The Birmingham age-herald., 1923-02-16
FOREIGN LARGELY DURING
NEWS IS IGNORED
 SESSION

NEW YORK, Feb. 15.-Bull specu- lation succeeded in bidding up prices in today'S stock market but they were hampered by large volume of profit taking induced by the higher call money rate, which opened b. advanced to 5 F and then and fell back to again. Fresh buying power centered largely in the independent steel, oil and copper company shares, but number of specialties were bid up sharply for individual reasons.
 Foreign news reports were largely ignored but the years high for sterling had cheerful effect on son- tlment. Higher prices for crude oil. zirc and copper, the latter being quoted at a new high record of 15h cents a pound, stimulated the buying of shares in those groups. The ap- parently chaotic condition of the Cuban raw futures and refined sugar markets imparted an irregular trend to the sugar company issues.
 New High Records
 New high records for the year were made by American Can at 99N, Cos den Oil at 5s5s, Gulf States Steel at 961a. North American at 119, Vest inghouse Electric at 65 B, Utah Cop per at 69A, Chandler Motors at 7415, California Petroleum at S5K, United States Industrial Alcohol at Fl ss, Vanadium Steel at 427s, Crucible Steel at S2M, Replogle Steel at 313s and United States Smelling at 41 +, but most of these prices were shaded at the close, North American drop ping to 117ss for net loss of Is and American Can to 9S1s, where it was up nearly points.
 Pool operations were concluded 1fiuo In all rta of the list. California Petroleum was the leader of the oil group, trading in which became more active on an other increase of 25 cents a barrel in the prices of Pennsylvania Crude Oil the sixth increase this year, and an average decrease of 27,600 barrels daily in crude oil production for the week ending February 10.
 The hardening tendency of steel prices, noted in the weekly trade re- views, combined with reports that manufacturers were offering pre- miums to independent companies for prompt shipments, drew attention to the steel shares. United States Steel common approaching within small fraction of it's years high and the in- dependent issues soaring to new high ground.
 Rail Tendency Upward
 Some of the individual strong spots were Atlantic Refining, Tidewater oil, Kresge. Dupont Pittsburg Coal and Westinghouse Airbrake, all up 3 10 points.
 Trading in rail shares continued In lethargic fashion. although the main tendency was upward.
 Time money was offered at per cent for all dates, with brokers talk ing some for 90 days and longer but bidding only "A for the shorter ma turities. Commercial paper continued moderately active with the bulk of the prime names commanding A Der cent.
 Foreign exchanges were firm. De- f1and sterling reached a new years high at 4.6S& and French francs ktiffened to above cents. Marks touched .0O51ia or more than 15o per cent above the extreme low, the re- cent rise being attributed to Ger man government manipulation.
 Days total sales, 1.3SS.000 shares.
 Twenty 'industrials averaged 1O2.57; net gain, .72. High 1928, 102.57; low. e6.96.
 Twenty railroads averaged S914; net gain, .09. High 1923, S9.56; low, S4.53.