanged with lit tie business. Foreign exchange rates opened weak as the result of unsettlement Sn foreign centers but steadied Tn later trading. There was sharp break on German marks In cary trailing but they recovered later. De- ngnd sterling sold nearly cents Mellow yesterdays rate while other allied rates showed fractional improvement. Canadian exchar ge touched par today for the flrst tlme since August, 19l5.