The Birmingham age-herald., 1923-03-04
PROFIT-TAKING ISI FEATURE NV DAY
 IN INDUSTRIALS|

lN lNUUSI MALS
 NEW YORK, March 3.-Railroad shares were bid mp vigorously in to- g days brief stock market while heavy profit taking sales were being made ! on the industrial group. The builish i demonstration in rails which had been tagging behind the market, was in belated response to the subStan- tial improvement in earnings shown py the January earnings reports over those of the same month last year. az New high records were established New York Central 99; Atchison at -- l05 ls Baltimore and Ohio at 512; Northern Pacific at S1: Southern Railway at 34i2 Rock Island at :. .a37$s Great Northern preferred 29as and St Paul preferred at 44%, the net gains ranging from small frac- tions to nearly three points. At the end of the session. the average price 5 of 20 leading railroad stocks was at s the highest figure since April 1920.
 Steels which were strong yester day, slipped back today but not un- til after new peak prices had been ssestah!iShed by United States Steel : common at 10s7s, Bethlehem B at stGI7s ard Republic at 61ss. Opera tions of steel mills are now reported to be at about 90 per cent of ca
 
 their books until a substantial re- auction has been made in present un- filled orders.
 Business Turned Down.
 Despite the unusually heavy de- mand for steel, the United States Steel corporations monthly state ment next Saturday is not expected to show much change because of the large volume of business turned down by the company.
 Baldwin and Studebaker offered good resistance to selling pressure, yielding only fractionally on the day but California petroleum which had recorded an extreme rise of IT points during the week dropped 1&. to 944 while Pan American oil and American Can, each slipped back more than point. Good buying sup port was forthcoming in the copper issues which showed only nominal changes on the day.
 There were a few strong spots in the speciality list. notably American metals, United Railways investment common and preferred, Adams Ex- nSess. owens Bottle and Postum Cereal. all up lA to nearly points. United Drug was conspicuously weak.
 Foreign exchanges were firmer with business more active. Demand sterling sold around S4.7oA and French francs were again quoted above 6.10 cents.
 Financial: Days total sales 776,00o shares. Twenty industrials averaged 10451: net loss IA. High 1923. 2 1O465; low 96.96. Twenty railroads averaged 9o6S; net gain .97. High 1923, 9O.63; low S4.53.
 LIVE STOCK
 .s CHICAGO. March S.-Hog receipts. 12.- ;. 900; mostly 1oc higher; bulk desirable l6o : to 21O pound averages, ss. S5 Gs; 40; top ssi5@s 25; few packing sows, s7@7 30; hoid-overs, 2,5Oo; heavyweight hogs, ss.o5 dps 25 medium. ss lb@s 70; light. ss;26 sh5 FhI 5d rough ssesas sss5 | 20; killing pigs, $s%@s. ca, u,,n 4l week ago: Beef steers and yearlings weak a to 25c lower; medium grade yearlngs s- showing most decline killing quality beef is loads at and above slo; extreme top ma z tured steers. SIC 50; best yearlings in load 7. 7. grades beef cows and medium grade beef e hefers mostly 4oc to e5c lower spots off cutters and bologna bulls 1bc to 25c lower; - veal calves unevenly si.bo to v lower; = prices Esa follow: Beef steers, $ .s5; stock .a CTS and feeders, s6 Pod 75: fat she stock <, z s45o@7 canners and md, ,n cutters no 'S.l9@ :. Sheep receipts 1000; market for tho ~ week Fat wooded lambs mostly steady; = some weakness at close. weeks top. Slo.5V; bulk offerings weighty; she steady to z. strong best handy weight wooded year. : lings. SIS: 25; choice light ewes ssiTo; .. wooded lambs. 5oq1525; clipped 9ps lsl6 lamss wetsers ss GS SCas: ewes. ss so@sSS; feeding and shearing lambs, sl4 6oV lble.
 CINCINNATI, O., March s.-Hog re ceipts. 1. 400: active and steady. pigs dull; heaves ss 25 gS; To packers vs ana @ bGten 7h pigs and lights, $6. oOaS.0o' stass, sa1
 Cattle receipts. 300; steady; calves stead.
 sSheep and lambs steady.
 FEAST ST. LOUIS. Ills, March Sat tie receipts, 300. Compared with week iower; sS hhne lieht vealers s9as 5S lower; other classes. 25e lower; weeks top steers ss 70 llngs se. 5e@s; cows sS@e eanners' s2'SS @2. 9oi bologna bulls s4 DO e D. ooo
 Hog rsssPs 5o0 sqtYe foew lGf to to 9sS sS inns,nd averages, ss 5o@s 55; 1sO to 23o pounds. ss S5 as So' no heavies on .oI1 sale CT. sows strong, bulk, s6 s6@6 so' few
 Sheep receipts none. Compared with week ago Fat wool lambs 25c higher, clipped steady to 25c lower; yeariings Tat ewes and aged wethers steadSS; snIEn hnIi,s follow: Wool lambs. s14 75g II .s5; handy weight clipped, sl2 20 CT. So' hesT,es, sams fresh shorn. s7 s5 fat light ewes ss@ s.s5.
 LOUISVILLE. Ky. March s.-catle re ceipts 100; closing steady; heavy steers. ssIsT5 beef steers, $5MS 70; heiters sH5oas cows. s2@s.25; feeders s5,6o@ Q
 Hog receipts, 200: steady to Ac lower; 12o to 250 pounds. & 55, 25o pounds up, ss.5o; go to i2o pounds se se dow Sg ponhus
 Sheep receipts. 50; steady. lambs VIZ
 NEw YORK. March s.-Cattle receipts veais. ss@1i.5o; culls, SC 7.boi httle calves, s6m7: barn yard calves. s4@5.
 sheep and lamb receipts, $500; slow; sheep. s5@7. 30; culls S2' 6o@ f'0o' lamps light hogs, s9@9.25; heavy. ss. 5o@S.75; <; pigs, ss15@s.75; roughs. s7@72S.
 FOREIGN EXCHANGES
 NEW YORK. March s-Foreign ex- changes irregular. Quotations in cents; 10 s-ls. 6O-day bills on banks 4.esis. France demand 6.1lA4. cables 6 IF. Italy 4 sl and 4s1 F. Belgium, D 34 and 5.Sa i2 Germany. .oo44 and .oo4a1s- Holland se se;S2 ss Denmark, l9 22 Switzerland. 1s.7s. Spain. l5.eo. Greece, 1.o7 Poland, oo22 Czecho- -Slovakia, 2 96. Argentine, 3.2o Brazil, II s2. Montreal ss 5l6.
 CHICAGO STOCKS
 CHICAGO. March S-Armour or pels- Middlewest Utilities. 40; National Leather, "A; Swift, Co, 1os% switt lnterna, nt1ad 1rnn Works i2: Wahl, 64: Yellow Manu- featuring B, 27S; Yellow Taxi 90.
 DULUTH. Minn, March s-closing: Flax seed on track and arrive. S2. sl la March,