The Birmingham age-herald., 1923-10-23
SPECULATION IS
 ALMOST ABSENT

ALMUSI ABSENI s.. NEW YORK, Oct 22.-stock prices opened firm in today's market, despite the unfavorable weekend political developments in Germany, but the general list turned heavy in the third hour on selling believed to have been inspired by the increasing weakness of the foreign exchanges, demand sterling and German marks touching new low levels for the year. Specula- Utive interest, except in few days volume of business totaling only about half million shares.
 When the market opened Wall Street appeared to be of the opinion that stock prices already had dis counted the worst that could happen in Germany and that the weekend uprisings would have little effect on . the domestic economic situation. Short covering operations wore resumed in the leaders with the results that gains of point or so were recorded by Baldwin and American locomtives, American Can and DuPont.
 The continued heaviness of sterling, which dropped below $4.50 and was attributed to the withdrawal of through fear Of inflationary meas lures in Great Britain, eventually created pessimistic sentiment among r professional traders which found US reflection in 8 larger volume of sell ing orders.
 Hits Rubber Shares.
 Special weakness again cropped out in the rubber shares, United States Rubber common and first preferred sinking to new low levels for the year. New minimum prices also were established by a number of other ls- {, sues including Central Leather pre-
 I.. !, t1NYal preferred
 a The market, however, was not with out it's bright spots Woolworth Jumped points to 271, new 1923 top, and .Kresge climbed points to 245A. New peak prices also were es- tabiished by Tobacco Products A, Reynolds Tobacco and Pacific Telephone. Merger negotiations were again held responsible for strength of stobaoco stocks. Declaration of higher dividend by the directors of the Hartman corporation carried that stock to S6ss but it slipped back to s4% later on profit taking.
 In the foreign exchange market French and Belgian francs each broke about 1s points, the former selling around 5.77 cents and the latter around 4.s61s cents.
 German marks sold as low as two cents a billion.
 Brokers were reported to be lend
  rate opening at A and easing to before the close. The time money market was dull with brokers bidding 5 and bankers asking bA. some 90-day loans being arranged at the higher figure Only limited amount of commercial paper is coming into inc market. the bulk of the prime names moving at 5A per cent.
 LIVE STOCK
 CHICAGO. oct 22.-Cattle: Receipts. sOOOO; fed steers and yeariings or yaiqe raI9s s9 steady; dy'' Others and western l., grasssrs stockers and feeders and m between a gPades eaa atared ta dHs steers si24o, weight 1585 pounds; best yearlings, $l1.b9 bulk Ted steers and yearings ssg lg.0 few wgeseI Ieads $7Q7.65 numerous loads plain quaIltlea steers. especially weighty kind' ,is. unsolq at boiognas, s425Q 4.5O; light or medium weight grass bulls downward to StS,,, SS.4S, Soc lower; heavy calves showing decline; bulk stockers and feeders out of first haaos aoss. s'fSSi Reseipts. 54.oOOi fairly active; uneven mostly 1oc to l5o lover; desirable ferings off most, bulk good and an l. choice 24o to s25zpound butchers, St;So W ,,'s a,ao' Iafgsy ssse sS dssraSe isS % weisRsy Slaughter pigs, s5.50@6; estimated holdover, 17,OOO. sass to ss1ens fssns snf ana sS shoes King e5.sfsd SSSa sPa 'hS5ss %Iss natives. s11.7 Q1 12; few upward to sl2.So cuis. mostly ssI best fat light weight ewes. $6.50; early sales feeding lambs s12.25 @1260.
 n.seD9s ssSS K Slow Oct: :i.ad2 s steers. ss@s5o; beef steers. sl@s; heif- .tosRsrs sSws 'sSSsS ssSSS f'fSsFs G0ss Receipts. $500; steady to dOe lower; 29o sd SB P pSaaS; 1s s 9 s SGs down s625SS3S nG t6rowS1ts' sS;DO to9 ,a%bs a1Ts $l5.o5; sheep, SSQ6.
 CINCINNATI. O.. Oct. 22.-Hoss: Re medium, ictiia sS.75; stags' .s4@5.26; heavy fat steers weak choice yeariings and light astiers asd snchsngsd s9sae " steeSs ss5oas; prime yearlings up to s10; hefers, SS4do; cows S3.50Q5.50. Calves steady, $3Q12
 50c lower; SSq126o
 EAST ST. LOUIS. nl.,. Oct. 2s-Hessi Receipts. 21. .OOO; generally. steady on hogs, 25c lower on pigs and light a lights S7OOQ7.25; few 220 to 250 pound butchers, s7s5@75o large part of run, run consisted con sosd from s6.75@7:oo; pigs mostly s6@S; packer sows. $5.75. ,. .. steers steady to shade tower; quality plain; one load, s1o35; balance from
 western ssenss steers stsady ssdSns at sSsf odd lots. SS.75Q1O.60; light vealers about steady at s1O.0o o@1l:5O: other, other ip kill1ng snag 450 canneFs :hT5S232S; Suk, SuIk 's SS 425; stocker steers strong; bulk. $4.2og $50.
 Receipts, 500; calves, 5,ooo better grades killing steers steady; others weak; beef cows steady to weak canneGs ha1enas sns eS@ eH9 lOO; calves dull, 25 @ soc lower; practical top veals, ss.5O; desirable stockers and Sst eaay eavs.
 Hogs: Receipts, 1S.ooo; steady to i9c SlS S't to 2so pound, s7.oo Q 7.O5;. i7O to 200 pounds. $6.4O @6.so; 1S0 to lSe pounds stoSS ssSS@Sse DjSs wenR PRet,RE sGgs
 Sheep: Receipts, 12,00o; killing classes
 p. ss steady 6shefs s1 mcsy i9P fs@fs Iseding 'E1a' is@Os. 'I;i9 ;ii.Oo S fiso '
 NEW YORK Oct Fs0:Pts .asss Oulsi caives SCR Receipts sGT ioe steady. veals sS99; buttermiiks. s4S5; S;o,u.. an. r. siSoo@ 70 l2;5o; cuiis, .ss50@ Q 500,
 ssS: sa heasg %sisS''i hOss s,'V & roushs & s6.00@6.25.
 HORSES AND MULES
 EAST ST. LOUIS, H., Oct. 22.-Horses and mules maintained generally steady level. Commission arrivals were about 400 horses and 500 mules.
 Horses Good to choice drafts sl354 ITO; medium to good drafts soSlSO: good to choice chunks ssO@so; medium s40@75 fair to good southern. s4o@75; Rplooth mouthed southerns. s2o@ssO;