, 1923-05-18
MEMS AND QUOTATIONS By LEASED WIRE
STOCK TRADING
IS IRREGULAR
Favorite Issues Make Good
Showing in Face of Many
Low Priced Stocks.

NEW YORK. May 1s.-Pressure
against secondary specialties, many
of which established new low prices
for the year, weighed tho entire list
down in today's stock market. Buy
ers hesitated to enter the market in
the face of the wholesale liquidation
and the uncertainty surrounding the
business outlook. Trading was on an
exceedingly small scale. sales ap-
proximating $4,000 shares.
NEW YORK, May 1s.-Indecisive
price movements characterized to-
days opening dealings on tho stock
exchange. Heaviness was again ap-
parent in the copper and chemical
shares but the initial losses were
limited to fractions. American Can
advanced n point and U. s. Steel Is.
but Studebaker and Union Pacific
yielded small fractions. Good buying
power again was noted in Peoples
Gas which added nearly n point 10
its previous four point gain this
week.
When the overnight selling orders
had been disposed of. prices strength
tAA1a - SCRRNA oAA1AS1 A'
covered all or part of their early
losses and n good demand was noted
for most of the equipments. steels
and oils. American Locomotive and
American Brake Shoe and Foundry
each advanced one point and Bald
win a. Underwood Typewriter
jumped Eve points to 100. o new top.
Brooklyn Edison climbed az points
General Cigar 2. May Department
Stores IN. and Stewart Warner
Speedometer one. Mathieson Alkall
dropped n point. DUPONT IN and
American Cotton OIL slipped off frac
tionally to a new low. The tradi
tional selling IN the good news
followed the announcement of two
extra dividends OF nifty cents each or
Fleischman Yeast, which dropped
point. Foreign exchanges openet
easier. Demand sterling was un
changed at $i.62h. French franc
dropped n point to 6.66 cents. and
German marks dropped to within u
a point OF tho extreme low for al
time. selling at .0O2o1a cents.
Trading was unusually quiet dur
ing the morning and new buying wa
largely restricted TO tho customar.
leaders. A better inquiry prevailo'
for various public utilities and tobac
CO stocks. Operations on the LON
side were restrained somewhat b,
further liquidation of many loy
priced shares especially the farm i'm
plement. fertilizer and chemical Is
sues, many OF which established new
low figures for the year.
; Among these recording minimum
Yrices were International Harvester
American Cotton OIL common ant
preferred. American Agricultural
Chemical common and preferred, vir
ginia. Carolina Chemical common and
preferred. Dawson Chemical, Inter
national Agricultural preferred ant
allied Chemical, tho net losses rang
ing from IL to five points. DuPont
also was weak. losing az points
Call money opened at Az per cent.
In the early afternoon. representa-
tive shares fi~uctuated feebly. but
! they made n good showing in Tho
face OF the acute weakness OF many
low priced stocks. A few of the mar
ket leaders were strong. including
Gulf States Steel. Anaconda. Ameri
can Smelling. Cuba Cane sugar pre-
ferred. International Paper. Tobacco
Products A and Reynolds tobacco "B'
but spectators appeared unwilling to
buy freely because OF the uncertain,
ties surrounding the business out
look.
International Agricultural preferred
dropped III points, Virginia Carolina
Chemical preferred 5M; Allied Chemi
cal and American Agricultural Chem
ical preferred az and Phoenix Ho
siery and Sears Roebuck . points.
The closing was heavy. Operators
for the advance abandoned their ef
forts to get prices up in the late af
ternoon when late ceiling of numerous
specinlties increased. Central Leather
common and preferred. Famous Play
ers common and preferred, United
States Realty. American Wooden
American Writing Paper preferred
declined two to three points.