The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-05-20
Weak Shares Gain
Point Above Lou
In Closing Rally

by spectators for the decline in to-
days brief session of the stock
market resulted in the establishment
or new low prices by a score of
representative stooSs and brought
about a new low average of $40 in
a list of twenty important in
dustrials, The market again was a
dull affair. the bulk of the trading
being transacted in the first hour.
A sharp rally at the close carried
many weak shares point or more
above their low points of the day
but was not sufficient to show gains
over the final quotations yesterday
California Petroleum was strong
from the start rising nearly three
points, due undoubtedly to publica-
ton of an impressive quarterly
earning statement. and this bullish
factor is believed responsible for
widespread short covering opera
tons in the final hour.
United States Steel again saggea
to a new low price for the year az
$685., rallying later to 81, where 1t
closed y point off on the day.
Other steels which dropped to mini
mum prices for the year lnciuae
Crucible and Great Northern Ore.
Selling pressure again forced re-
cossions OF / to points in many
representative issues, new low
marks being recorded among others
by central Learner Ia and
preferred Amer lean - KaIiy
Leather preIerred, o.uue AiaN Ameri,
sprlhgilelu 1ooo S ~, Davison
can As[louIt uiai GomaIina Chemi-
III, .[if american Wooden,
tiuett Ieap0aS' IN IN, Sarna1s In.
Austin Nlchols, iostui' establishment
tylna Nc 'iIa,.ilan Tohacco. Famous
Ward, American RIGA cnair uuaSO0' NationaI
tiayetS; az .t,Iirho,ise aIactric and the
i-eau' -. Gsan,nanv
feun n1 ''o On ,,,jnal forced down yes
tcrday alons with the others IN .hs
fertilizer cotton oil GROUP reopn ,in.
ed today selling most oil the nlorhi ~
above Fridays quotation.
,rbe fn,turs of The foreign eX-
,,,oriset vas the decline of
German MARKS ol .pVi a I7,,,.o
record for all time Al otne. ,;nhtI,
pean rates moved upward Sis MY :
demand sterling rising u point 10
steos and French francs Il of
SO cents
Po1nt " ~ c1earinao house state
Ihe weekly cieal .us - sa71o4
ment showed an increase % $3.50.
600 in loans, discounts ana invest
ments. Reserve of member oanh ssa IN
~ s.,e COZ 900 ubiIe cash in vaults de-
s1,o'4,SVVs oEo ono Net demand de-
cieaseu 1890 a seo ono ,n1 time
deposits s12,491, o0o. Aggres re-
serve totaled S512, ,0Oo' leaving an
excess reserve of s10,72Q,410, an in
crease of o42490 over that of
week ago.
Pinanc IA, sales aas 600 shares
Twenty industrials averaged 1910,
net loss 81
Hieh 1923 1888; low 94.7o.
$3.50 rai,roads averaged s1.Oo;
tweneS
net loss a ;SS' low, soa7
HlSh 1'-o' ~" 90'''.
z--.
LIVE STUN -. c...
receipts 500 calves So for w ss.d1 best ,s
strong top s1o.26; plain srsn aces n ns,1sd
steers weak to 26e lower ouIR m mae.
yearings soc lower q aa ltnr mostly ueaI
steady to csc lower; in between grades &c
lower; Gamers steady; bulls strong to zoe
higher; calves mostly 5oe hlghef, prae
teal top, sie.eV; oeltsr srao o.sers nost
ly soc lower; stock cows and hefers
steady; stock calves STEADY TO hlshet,
Hogs, receipts o'9UG WI, mostly s'e az s6 a.
packers; top sl.50; ouiS oil sai eso o,'pd
745; bulk desirable loo 10 -eV p odmo
averages. $40; packing so"s s'eaos ;
bulk. s6.15.
i5c to 81 higher top Wo9Ieo, s!o,-9i si W.
s14.1o; no choice arrlvais at Week MN
time; spring LAMBS 10 sis'S Ok 70 TX
best natives $l!; Callfofnla, Sio 20 @ 40 10,
sheep steady TO l5c hlsner' top sh9 IN
Texas wethers sscze ouih' ''''V~ ~
Hght IeNas ewes wv.
=, c.,
LOUISVILLE, KY May ls;-Catte' re
ceipts. sou; ciosing steaeE 'sn neSS ,s,ters
, sg O. sto' peer .s@z so fesSegs ssM 725.
stockers. $4,000 6.75 -,
Hogs, receipts, ~ 90 So 10 ,e g' nunds
90 pounds up d io 10 a. % nnnnds
Town so' thro"outs' So''o oo""'
IS down. ,.,,hs
sheep receipts 3S9o s'eaus' MINUS
'l7@ l7.20; sheep so@o'oV'
.,>.,.,>~,r, n Nav ,a-uops re-
clNCINNATl. O., May l''9hoss
seipts 2..oo' weak. dne 10 h,+ohor. s71s
caves J, n. 20 pses sows s5a575: pigs and
~; heavS Ia Ho. SONS, sS@ao5
ights. sS@ '.oo: stars s4u 80. essn
oattie. receIp'ssic 20 ~ o,,s "a o517 5o
q 9,lo; heltcrs, ~ sES"1o COWS S'-'" '''''
Sheep. receipts l'V""' s'eauS' i'a"i''
sio"' ss@ -.
1 600; compared with week ago: peer
steers and WORKINGS iarEeN loc 10 ~
sp",s r',,ro IN npturn. extreme tor
!, sas 10 i,roI po,,nu $3.50 "a boa,,y we,rht
Steers AT sa"m ~" ,aadars
'earlinss 5000 stockrrs ana ree adt
slow. carly; close fairy actiNe. STEADY
beef cows and heitefs larEeiE -oc 10 80
higher; Gamers ana cutters strong 10 ~
lp: bulls 15c 10 25c higher; veal caves
nnevenlv 81 to slaO higher' week JUN
prices follow; beef steers ana yearll ny,
ss.F0M $50; stockers ana teedcrs' '-oW
&; beef COWS and hei,ers W % % SO can
r@rs ard cutters s3.f5@ f65; veal calves
80 ?S a 1850.
sheep receipts, 1000. todaYs receipts
Sc pound clirrers Sli.75. with heaWes az
slS; 1oc to 9hc lower; market Tor week
fed lanhe mostly 81 to Sl.9o hishsr; year,
81: choice So gc.ad clippers q 'l 81;
srns sprnsfss s5o S natse sn GSw