The Birmingham age-herald., 1923-04-15
MAIN PRICE TREND UPWARD DURING B RIFF SESSION

B RI E r SESSION
 NEW YORK, April 14.-Revwal of speculative interest in the rail shares was the outstanding feature of today's brief session of the stock market, the main price trend of which was upward. Short covering fur nished the impetus for most of the ad- vance but speculative pools also were active in a few speeialties.
 While market observers disagree as to the next course of prices, it is generally conceded that the recent reaction which resulted in a substan- tial increase in the short interest has improved the technical structure of the market and placed it in better position to respond to favorable news developments. There were no outside developments today to materially in- fluence the course of prices, but con siderable interest was manifested in the course of prices but considerable interest was manifested in the March cotton consumption figures showing a total in the United States of 623,00o bales against 567,00O in February and 51S,450 in March. 1922, and in the weekly mercantile reports which in dicated cautionary attitude on tho part of buyers.
 Buying Of Rails.
 Buying of the rails was based on reports circulated in the financial dis trict that a number of the principal ;. Railroad systems had earned two to four and one half times their fixed charges in the last three months. Gains of i to 2 points were registered by Union Pacific, Baltimore and Ohio, Atlantic Coast Line, Atchison prefer red, Canadian Pacific, St. Paul pre- ferred, Great Northern preferred. Louisville, Lehigh Valley. Norfolk and Western Pittsburgh and West Virginia, Texas and Pacific, Wabash preferred and Western Maryland second preferred.
 In the industrial list the demand was most effective in the oil. can and some of the ind pendent steel shares some of the strong spots being the Pan American isues. Pacific Oil Houston California Petroleum prefer- Ted American Can, Continental Can. Crucible and Sloas- Sheffield all up l to nearly points. Marland Oil closed point lower at 51 after haveing dropped to SO Maxine preferred drop ped to 35, new low record for the year, and then rallied to 37 IA, where it was up 1 for the day.
 Slightly lower rates were estab- lished in the quite trade in foreign exchanges Demand sterling ceased off to s4s5 and French francs dropped a few points to 665 cents Canadian dollars sold at discount of 3-16 a new low for the week Days total sales 351000 shares Twenty industrials averaged 102.0s; net gain .2S.
 High 1923, 1o5.3s:.Iow 96s6
 Twenty railroads averaged s7.23; net gain .s9. High 1923. soAs; low s453. LIVE STOCK
 CHICAGO. April 14.-Hogs. receipts Fridays average; top. ss45; bulk 1so to 210-pound averages. SS-35Q8.4s: bulk 24o . to ss5c pound butchers, .s@s,so; packing pigs about steady; bulk desirable 100 to E 13o-pound weights. s7 a 7.5o: plainer kinds ! heavyweight hogs. s7.s5qs.3o:' medium, ss1o@s.45; light lights. s7@s.40, packing < rough. ss.75@7; killing pigs s656@7.75. | Cattle, receipts. 1000; compared with . week ago: Beef steers and yearings 35c to s60c lower in between grades showing most decline; extreme top madured steers, i. s1o:25: part load. s1o.S5: best long yeari- i. good to choice light heifers showing less decline; bulls and stockers and feeders weak to 25c lower; vealers largely sl5o steers. ss.1O@9.5o: stockers and feeders $s.75d7.75; beef cows and heifers s6.5o veaieTs. @ ,ie1 s7.s5as.5c. 7.5eI ana cutters '''1'~
 Sheep receipts. 5000: run includes about 5000 direct to packers and IT cars de livered in error: later held for Mondays market; compared week ago choice handy weight wooded lambs and in n-between grades clipped lambs t5c to 25c lower; other grades steady to strong; yearing wethers nomnally steady; sheep steady to shade higher: weeks extreme top old crop lambs, sl4.60; bulk, s14h14.60; heavies 7 largely s13 clipped lambs mostly s1o6o d11.50; few loads up to SIP; extreme weight shorn kinds ss15Gs75; some to tn "a spring lambs, si0.T5 with 20 10 26 per cent sorts at sl26O 12.75; best wooded Iy; aged wethers, ss@a $50 in fleece shorn descriptions mostly ss9s.75.
 KANSAS CITY. April 14-cat,le re ceipts i75; for week. Beef steers weak to 35c lower; top. sa.5o; yearlings 25c to 50c lower: heifers mostly 25c lower; cows steady; bulls steady to weak; veal calves BOG lower common light kinds off more; heavy and medium weight calves boc lower; stock calves and stock cows and heifers mostly steady.
 Hogs. receipts. 5000; steady 10 SC higher than yesterdays packer market; bulk de sirabe 1s0 to 300 pound averages. sS.10T s.15: top. SEQ; bulk Of sales sS.05 d s-2o; packing steady; bulk. s7lom 7.l5.
 Sheen no receipts: for week wooded and spring lambs t5c to 95c lower; ton wooded. s14s5 bulk desirable weight lots. sl3So lambs strong; top, st1 co; h1lk s1o.756 1l.6O; sheep 15c to 25c higher; shorn wethers. ss.1 s.25; top woo%d ewes, ss.
 EAST ST. LOUIS III. April 14.-cattle. receipts 900; compared with week ago. steers 25c lower; light yearlngs 25c to koc lower: COWS cannrrs and stocfers steers steady: bulls 15c to 25c lower; light vealers, s1.75@ 2 lower: tops for week steers, s9.5o; vesrlings ss5: bulks for week. steers s7.1o@S75; yearlings' s2S5@S; bologna bulls. s4.5O@5.
 Hogs receipts. 5000; acrive on hogs under 21o pounds: mostly 1oc higher; bulk. ss.s5; top. ss.s5 medium weight and heavy butchers 10c to 15c lower; bulk PRO to 25O pounds sS.1ods.4oc not enough pigs here to test market; packer sows
 Sheen receipts ono: for week Wool lambs 25c to 4oe lower, clipped lambs and Wool lambs s1s.SoQl4.5o: quality medium to good: clipped lambs. 70 10 S2 pounds, t11.s5 e 11.ao; two decks 9l pound clipped s1o25: spring lambs. s15@ 155o fat clip ped ewes. s725d7 7.5o wool ewes. ssas.5o.
 LOUISVILLE. Ky. April 1!.-cattle, re ssGs75: beef steers. s5@s.e5 heifers, sl.5oaS.a5: cows s2a $50. feeders, ssm 7.26: stockers. s3.5o @6.25.
 Hogs receipts, 1.7oo; 5c 10 1oc higher: 1sS pounds up sS.40: 12n to 1s5 pounds, s755; an to l2O pounds, s6.6b; 90 pounds down. s5 throwouts SC 50 down,
 Sheep receipts. 900; steady, fall lam bs. si3; sheep. ss down.
 CINCINNATI. April 14.--HoFs rece,pts:; 200. active, asc higher heayes, HTs @s: packers and butchers '9 heavy fat sows. ssa7: pigs and lights, ss8s5o,
 Cattle. receipts. 25o; steady. Calves steady.
 NEW YORK. April 14.-cattle. receipts, 5s0: no trading. Calves. receints, too steady; veals. s5.50 M II; culls, stp5' htte calves s3.5oa4.
 Sheep and lambs receipts 3.sso; non. on sale. Eve sheep aunshorn,. are quofsen ss