The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1922-12-19
REACTION SETS IN
THE STOCK LIST ON
BAD MARKET NEWS


NEW YORK. Dec. 1s.-Pricea opened
strong in todays stock market. but de-
cided reaction set In later on announce
mcnts of the failure OK a large south
western stock exchange firm and a cut
in the Great Northern preferred dividend
instead of per cent rate whleh haq
been paid without interruption since 1879
There were exceptions to the downWaro
trend, but the declines Ia standard issues
ranged from ! to- points
An unusual volume of fowe-prtced
stocks were thrown the market after
the failure, several thousand shares being
for the account OF the insolvent firm
They Included blocks OF Sinclair. Skelley
Afarland, Phillips Petroleum, lnvincible
OIL and Texas company nearly 100000
shares Of these companies changing hanus
during the day. ExceH for a drop o,
"a in Marlnnd and l In SKeicy, the nov
Great Northcrss Falls
Great Northern preferred fell TO ~ n
the dividend action. Other rails declined
in sympathy. losses Of 20 points being
Union Pacific. Atlantic Coast Line. Rock
Island. Norfolk and western Frisco AND
others. Louisville and Nashville broke
Fisher Body touched 215, another new
top in tho early dealings but dropped
New high records for the year also We're
established by Westinghouse Air
Brake. stewart Warner pa speed eandsr
Union Tank and stromberg Carburetor
the last named falling " points below
Saturdays close in later oesii ss,. sop e
selling pressure fresh buying being IN
fluenced by the higher prices quoted foi
copper and speculative anticipation INA
a few more issues would be put on diYi-
dend basis within tho next Few months
General Electric was an outstanding In
dividual strong spot, closing AT MOI 1ai
of more than 4 points.
u. 5. Steel Common
United States Steel common was AGAIN
the most active stock on the DIG
board" more than 100000 shares chsng
ing hands at prices ranging if9 rem. 10 10 =
resenting n net loss of u. CUR states
ana Bethelehem b dropped point each
Baldwin. which touched l2s before noon.
close Studebaker was off u on the DAY
Marine preferred had another hinSins
smell on a revival of unconfirmed report
that the dividend was in DANGER the ne'
loss being "a points. - ~
pcr cent and advanced to before .he
close The time money MARKET was
slirhtlv easier few 90 and 30-day loans
ueing arranged at " per cent, with most
~ the S0-day business being done on q
"a. per cent basis. and the lonBer iaa s
TURTLES at per cent; commerclhi pApea
trading continued quiet, with no change
:" Foreign exchanges were weak, on pub
lication of European qlspaten IN. tbae noss,9
bility of an international loan pelhs
raised for Germany at TINS uns; "a
mand sterling dropped cent 70 4'of' ~ on
Isrench francs fell nearly so points TO I.sS.
The German mark dropped from l.st "
1.h2 cents a hundred. on. p
DAYS total sales. 100000 shares.
twenty industrials averaged s7.esl net ne
loss. Ate. High 1922 los.44; a9w: ao, nst
Twenty railroads average bS'fzs not
loss, .95 High. 1922. 1898; low, 1913.
LIVE STOCK
CHICAGO Dec. 1S.--Cattie: heceipts.
strong to 100 hfEnefs
tons IN 95e on better grades beef steers
and desirable beef heifers weak,
Top matnred steers ...,''.'S i dep
best yearlings .......-...... 4e.se ass
13ulk native beef steers S26W sIe
Bulk desirable veal calves to
packers .........s. s.: :..... Wv
nealrable heavy bologna bulls 1850 ass
Buik beef. cows and he!fers.. 4.2b@ 6.Io
Bulk stoekers and feeders. 6.oe@ SD
Hogs: Receipts 10000; Is to zoe
i,uil, 30 to 275-ib. butchers. S s.1s@ SIS
Bulk $40 to 9s9-lb. average. s.zeV SOW
Ton ....s...... 5.'5..s.......'.. 100
Packing sews .+..-.-..s.....t. a.soW 800
shsep: Receipts 10000; fat lambs 70
Top. to city butchers, ,sls.ss
RuliS Fat wooded lambs. 19,b011e.oo
Freshly clipped fed lambs. 1878
Fail shorn kind ............. 13.00W l3.oo
Best feeder lambs ........... 1s.e5
Feeder ewes ....,...=....... p.pV :.
Sheep, heavy fat ewes ........ h.OV@ wv
For some averaging 1853 lbs. o2b
Lighter weights up tome. 10
Desirable aged wethers $40
EAST ST. LOUIS, H.. Dec. 1s.-Hogs
Receipts, 1000; active. lie to. zoe higher
Top OBSERVATION-DISCLOSURES, BOO
Bulk 1870 to 1s0-lb. average. s1bW s'so
$50 pounds and up .......... S.1bW s.2s
Few light weights steady. S.09W MI
I,,:iix ................ 1850 500
Packer sows .........-.-.... tug az
Sheep Receipts. 1900; few lambs
steady to 25c higher to butchers; packer
market ii to 25e lower.
Top, to butchers .S1b..b
no packers .....s..s......... 1910
p,IIlx fat lambs .... 14.6O916.oC
ruIIs lO.OOdp11. 90
Native ewes higher ..... 6.sO1 6,75
Heavies ......s.....s.. 1850
Cattle: Receipts. 5000
Beef steers ......-.s.. ..... - f.169 s.bo
Few early sales Gamers .... 2.25d 2.4C
Light vealers .... 5000 $50
Beef COWS. largely .......... 5000 b.2b
Bologna bulls ........... 1000 4.5o