The Birmingham age-herald., 1923-02-02
"OUTSEDERS3 IN STOCK TRADING TAKE NO INTEREST

NEW YORK, Feb. 1.-(By Asso- ciated Press.)-Little progress was made by today's stock market, which seemed to be marking time pending more definite developments in the do- nestle business and foreign political and economic situations. Prices gem erally moved within narrow and ir regular limits with the trading large- ly professional, Outsiders" showing no disposition to participate at pres ent prices.
 Some selling took place at the start in response to another break in the Durant Motors and related issues, but it was confined principally to the mo- tors chemicals and few specialties. Continued heaviness of continental exchange and a higher renewal rate for call money influenced bearish sen timent, but the shorts" brought out comparatively little stock. and suffi cient buying support was forthcom- ing to steady the list. Trading was dull on the rally.
 Fisher Mody
 Acute weakness of Fisher Body was again noticeable. This stock dropped to 150, as against this years high of 212A, and then rallied to 152A, where it was off "A on the day. Durant stocks on the curb also were de- pressed. In the reaction which fol- lowed this break, Chandler dropped to 617s, Studebaker to 1131s and. Strom- berg to 63%, the first two making up the loss and the last named clos ing at its low price for a net loss of 2A points. The two conflicting movements took place in the last hour, Moon Motors rising to 20 for a net gain of 1A and Maxwell A breaking 2B points to A. Strength of Moon Motors reflected the absorp- fion of a block of 12,000 shares, which have been overhanging the market and which changed hands at 19.
 There were a few conspicuous strong spots in the industrial and,spe- cialty lists.
 Phillips Petroleum gained 2A points on official denial of reports that new financing was contemplated. Associated Oil was pushed up PA points.
 Increasc in Oil
 Announcement of another increase of 25c a barrel in Pennsylvania crude oil prices and an increase of 10c barrel in the price of bunker fuel oil in New York harbor were the princi- pal items of trade news. Owens Bot tie was quite active on overnight an- nouncement of an extra dividend of 25c. the stock closing a point higher.
 Electric stocks again were among the most prominent Of the standard shares, General Electric rising nearly 8 points and Westinghouse l on re- ports of higher earnings.
 Pressed Steel Car yielded to selling pressure, dropping points. United Retail Stores was supplied freely on publication of a statement showing a large decrease in earnings.
 Trading in rails was sluggish, few dividend raying issues showing signs of heaviness, notably Louisville and Nashville, off 214; Nickel Plate" first preferred, off l A, and Reading first preferred, off l.
 Call Money
 Call money opened at AZ per cent and then advanced to 5. Time money rates were unchanged at 4 F bid and 5 s4 asked with few long-term loans being arranged at the higher figure md some shorter maturities reported at 45s. Interior institutions are mak- ing more inquiries for commercial pa per, the bul kof the best names going at Az per cent.
 Demand sterling advanced nearly a cent to $4.66, but the continental ex- changes were slightly reactionary, French francs again selling under 6c.
 Days total sales, 991 .954 shares.
 Twenty industrials averaged 97.71; net gain ?, High 1922, 99 42; low, 96 96.
 Twenty railroads averaged S6. o6; net loss, IS. High 1922, ST. 20; low. S4 R