The Birmingham age-herald., 1923-10-25
COPPER AND RAIL SHARES SHOW SAG


 NEW YORK, Oct. 24.-Except for
 some sharp recessions in copper
 stocks and low priced northwestern
 railroad carriers, many of which drop
 ped to new low levels for the year,
 stock prices moved within restricted
 trading area in today's relatively
 quiet market.
 Liquidation of the coppers was
 based on reports that few of the pro-
 ducing companies were able to ope-
 rate at a profit at the existing price
 of the red metal One dozen shares
 in this group either broke to new
 bottom prices or duplicated previous
 ones. among them American Smelling,
 Anaconda, Kennecott, Utah and h.
 spiration, the net losses averaging *about a point each St. Paul issues were heavily depressed in specula-
 tive expectations of a poor September
 earnings statement, the common drop
 ping 1s to 12A, and the preferred
 vJ1a to 23 5-S each at new lows Mis-
 SSouri Pacific common and preferred
 and Chicago and Northwestern also
 broke through their previous resist
 ance points.
 Good buying support was forth looming for such pivotal stocks as
 United States Steel, American Can,
 Baldwin and Studebaker, which closed
 practically unchanged on the day, but
 operators on the long side of the
 market showed little disposition to ess lift them out of the narrow area in .---.- WhlCh they nave been moving.
 The Iron Age, in it's weekly review 9s Aaf the iron and steel trade ieports M some expansion in automobile manu N S5acture, sustained structural steel ac- .s uhNity and, for Japan, buying and N@@tbefinte inquiries while in bookings q 1T finished steel the rate so far in -S .0ctober approaches 10 per cent bet ss eter than for the same period in Sep hember." The Bethlehem Steel cor K pqrationsin it's report for their third \. elarter, calls attention to a notice fesie' hie improvements in new business, Rs-particularly with the railroads. Oc- E. fpber operations are said to be prac- tftalls' 75 per cent Of capacity. Marked strength was shown today ',3 a number of specialties particular 7 congoleum, which jumped nearly $ points to a new top on rumors of .atJ per cent stock dividend in the aear future. New peak prices also were established by American Tobac-
 % Products A, May Department stores 81d West Pennsylvania Power per
 cent preferred. Fresh weakness -eFopped out, however ill Famous Is d a8jayers, American Sugar and Coco Cola preferred Fisher Body sold 20
 points below it's previous quotation.
 Call money opened at 4 F per cent W~Dd then dropped to f. More time ssnds were available for 90-day ma
 turities at , per cent, but business generally quiet
 Cable dispatches indicating weak ening of the Rheintsh separatist
 
 provement in the foreign exchanges Demand sterling advanced about 5s
 of a cent to $4.49, French francs sold around 5.S2 cents and German marks Which had been as low as one cent a
 billion, rallied to 1.2 cents.
 Total stock sales 551,000 shares Twenty industrials averaged SHIP, net loss .21.
 High, 1923; 1o5SS; low s692. Twenty railroads averaged s11o, >llet gain .0S,
 High, 1928; oo.51; low 7s.5s.
 LIVE STOCK
 CHICAGO. oct. 24.-cattle: Receipts 14.o00; better grades long fed steers and yearlings closing fairly active; strong to i5c higher. Spots more; short fed steers tiiieven; practically ali grades yearlings in active demand; top matured steers, averaging 1,0o9 pounds that price;
 yearlings s10.5oa 11.90; mixed steers and
 heifers upward to latter price; light HOO to 1,fOo pound short fed. $o.5o and below; she stock and bulls strong; veal
 weak to 25c lower; plain light stockers
 esfer numerous showing most decline no bulk l
 loads upward to-ss $ and above. Hogs: Receipts 2s,Ooo; mostly 1oc to
 advance; bulk good and choice. 2sO to q $25;pound butchers, s7;sa5@ 7.66;, top, $77o;
 mostly ,s719g74o; good and choice light
 saMs sntS larssly mdsiy ssaS%a Gak pagipg
 weigh5y ta5 sISughter P5gs s5.759e5O esti
 mostly 25c to sSe higher; sheep @ steady siy
 o b fefang eat s5s TGw steady to lSi .I1 few zs medium to good kind downward
 as city batchers to ahd aTgsy paying upward to slS; culls, ss@ $50;
 i top fat ewes feeding rs~ lambs Slt.5o@12.25; top, si2.5O.
 \ NEW YORK. oct 24-cattie: Re-
 esPPts ta; 925; irgsgular:; Steers. s5@e;s5;
 Calves; Receipts, sll firm; veals, si45o q l5; esuls and littls calves, SS@s; but
 sheep and @ ii&sssf'' iamss: ssss,i Reoeipts. 1,1oo sheep; iis Ps $5@S25; eqlIs, $2@S' lambs, slo Hoss; Receipts. loo; irregular. light
 hogs $l.25@74Oi roughs S6@6.25. Receipts, ioo steady heavy steers. ss@ s4O beef steers, S4Ws; heifers, $4@750;
 CTS. s2.5O9e Hogs Receipts 2.7oo;
 q9garter 9sk Idsg higher; % 200 pounds up, s7so; E pounds s6.s5 pigs i2o pounds down
 sGasp Reoepts aS stsSdy ssS laSa Gooo; steady to 2O@25c lower; packers a1a k6 6utc9srs s775 pigs and lights s4,5O able butcher stock strong to 25@5o
 seady eoWs eaIye5 seaey 9saers sheep; Receipts, 750; steady lambs ' steady to 50c higher s4@12.5O. EAST ST. LOUIS. uls.. Oct. 24.-cat- te: Receipts, 6,000 native beef steers < steady to weak; top. $11.75; bulk best
 steers, s10@1 11.25; no western steers here; light vealers soc lower at s1O; largely loads yearling steers, S11 bulk beef cows < Sl.o0@9.25 bulk, s2@215; bologna bulls mostly $3.5Om4.25i few up to s4.75.
 sheep; Receipts, 1000; mostly 25c higher on fat lambs and yearlings sheep
 saarce and steady; packers paid S12.50 for good local fed lambs: woolen offer ings sl2@122S; two loads shorn lambs S1l,15; eulls, $SQS.50; one load early to
 Hogs: Receipts. 19,O00; active un- evenly, 1Oc to 15c higher; pigs showing most advance; best butchers around 10c z Co 5c higher; S7.60 bid choice heavies l60 to 200 pounds. $7.20@7,35; packer VOWS. $5.9O@6.
 KANSAS CITY. Mo, Oct. 24-cattle:
 few sales desirable beef steers steady to weak; other steers draggy; best weighty steers, S11; averaging 1910 pounds; she stock dull, weak to 10c lower; canners V mostly S2.15 2.35; bulls weak; bolognas S5.50@3 calves weak to 25c lower; ~ light vealers, S9W9.50; stockers and feed egs weak to lowers few early sales $5 50
 V6:50; fleshy feeders, $7.5o.
 Hogs: Receipts, 20.OOO; fairly active shippers doing little; packer top. SIPS; bulk of sales, s6.5O @72O; desirable 2i0 to 290 pounds. s715@7.25; bulk good and ehoice, 170 to 200 pounds, s7.65 O 7.1O;