, 1923-03-21
STOCK PRICES
CONTINUE FIRM
General List Still in Demand
With Exchange Quota
tions Higher.

NEW YORK, March 2i.-stock
prices continued their upward course
in today's market when bullish dem
on~strations in various groups dis
closed a scant supply for sale at the
current levels. Strength of French
francs, closing of the Piggy Wiggly
Incident and optimistic nature of the
weekly steel and iron trade reviews
had a cheerful effect on sentiment
Sales Appropriated 1900. 600 shares.
NEW YORK. March 2f.-The stock
market. having recovered from the
uneaslness caused by yesterdays VIC
lent fluctuations in Piggy Wiggly
stock which was later ruled off the
big board" displayed a firm tom at
today's opening. A good initial de-
mand was noted for the domestic oils,
coppers and a select list OF rails and
public utilities. New York Central,
Atchison, Baltimore and Ohio. and
southern Railway were tho early
favorites in the rail list.
New high records were made by
American Wooden, Electric Storage
Battery, Kelly Springfield, Moon
Motors, Chicago Pneumatic Tool,
Beechnut and New Orleans, Texas
and Mexico, the net gains ranging
from large fractions to nearly three
points. Lackawanna and Atlantic
Coast Line Joined the leaders OF the
rail group with gains of one point
each. Baldwin up 1. led the equip
ments and the oils moved into higher
ground under leadership Of Californ Q
petroleum and Pan-American. UP IA
and 1 respectively. Gains Of one t'
two points also were recorded by
Crucible, American Ice, Nationa
Lead. Consolidated Gas, Remington
typewriter. and Manhattan Electr-c cal
supply. Foreign exchanges opened
irregular, the feature being a juml
Of 20 points to go cents in French
francs. Demand sterling sold just
under 4.69.
The strong resistance shown by yes
terday's market to the selling pressur
Of frightened speculative and invest
ment interests encouraged a wide va
riety of shares in both the rail- and IN
dustriai lists. Heavy accumulation oil
rails was attributed to speculative an
ticipation of unusually favorable Eel
ruary earning reports. 0 to be pul
llshed, United States Steel common
established a new peak price at loeS
in to the excellent cash posi-
ton of the corporation shown in tht
annua report just issued Independ
ent stee,s. motors and motor aeces'
sorles also took a prominent part in
the upward swing. New Orleans
Texas and Mexico extended its gain to
nearly five points. and Union Bag anc
Paper. Stewart Warner, Electric Stor
age Battery and United States Realty
sold three TO four points above yester'
days final prices. Call money opened
at 5 per cent.
Sugars were sold or the reduction
in the price of the refined product
and Allied Chemical. Lorillard and AT
lant!c Refining were also weak. but
the general list sympathized with the
strong upward movement in GuI
States Steel and California Petroleum
These shares touched 1O4Tk and 1919
respectively. Merchandise issues wer
more prominent, especially Mackay'
Kayser and May Department Stores.
The closing was irregular; some Of
the steel. equipment and oil shares
were sold In the final hour under
cover of the rapid rise in several
other stocks, notably ~Studebaker.
Kelly Springfield and Baltimore and
Ohio.