The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-01-21
SOME INDUSTRIAL.
FAVORITES FEEL
SELLING EFFECT
BY Associated Press

NEW YORK, Jan. 2u-SeAlnB OIL
the speculative Industrial favorites
by traders who felt that the foreign
situation was too critical for them
to remain on the long side over the
weekend impaired reactionary
trend to most stocks in today's stock
market, although a few specialties,
notably the merchandising shares,
made. some good gains.
The reaction in industrfals was &C.
ccntuated by the heavy liquidation
of the Pan-American issues which
followed announcement of a new $685.
100000 issue of Z per cent preferred
stock and an increase of from $780,,
100000 to S205, 100000 in the B COM
mon. Pan-Ameriean got down be-
low Sc for a net loss of 21s points
and the was off ss on the day. The
other oils also were inclined to ease,
California Petroleum breaking l.
points, and most of the Other active
issues showing fractional declines.
MARYLAND, however, was strong, clos
ing nearly points higher.
United States steel common, Bald
win and Studebaker all closed frac-
tionally lower. most of the selling
representing profit-talSing.
Some Specialties
Among the merchandising special
ties to move to higher ground were
r. H. Macy & Co., which established
a new high at III u and closed a point
below that figure for a net gain of
Ia points.
Thinker Roller Bearing and owens
Bottle, up l and 1 % respectively, each
established new peak prices, buying
being based on reports of exception
ally good current earnings.
One hundred shares of Atlantic Re-
filming sold at s145 each. or SIS above
the previous sale.
There were few conspicuous
spots, notably Pressed Steel Car COM
81 and points respectively. Marine
preferred sold at 1914, its lowest
point since 1921, ra1lying at the close
to 40ss for net loss of rs.
Exchange Yields
Foreign exchanges yielded in re-
Spouse to selling pressure resulting
from the receipt OF disquieting cable
dispatches from Europe. Demand
sterling got back to $4.66 and French
francs broke nearly 20 points to
below $500, as compared with last
weeks high of $500, and the ex-
treme low of 6.17c established last
November. Belgian francs and Italian
lire also were depressed, while Ger
man marks were quoted at .0051c as
compared with .0066 last night and
earlier in the week.
Total sales for the day, 2S8,000
shares.
Twenty industrials averaged 97.s1;
net loss, IA. High 1922, 1O3. 43; low,
rs. So.
Twenty railroads averaged So So;
net gain. .0S. High 1922. s3.s; low,
73.43.
LIVE STOCK
5000; strong to ioc higher; bulk $50 to
l lS pound averages :s.aSogs.ssee; SSoo to
s0ws 1884, hssvy sqss
sS so5 sAs pa eaiasns sS~s
s7;@7.$o: killing pigs. ss9s;s5:
Cattle Receipts SSa 500 compared with Ia
stock 25@75c lower. medium to :. good
beef steers and medium heifers showing
s Sssf oss S yssanss s DsS
Sss So S ,toes.T a0S ssSss
beef steers ss;iS @s.ss; stOckers and
ssnasS; a sssa sast.l she %
sheep: Receipts. 1000. compared with
week ago, fat lambs steady to 1oc
higher; fed yearling wethers and feeders
steady; fat sheep weak to 60c lower;
weeks top fat lambs SIS to packers;
bulk desirable wooded lambs, S14.50@
s14,90; clipped, s12.35Q12.9o: summer
shorn up to $685. choice fed yearling
wethers, S13: heavier kinds. s11.5o@1z.75;
heavy fat ewes. s5@6.50; lighter weights
upward to IS; weeks top feeding lambs.
$l4.75.
EAST ST. louis. ILL.,, Jan. 2o.-Cattle:
Receipts, 500. compared with week ago;
beef steers cows and light vealers steady;
light yearlings. 25c lower; Gamers steady
to 10c lower; bulls and stocker steers,
25c higher; top steers for week, $1,000:
bulk steers. .T.26Q9.25; yearlings. SEQ
$50; cows, s4.25Q $50; Gamers, S2.5o9
2.65 bologna bulls, s4.2505.
top n0; S. b RiePs ss % s0G 81 S Ss1sS hss
$50; leo to s2o pounds, ss5oSS.7sG;' 'S SsS
pounds and up. sS.35 @s.6O; pigs unevenly
higher; packers sows steady, S7.15@725.
Sheep: Receipts. 500 for week; fat
lambs and yearlings Zoe lower; other
classes steady; weeks top, SASS; late
top, 1855; bulk fat wool lambs for week,
$14. 40@14.65; fresh shorn, s1265Qls;
culls, I10@12; yearlings. wethers SETS;
clipped aged wethers. $3.50; fat light
ewes, 0.97.60; medium and heavies,
LONDON MONEY
LONDON, Jan. 20.-Bar silver 80 1-1sd
per ounce. Money. / - per cent Discount
rates short bills per cent: three months