The Birmingham age-herald., 1923-02-21
MILLION MARK ISI AGAIN EXCEEDED AT DAYS SESSION

NEW YORK, Feb. 29.-BuH opera tors continued to mark up prices in todays stock market, choosing new leaders from among the railroad. motor accessory and chemical shares when their operations in standard industrials were hindered by profit taking sales which were again heavy in volume. While trading was on slightly reduced scale. 1t was the eleventh consecutive full session in which total sales had exceeded the million mark.
 Averages of 20 industrial shares and 20 railroad shares each stood at new high levels for the year. The industrial average today stood at 103.56, as against the high mark of 1o343 for last year. established In October. Today.s railroad average of 90.1T still was below the high mark of 9s.ss last year.
 Switching of professional specu- lative interest from the industrials to the rails was predicated on the belief that the January earnings statements soon to be publishen would be unusually favorable. Illi- nois Central, which established an. other new high for the year, 1l7k up 2% points from yesterdays close. was one of the leaders. Other strong spots were Louisville and Nashville. Norfolk and Western. Chicago and Northwestern. St. Louis Southwestern preferred and Baltimore and Ohio. ali up a point or more.
 IndustrfaIs Taken In Hand.
 Industriais. were taken in hand again in the late dealings. American can being pushed up more than four points to new peak price at 1o0h5, then reacting to 99. Unconffrmed reports of an early increase in the dividend rate from s5 to S7 sent Stromberg Carburetor soaring to new high at S81s. or nearly 16 points above yesterdays low. Other motor accessories improved in sympathy
 Maintenance of the 16 oents a. pound rate for copper and announce ments of higher prices for gasoline and automobile tires were the prin- cipaI items of trade news. Estab- lishment of a new high record for sterling within 15 cents of parity and only g1s cents below the begged rate" of s4.75 maintained by the Brit ish government during the war had a cheerful effect on sentiment.
 o O o
 Industry Improves.
 bQYln& or GHeInlChA hhdI CH W0S based on reports of the steady im- provement in that industry, gains of 1 to 21s points being registered by American Agricultural. Dawson and Virginia Carolina common ana preferred. United Fruit made quick response to rumors of an extra dividend distributed, jumping from 173 to 1s0h.
 Call money opened at 4A per cent, advanced to during the noon hour, and to 5 1s just before the close. Time money was quiet, with funds avail able for all mateurities at per cent. The commercial paper market held firm.
 The features of the foreign ex- change market were the continued strength of sterling and the renewed weakness of German marks. which dropped to 0041 cents, as against the recent high of .0062h and the ex- treme low of .0020 established last month. French. Belgian and Italian rates all showed improvement. Financial.
 Days total sales, 1.o7s,ooo shares.
 Twenty industrials averaged toS.b6, net gain, 60.
 High 1923. 1os.5o; low, ss.ss.
 Twenty railroads averaged so.1Ti net gain, 37.
 High 1923. so.17; low. s4.5s.