The Birmingham age-herald., 1923-03-14
STRIKINGADVANCE
 INV INDUSTRfALS IS FEATURE OF DAY

FEATURE OF DAY
 NEW YORK, March 13 x Higher money rates had a restraining ef- feet on trading in the early part of today's stock market, but anothe- increase in the price of raw sugar gave speculators for the advance fresh courage and they began bid ding up stock in all sections of the list. The most striking advances were made in the industrial group but a number of railroad shares, notably New York Central, which closed ss points higher at aS 9s. also participated extensively in the ad- vance.
 Commission houses reported fur ther Interruptions in traffic to west ern and southern points, but the ma jority of orders which came through these centers were on the buying side. While some enlargement was noted in tho public demand for stocks the principal movements continue to be controlled by professional inter- ests.
 Sales of large quantities of Cuban raw sugar at 5% cents a pound. the highest pficc since 1920. focused spec ulative interest in the sugar group. New high records for the year wera made by Punta Allegro at 64@: Maniti at 75 and Cuban cane pre- ferred at 63, and while some of these prices were shaded at the close, net ranged from to 1 points. Ameri- can Sugar, American Beet. Cuban Cane common and south Porto Rican also were strong, closing l to 3 points higher.
 Equipments Show Strength.
 Equipments showed consistent strength. American Locomotive selling ex-dividend, s5.50, touched l.6SM and closed at 1883 as against yesterdays closing price of 13s Baldwin closed 12s higher at 1.41as. Some of the other strong 1. spots in the industrial group wero Studebaker, Chandler, Mack Truck, Pierce Arrow preferred, Beech Nut, International Cement. Gulf States Steel. National Enameling, General Asphalt and United Fruit, the gains ranging from IA to nearly points, ' The Market street railway preferred and second preferred issued. Piggly 1. Wiggly also dropped points on an nouncement of the stock exchange investigation of that stock.
 Atchison, Baltimore and Ohio, St Paul common, New Orleans. Texas . and Mexico and Union Pacific were the other strong spots in the rail group.
 Call money opened at 5A, ad- vanced to 51z in the late afternoon and thence to 5%4 where it closed. A moderate calling of loans was { reported. A limited amount of time
 
 with bankers quoting , F for all ma sturities.
 The commercial paper market was ]. moderately active, with prime names still commanding per cent. Trading in the foreign exchanges was quiet, with the principal rates holding steady around yesterdays close prices. The -only commercial bills of any volume in the market at present are those against sugar exports.
 Financial.
 Days total sales, S46,0o0.
 Twenty industrials averaged 104.7s; nat gain .57.
 High, 1923, 1o5.23; low 96.96.
 Twenty railroads averaged se.6S; net gain 60.
 High, 1923, 9o.63; low s4.5s.
 LIVE STOCK
 CHICAGO, March 19.-Cattie receipts 1l,0oO; beef steers uneven. slow; generally steady tG E., weak closing weak to lower on weight kind top, $1O, weight 1.1S6 pounds Bulk, ss.4o@9 S5; yarlings scarce, few Sc higher; spots more on beef heifers; numerous lots beef heifers averaging 600 Sg @ sa to ca Ssa SaSsr fyss stockers and feeders firm. bulk SC 50 @s bulk canners and cutters. ss.50Q4.25; bulk eval calves to packers s9@9.5o; shippers Hog receipts. 5000; ioc to 15o higher bulk l5o to 215 pounds average, ss4 45@ ss:5o; late top, s 65; bulk 225 to 300 pound $7 25@7 40: pigs mostly s7Qs; estimated hold dover. 1000.
 sheep receipts 14.Ooo; fat lambs un- choice: handy weight kind offered; bulk 1 wooded lambs s14@14.5o, two loads clip i 913 50; yearlings ana sheep steady: choice | ss pound fed yearings, SIS 40; two loads | mostly Su9 ssed @ wethers eth ashe; So Snd 5S with some 2-year-olds up to S1O 75: feed ing and shearing lambs steady; two car count.
 EAST ST: LOUIS. March 1s.-cattle re- ceipts. 5000; light yearlings, can ners, beef bulls and stockers and feeder strong to shade higher; light veaiers closed at II oil 25c: bulk follow: Steers, :7.s5@s. 25: vearIings, ,se s5@s 50; cows, s4: 05. .25; stockers. ss25@75o.
 Hog receipts. 16,500: active. 5c to 10c | higher; hdiggh top. $50; buiks follow; 1so to s5o pounds SS.4o@S. 4ss; heayies. ss. 25@ sows, 1oc to 15c higher; bulk, $7.25@7.4o. woo shefP sd pad sef9y ST twS gss good sS pound clipped; s9.5o for 10S pounders; few shorn wethers. s7,5o.
 NEW YORK, March 1s.-CattIe receipts, | 500; no trading. Calf receipts. 1.27o; lower; veal, ss.5o9
 sheep receipts. 4,sO0: irregular: sheep. s5 @7.5o; culls, s2 5O@4 6O; lambs, $129 15 50; cuils. S9Ql0.
 Hog receipts: 2,726; steady; medium to light weights, 50 5@9 40; pigs and heavy hogs. ss5oq9i roughs, sz@7 25.
 HORSES AND MULES
 EAST ST. LOUIS. March 13.-Demand unchanged. b;;15-: :TD,s ersntpiecs, 2sjjs, -l
 MONEY MARKET
 NEW YORK. March 13.-csll money strong; high D %, low 5h, ruling rate A, call loans against acceptances. Time loans firm, mixed. collateral 60-90 days. 5L 0 | 5h, 4-6 months, 5lt c 5l9 prime commer cial paper, 5.
 FOREIGN EXCHANGES
 NEW YORK. March 1S,-Foregn ex- changes steady. Quotations in cents Great Britain. demand 4 70 1-16, cables 4.7o 5-1e. 6o-day bills on banks. 4;67%. France, demand (. 03ia, cables 6.04. Italy, 4.77Q4. 77A. Belgium. 5:20h and 5.2l. efsaS ss 5s agd Svt Norway r sweden 26.59. Denmark. l9 09. Switzerland, 1s.64. Spain. 15.41; Greece. Los. Poland.