The Birmingham age-herald., 1923-03-17
INTERRUPTION OF !. TRAFFIC BY WIRE. 1. RESULTS IN DROP

sfa NEW YORK, March 16---The bears successfully ttacked the general list in todays stock market. bu. net losses in most of the popular shares were held to flactions. Interruption in wire traffic to western points, which have been supporting the mar ket with buying orders anu the usual week and profit taking aided the bear operations
 The initial attack was centered on the Mexican Oil issues rn the overnight announcement of the chair j. man of the Standard Oil company l of New York, that American com ,panies operating in Mexico were des-
 tined to lose half of their S500,0o0,- 900 investment there, Pan American
 4 and dropped to 1912 and 73A. respectively, but recovered to S0$4 and 74is, where they were off 1a4 and 1ss on the day. Virtually all the other oils also lost ground, al- though Mexican Petroleum ordinari- 1ly inactive jumped Is points on a Turnover of 300 shares.
 Lima Locomotive and Air Reduc- I ton established new high records for the year at 72Ss and 70, respectively, aibut the former reacted at the close -.sto n l., up l., with the latter re- 7, raining it's 21a point gain. United Y States Industrial Alcohol touched
 13A. a new top, dropped to Il and r. .hen rallied to T B off $. Simmons eompany advanced nearly 7 points to 34, also a new neak price. on re- ports that sales SO far this year are nearly II per cent over those of the corresponding quarter last year.
 Fractional Loss.
 U. $. Steel, Baldwin and Studebaker . again showed fractional losses. A bad break i'll Piggly Wiggly just before the close sent that stock down nearly II points to 65A Further weakness in Louisville ard Nashville, which closed 21a points .ower and Atlantic Coast Line, off ] x. featured the railroad group, which was again reactionary. Call money opened at per cent but dropped to 412 at noon. Only
 d moderate amount of time money
 is coming into the market, bankers tlemanding 5la and brokers offering f5A for all maturities, some busi- mess being done at the lower fig Tre. Commercial paper was more ac- dive with prime names still Nom- ~manding , per cent.
 I French francs continued to be the Feature of the foreign exchange mar -ll et selling above 6.30 cents, but re- ~acting later to around 6.24 cents. syesterday's late quotation. Demand -sterling eased off to below 4.69 in Perfection of the large volume of grain, cotton and sugar bills being Differed here. Other changes were un- amportant.
 sF'inanclal.
 Days total sales, 929, 1000 shares. < Twenty industrials averaged 10393; met loss, .s1.
 Z High, 1923, lo52s; low, 96,s6. 4 Twenty railroads averaged SS.67; met loss, .66
 ' High. 1923, 9o.63; low. s4.53.
 z MONEY MARKET
 < NEW YORK, March 16.--Call money steady. High 5. low 4h, ruling rate :. closing bid 4h. offered at A, last loan A, call loans against acceptances 4h. Time loans firm, mixed collateral 60-so days 4L Q5h; 4-6 months 5K e a, prime commercial paper. b.
 FOREIGN EXCHANGES
 NEW YORK, March 16.-Foreign ex- changes irregular. Quotations in cents: Great Britain. demand 4.6S <, cables 69.
 60-day bills on banks. 66l2. France, de
 nand 24. cables .24is. Italy, 6.37ia
 and 3s. Germany, .oo4sls and .oo4SH.
 Holland 3s. 43 and 3e.A6. Norway, .f6.
 .,e,s den. .57. Denmark, 1925. Switzer-
 'snd ls 50. Spain. IS; 46 Greece. 1.o9.s
 sentine. 37.l2. Brazil. ft. IS. Montreal.