, 1923-01-05
STOCKS STRONG
IN N. Y. MARKET
Heavy Buying Demand Features
Trading on Leading Ex-
!. change.

NEW YORK, Jan. 5.-An divisions
Of the stock market moved to higher
ground today in the subsistence Of
speculative selling founded on the
failure OF tho premiers' conference
TO reach an agreement on German
r~eparations. Many stocks reached
their highest prices in more than n
year and railroad shares took a prom.
inent part in the upper movement.
Sales appropriated BIS 900 shares.
NEW YORK. Jan. b.-Opening
prices In today's stock market were
irregular with the main tendency
downward on further selling of stocks
resulting from the break up OF the
allied premiers conference. Selling
was most effective against the specu-
latIve ~favorites. Baldwin dropping IL;
North American and Pan-Ameriean
"a" one each, and Studebaker and
Pan-American 'B." = each.
Good buying power developed in
some Of the opening weak spots. Bald
win and United States Steel making
up their early losses. The general
list continued Irregular. Gains Of a
point or more were scored by Pull.
man. Pressed Steel Car and Marine
preferred with substantial fractional
advances taking place in Maxwell
IA Pacific OIL, Corn Products,
United States Alcohol, American Can
and Coca Cola Pan-Amerlcan u
extended its loss to 1S points and
Chandler dropped IL. Foreign ex.
changes opened lower with acute
weakness being shown by the French
and German rates, Paris francs
dropped IL points TO 6.92 cents and
German marks were quoted at LIS
cents a hundred, another new low
record.
The forenoon market gave a good
demonstration of strength. The abil-
1ty of the pools to mark up their fav-
orites In the face of the unsettled for
eign political situation caused consld.
erable covering by the short interests
who had hammered the market in yes.
terday's late dealings. Speculative in
terest was confined alomst entirely to
the Industrial shares, few of the rails
participating extensively in the morn
ing dealings. Atlantic Refining.
which moved UP IA points, recorded
III largest Individual gains while As,
ISOLATED OIL, Mack Truck, Dupont
GNt1i 4ubo DAGASIAEu SOHablludNtb
gas, Endicott.Johnson. Loose-Wiles
Biscuit. American Can, California Pc
troleum. North American and Marine
preferred all moved UP two or three
and three quarters points. Pressed
Steel Car opened n point higher and
then fell back 2k. Can money opened
at az per cent.
Railroad shares awoke from their
sluggishness in the early afternoon.
large buying orders appearing which
carried Chesapeake and Ohio up 3
points and Reading. Northern Pacific.
Norfolk and Western. Chicago North
western. Baltimore and Ohio. Pere
Marquette. St. Paul preferred. Rock
Island, Texas and Pacific md st.
Fouls and San Francisco preferred.
A. ~. Industrial leaders continued
to max rapid progress upward.
American Can extending It's rise to
four points. while woolworth wes up
So. Consolidated Gas 3S, California
Petroleum 3, Remington Typewriter
IN and Continental Can ~.
The closing was firm; driving In OF
an o~vercrowdeS Hhort interest result
ID in some excellent gains In the
Dealings although profit-taking vas
apparent in some quarters particular
ly the steeIs. Call money was marked
up to AZ per cent.