The Birmingham age-herald., 1923-11-02
r~ nwve- ia DAYS SALES AGAINI EXCEED A MILLION

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 NEW YORK, Nov. 1.-stock prices continued their move to higher ground in today's market, although they were unable to maintain the fast pace set in yesterdays spirited session. The rapidity f the advance in the leading industrials however, encouraged intermittent profit talk ] ing and renewal of bear selling, :. but operators on the long side found little difficulty in finding new lead CTS when the old favorites showed signs of falling. The days sales again ran well over 10000 shares.
 Heavy buying of the railroad shares was one of today's features, Chesapeake and Ohit' was the indi- Nidual favorite. being pushed up 5es points to 731-S on buying that < apparently was based on speculative belief that the stock is shortly to be { placed on $6 dividend basis. Sew ccal other low priced rails were taken in hand just before the close, net gains of l to nearly 2 points being registered by Baltimore and Ohio, Reading, Southern railway. Northern Pacific and Great Northern preferred.
 Wall street heard reports today that strong financial interests were A behind the market, some observers associating the current advance with 4 were unable to cover their commit ments yesterday, found few opportu nities to retreat with profit today, the speculative favCrites holding relatively steady. whenever yester- days closing prices were reached. Expert opinion is still widely di- vided, however, as to whether the ' -snpward movement can be main tained.
 Fresh weakness cropped out during the day in the oil shares. Selling of these issues was ascribed to a va riety of things, including continued overproduction particularly in the new central Texas fields; rumors of new financing by some of the smaller companies, and fear of additional downward readjustmcntS of gasoline and crude oil prices. Texas com pany was especially weak, falling lmore than 8 points to S61s, new low record for the year, but rallying slightly before the close.
 C United States Steel closed fraction tionally niger at 917s after having sold one-half a point above that fig ure. Studebaker crossed 10l, but closed unchanged at 100$s. Baldwin ended the day 1s lower at 121. Oc- tober shipments of the Baldwin Lo- eomotive works totalled S1.350,000 new high record for the year. Amer ican Can was the feature of the ac tive industrials, touching 9sA, but closing a point below that figure for a net gain Of 11k points. Congoleum advanced 71z points to 157, a new top, and Foundation company jumped elk points to 65. Net gains of l to 2 points wore scattered throughout the list.
 Foreign exchange trading was quiet as result of the annual stock exchange holiday in London and the observance of All Saints Day on the continent and in South America. De- mand sterling dropped nearly % of cent to S4.47%, French francs marks fell to another new low rec ord, being quoted at 4,00O,00o,00o for 1 cent.
 Call money opened at "A per cent. but fell to 41s before the close The time money and commercial paper marks were quiet with nc change in rates.
 Total stock sales, 1,21O0OO shares; 20 industrials averaged SS.41, net loss .12; high. 1923, 1o9.3S; low, S5.76.
 Twenty railroads averaged S2.71, net gain 1.24; high, 1923 so.5l; low, 1853
 BANK OF ENGLAND
 LONDON Nov. 1.-The weekly state ment of the Bank of England shows the following changes:
 Iation increased f1,es2,ooo; bullion in creased f57s other securities increased ooo: pubuc deposits decreased s2,51s,0OO; notes reserve. decreased f1,ssl oo0; govern nent securities increased k1.170,O OOO
 The proportion of the banks reserve to liability this week is 1897 per cent; last week it was 2o.33 per cent. Rate of dis
 FOREIGN EXCHANGE
 hsaso ssas Brisa Ds%saa snSsss''s sx ssa 44s so-qsy nsn. bis bn 5ss Sn oaslss Sses'' ssss ItslX 44' a.rmsn2 4as,S Hsis5S% ssooooooOos% S9I o,SN ooooocooo2s4. Holland. s2s5 s5;so, Nor 17.io. switzerland, .17.soh; Spain, 1894 vakia, 2ss. Juso-sIavia, lis. Austria, .OO14. Rumania, .1. Argentina S2.2S. Brazil, 9.10. Montreal, ss 2l-32'
 CALL MONEY
 ss5y SGw Hos TosK Tsy 1sy cent nGs faW n0Psy psy sfi'' sid. 4h % per cent; offered at x per ssn last scdsptsnees lspn ser osn fs loans easy; mixed collateral so to 90 psT psys cent per pr%s nss oommerclal @ G m paper 5A per cent.
 LONDON MONEY
 LoNDoN N1y i-nsr s.I silver r.It sl 1S5sd bts f5pns fSpee month. at biiis. sR@s sic per cent | ATLANTA hESEhtG baNh ATLANTA, Ga. Nov. 1.-(Special) )- Statement of resources and liabilities Fed eral Reserve bank of Atlanta, at the close of business, October S1. 1928; in vault s5,ss5, 175,5o; gold settlement bank fanG aod %h hsd reserve agent ss5ss2ss6 gold e'6 redemp rD 2 serve so1067,065.96. Reserve other than z gold, s5,2so,ss5. Total reserve SsS: S4S- 7 Bills discounted: Secured by government obligations, $19.042,341.s0; all other, s65,- 4171s1.09; bills bought in open market, s7.4os,714.es: Total bills on hand ss1- $50; all other certificates of indebtedness, ] s54Ss; municipal warrants s5o,s1s S$. Total earnings assets. ss2 151, o4s sS. Bank premises uneoeeted itsms ss17 5 z2i,s2., TStai resources s222,1O2. .675.71.
 Liablites; Capital Paid % in, s4'aSS;sSo; aoSs ment s2.s93.o54.59: member banks-re- 7 serve account s53,S7b,S6ii all other. s14l;- < 6o47e. Total deposits, s56. .41o .S5 Fed sl2275e6s5 deferred availability items, r sl79s6 561.o1; all other liabilities. VI 56s.555.93 Total liabilities, S222. 2.67b.7l; federal reserve note liability combined 509 2 per cent. Contingent liability on bills { purchased for foreign correspondents, $l,- ( 552, 1sS.07.
 BAR SILVER
 NEW YORK Nov. 1.--Bar silver 63%c Mexican dollars. 4sxe
 } Weekly Statement Of ] 12 Reserue Banks \ WASHINGTON, Nov. 1.--combined, re,