The Birmingham age-herald., 1923-12-27
OIL AND STEEL STOCKS ACTIVE


 trade news. including an increase of 25c barrel in Pennsylvania crude and reports of a broader demand for steel, provided the impetus for a sharp rise in prices in today's active stock market Old favorites anon 7 the standard industrials were again brought to the fore, United States Steel common leading the advance in that group with a net gain of z$t on the day.
 Oils were again heavily bought on the theory that the unexpected ad- vance in Pennsylvania crude would shortly be followed by an increase in midcontinent prices, gains of a point or more being recorded by Pacific, Marland, California Petroleum pre- ferred, Cosden preferred, Tidewater Pure Oil and Houston. Pacific, Mara caibo and Associated sold at their highest prices of the year.
 Middle States Oil was heavily sold on the announcement that Southern States Oil, controlled by the same in terests, had been suspended from trading on the New York curb mar ket. Middle States dropped from 6 to 4A, closing at or net loss of 2 points on the day, the days transac- tions exceeding 5o.000 shares.
 New high records for 1923 were established during the session by nearly a score of stocks, including such active Issues as Corn Products, United States Cast Iron Pipe, Ma tional Lead and Cuba Cane Sugar preferred. "Soo" common and Amer ican Sugar Refining preferred each established new lows, but both made good recovery and closed with sub stantial net gains on the day.
 There was a fair accumulation of buying orders on hand when the market opened, but Initial gains, as a rule, were limited to fractions. Buy Ing power increased as the session progressed and before noon a mum ber of stocks had been up 1 to Az points above Mondays closing fig ures.
 Raising of the call money rate to 5 1a per cent and acute weakness of French francs, which fell below , cents to a new low record for all time, induced some profit taking, but 1t failed to arrest the upward trend. A brisk demand for the steel shares set in during the afternoon, Cruclble being pushed up points; Gulf States Steel and Republic 2.
 Copper stocks again Jagged behind the rest of the list and were reported to have been freely sold by specula- tors who had become discouraged by their failure to participate in the re- cent upswing. Losses in the active issues, however, were limited to frac- tions.
 While the average prices of 20 leading railroad stocks showed a slight gain on the day, heaviness was apparent in a number of leading is- sues, including Atchison, Union Pa cific Pennsylvania and Louisville and Nashville, all of which closed fractionally lower.
 Weakness of French francs was the feature of the foreign exchange market. Observance of a holiday in London resulted in comparatively lit- tie business In sterling which held fairly steady around SABA. Creek drachms rallied points in reflection of the report that former Premier Venizelos would return to Athens to assist in the political rehabilitation of that country.
 s4 Total stock sales, 1,2730 000 shares.
 Twenty industrials averaged 95.61; net gain. 1.19; high, 1923, 1o5.9S; low. s5.76.
 Twenty railroads averaged s2.S7; net gain, 20; high, 1923, 90.51; low. s7s.53.
 ~- BUTTER MARKET
 CHICAGO, Dec. 26.-The tone of the unchanged today. Supplies were little if any heavier than Monday. Fancy butter was wei cleaned up medium to under score moved slowly and the car market -,s Fresh butter: (s2 score). 54c; (s1 score), B3c; 90 score), soc; (S9 score), 47Ac; (ss score). 441ao; (s7 score), 4c: (ss score)'
 Centralized carlots: ocscore,, soc; tss score). 4slsc; (ss score). 44A @45c.
 FRUIT MARKET
 NEW YORK, Dee. zs,-Evaporated ap, ples dull prunes unsettled; apricots and peaches quiet; raisins steady.