The Birmingham age-herald., 1923-07-22
LOSSES REGAINED.
 IN LAST MINUTE WAVE OF BUYING

WAVE OF BUYING
 NEW YORK, July 21.--Todays
 stock market gave concrete evidence
 of the changed speculative sentiment
 Prices closed somewhat irregular but
 losses resulting from a wave of short ], selling in the oil stocks generally
 were recovered on last minute buy ing and short covering
 Opening prices were somewhat
 higher than yesterdays closing but
 the advance did not extend to the
 usual leaders, which drifted idly,
 Professional traders concentrated the pressure against the oil shares,
 which drifted sensitive to selling be-
 cause of the recent cuts in crude oil
 prices, and some of the motors &;.a
 equipment declined sharply.
 A strong demand for stocks of the eastern group of railroads, however. r frightened the bear traders and
 turned practically the entire list up-
 ward, with the result that most of '. the early losses were wiped out.
 New York Central closed 6s higher
 and reading was up 12.
 The usual leaders moved in a mar row trading area. United States
 Steel was unchanged on a small turn
 over while Studebaher and American
 Can eased fractionally American Car o preferred was three points higher at
 the close.
 The weekly clearing house state
 ment showed a decrease in loans,
 discounts and investments of 0,69S,-
 coo and a drop of S9,9460o0 in the
 reserve of member banks in the fed
 eral reserve bank. Net demand de-
 posits declined S39,797000 and time reserve totaled S52O.S69, GOO leaving excess reserve of $22,259,250, de-
 cease of s4533,23O, under the pre-
 Vlous week.
 s+ooly. O7e nnO Twenty industrials averaged 91.39
 net loss .33
 High 1923, 1O5.SS; low SEGA
 Twenty rails averaged S0.75, net 2 High 1923, 9O.e8; low 76.S5. - LIVE STOCK
 NEW YORK, July 21.-Cattle: Receipts, . quiet: southern calves, s7alo. .,e sheep and lambs; Receipts, t,sse; ig.
 iambs ,s@iS25: cuils' s7.
 Hogs: Receipts, 1.98o: quiet; medium to hesy weights ss.25 0s.50; pigs. ssss.2s; g .roughs. S6.5o1s.
 8 EAST ST, LOUIS. July s1.-CAttis: Re i; native beef steers and cows 25o to too ' lower: western steers soc lower; light I yeariings and heifers 25c to 7bc lower, ! light vealers. s1 to s1.5o lower; stocker [ steers; tops for week. matured steers and sio.io: heifsss, ,s's6: su,ks for week, ma | tive steers, 3s.5o o@s.s5; cows. s4.so@5.6o; canners. s2.7b@s; bologna bulls, s4:76 6,25. Hogs: Receipts, 5000; active; zoe to soc < higher; top. S7.7o; bulk desirable 1so to | s2o pound averages, s7.eo@7.7e; heavs hogs uneven; s9eO paid for 2so poqnders; ,r ! enough sales to test market; packer sows s 7oc to 16c higher bulk s6s6 a5.se. [ Week ago: Fat lambs 75o to s1 lower; culs I and sheep unchanged: weeks top, s1a.76; { s12a 1923: culis $s,5o@7; fat light ewes, |, s3.5o@6.5o.
 KANSAS CITY, Mo. July 21.-cattie: ! Receipts. 500. Calves, Receipts. 100; to uneveniy lower; in between grades fed steers and grassers 25c to soc lower; better
 grades she stoeh stesSy' % othsr o1assss ss dT shn !! stockers ana feeders closing firm week 7 .Gp.st' .GP matur'd 't'sf'' s'l'S'; ysarlins'' , ,i- Hogs Receipts. $500; strong to 1oc
 nEns ass sf.ds. 3 sd Sd aad ndd sasS.sSS . s,1S: bulk ef sales. s5:s5 @7is5.
 ,l to ,l.5o lewer; weeks top western.
 si4.so: closing top natives. s12;5o;
 gfenss'e TeGss weshers. a ;s.s5: bulk. ;7o7.5s. z stoeksr ewes stronsi natives mostly @@S'
 LOUISVILLE, Ky. July s1.-cattie: Re
 ceipts. 300; closing lower; heavy steers
 $5Qs.75: hsifers. s6@s.75; cows. s2G7; feeders, S607.25: stockers, SS.6097.
 pounds. $40; IsO to 1s5 pounds s7.15;
 pigs. 12o pounds down. @6.S5: throwouts :, sheep: Receipts. 2.sOo: lower; lambs ,12@ i3.5o; choice s1S@1S.6oi sheep,
 CINCINNATI, July 21.-HoEs: Receipts,
 1.5oo; steady to loc and 16G = niEner' hsayy sa ys
 medium. s7,75 @7.SO; pigs and lights
 '';sa Cattle; Receipts. s2.75; slow and steady. s-s,-- Sheep: Receipts, 500; strong. Lambs
 weak and lower, $4@14.
 sa % CHICAGO, July 21-Cattle: Receipts
 l. 900; compared with week ago strictly sstreme top. sll.6O; other grades unevenly 25c to T6c lower; yearlings mostly 09c
 tp s1.25 lower top long yeari,ngsc Hc Id9p: a1,ep spots more. canners showing the least ssdecline: grassy cows and heifers the m9s., 7s,, i.stallls steady to 15c lower; veal calves DC to s1 lower; stockers and feeders 25c flower; weeks bulk prices follow; Beef
 s5es5s s5es5s s.fS; beef beef cows and heifers, s5@ ,sS.sb; canners and cutters, s2.7e@S'oo' 2 Veal calves. slo@1O;75; u.,, a,. rrect; for week almost 25 per cent direct; westerns run considerably smaller; er e9m- { pared week ago desirable fat lambs, S;26 2I' s@1'75 lower: culls and sheep generally ! afsady. feeding lambs 25c lower; closing
 western lambs top s1S.6o; native top s1325: sorting heavy; better grade cuils. 4ss6S5o; bulk fat ewes $5@6.25. E Y Hogs: Receipts, 1000; uneven. mostly ivc tfo 200 higher: spots more; buik desir aoIe @ d 60 to 225 pound averages. S1.boW t'ooi top, ss7.70: few good and choice 24o to SOo < syound butchers. T.S5@76O; bulk paoklns < csews s69625 best strong weight pigs 'lsround s7; estimated hodoyer, 5000; [ ~heavy weight hogs, s6.S6@7.66; mediuin' s660Q7.56; packing sows, smooth so:SO@ $40; packing sows. rough s5.S6@6; kilhhs { pigs s5.s5G7.
 HORSES AND MULES < EAST ST LOUIS, H., July 21.--Horses { and mules steady; quotations unchangeu' ss BUTTER MARKET CHICAGO, July 21-The butter market sbere today continued very firm. Demand ' Twas only fairly active, but reports or Sharp increase in production; together wth M demand for cars of centralized for deliv- ery on July contracts, gave receivers great deal of confidence in the sltuatlon with the results that stocks tho supply . sof which already light, were very tfirrnly held. Many doubted that the firm : condition permanent but wanted 10 ~take advantage of 1t even though tom ssporary. No sales reported below ! She prices here quoted, and quite a mum was true of s3 score and 90 score cars Of ecentraiized. Fresh butter: s2 score Sso' ,sesl score s7c. 90 score sec. se score 35 1ac. . ssss score 34bc S7 score 34c, s6 score 33hc. .sr Centralized lots: 90 score 3Shc, S9 sscore s6c. Ss score 35c.