The Birmingham age-herald., 1923-11-08
STERLING DOWNWAR
POUND GOES

nGdNlneSS.
 A Considerable short covering by so- called amateur bears, a resumption of pool operations and a fair demand for selected issues by investment in terests imparted firm tone to the early dealings. Indications of profit taking at the higher levels together with slowing Up in activity and sharp drop in sterling to another new low level for the year. encouraged by a resumption of bear selling around noon, which resulted in a materia, reduction or cancellation of some of 1.-the early gains in active issues.
 Declaration of the regular quarter ly dividend of the Texas company previously reported in danger, started heavy buying of the oil shares in the late afternoon which resulted in a sympathetic advance in other parts Of the list. Texas company, which had sold as low as 35 14 early in the session, bounded upward to 37 6-S, closing slightly below that fig ufe for net gain of 1 Is on the day. CCsden advanced 2 5-S and Atlantic Refining 1-4. Houston and Pacific Oils Royal Dutch and Shell Trans port also made good gains
 United States Steel Baldwin. Stude- baker and American Can again moved within comparatively mar row range, closing either unchanged or fractionally higher.
 Most of the days trade news was OI q constructive character. Sales or { @copper metal were reported at 12 ,43=4c a pound, or 1-s of cent above -sthe-p previous price. Oil shares were ~helped by reports that gasoline stocks on hand had been reduced from a A days to 40 days supply. Sales of chain stores and mailorder houses continued to increase. Kresge report dng sales of $61,263,526 in the first ten months of this yer as against $4S,363,205 in the corresponding .fr.1 g.f T. .1,I- l five points to 255, new top,
 Congoleum and National Biscuit also touched record 1923 tops
 Weekly steel trade reviews. how ever. showed little change in the general situation. ron age reported further slowing down of steel pro- siuction, but the closing of the gap between shipments and bookings has had little effect on prices.
 Railroad shares were reactionary on profit taking, but the losses In active issues were limited to frac- Iions.
 eirn7, of abort t--7 ~=''-
 mand sterling in reflection of large accumulation of bills was the feature Of the reactionary foreign exchange market. French francs dropped near 7 1y ten points to 57o53 cents and Bel gian frances were off 7l3 points at |. Practically no business was transacted in German marks for W tiANii tilNA NSAN ChiS 4iOillAilSi quotations.
 Cali money ruled unchanged at , percent. The time money market ex- hiofted a somewhat firmer tone, but business was extremely dull few loans for 90 days and over being ranged at 1-4 per cent. There is a flair demand for commercial paper, prime names commanding and 1-4 per cent.
 Total stock sales 731 800 shares.
 Fxra nj " indt1Ctria1g nv ad net gain .12.
 High 1923, 1OE3S; low S5.7s.
 Twenty railroads averaged S2.45; net loss 30
 LIVESTOCK
 ..n,s GiHcIzNNAT5 oSd 5.,I: o.; N0y. 7mHOrs: Re
 Cattle: Receipts. 800; good butchers stock steady; others weak. Calves steady.
 Sheep; Receipts, 300; lambs steady,
 KANSAS CITY. Nov. 7-cattle: Re corn fed yearngs and handyMeghf steers active, fully steady; other classes killing steers slow, beef cows, s4.25@4.75; can sS.35 e s.75; calves steady to strong; prae- tical top vealers $50; desirable stoekers
 Hogs: Receipts, 2S,OoO; best butchers, steady to 5c lower; few sales and most sales, s6.6O@7; bulk good and choice, goo goo to pound axersgss ,e ages sS:soq7; pack
 
 sheep, Receipts. 1000; killing classes grades largely s12.2 @12.75; range lambs around B per cent in killing condition, SIZES, odd lots, fat ewes around s6.
 LOUISVILLE. Ky, Nov. 7.-Cattle: Re ceipts, 400; slow, dull; heavy steers. $40 ss%s se sSeefe fsedsfs 6eteT stogS @ = Hogs: Receipts, 1,soO; steady to 15c 1nt m fo bounds s7; i2o to 1S5 pounds, ss.sO pigs, l9o pounds down. s5@5.5O throwouts, ] sheep Receipts. 100; steady lambs CHICAGO, Nov 7.-catue: Receipts, 15.ooo; fed yearlings handy weights, de, weighty steers fully steady; other grades beef steers. especially short feds, dull, li77 pounds; few heavies above $1o.75; same 1.559-pound average at that price; 9 around se5o; numerous l' loads s weigRty gG5R; short fed bu1locks $7.50 Q $50; top long . slO@11.25; most western grass steers SC a 6.I5, about steady, improved quality con soe owee grsd ,Se stot tx a at recent decline; bulk native and western \ cows ss.5O945o: western heifers mostly bologna bulls $4@4.25; grassy westerns largely ss.25 @s,s5; stockers and feeders Hogs: Receipts si.OOo; mostly strong to l Oc higher; light mixed offerings closed sStehsis ssqy 0q assT1 top s50 s grades SO to 200 pounds average mostly s6s0@T.15; bulk packing sows s6.50 G , pigs largely s5.75@s; estimated hoidover 1oooo.
 Sheep: Receipts. 14,ooo fat lambs mostly toc to 25c lower; cuil native sheep i, choice fat lambs S12.25@12.75; top. s12.90; culls largely $9,5O @lO heavy fat ewes, choice fpediug lalnhs most ] ly t12.5o @12.75; top. SIS,
 EAST ST, LOUIS; Ill., Nov. 7;-Hogs: ; about 5c lower. mostly s7.35@7.40; one load $7.45; good and choice 210 to 25o < pound averages, S7.25@7.%5 considered around 6c to ioc lower; most decline on [. 760 to 1s0 pound kinds; bulk. S6.s5 6s s.10. or 1oc to 16c lower; lights and light lights opened 25c lower. closed 25c to soc lower 6.5o; 110 to 1So pounds, Sb.50 @6 .25; {. pewees, s5@6.6O; packer sows s6@6.15. eteers and canners 1Oc to Sc lower spots down 25c; western steers, fat light year lings and light vealers steady; beef cows, s bologna bulls and stocker steers 5c to a tive beef steers. $6.350S75 westerns. sssO; best light yearlings, ss.25@9.5o; ' bulls. s2 5o@425; stocker steers S4@5,5O. 2 Sheep: Receipts. 1,5O0 best lambs z steady; top. s12.25; others weak to 25c : yeariings and sheep steady; two loads medium to good yeariings, S9.50; light ; mutton ewes. S6.
 CHICAGO STOCKS ' CHICAGO. Nov. 7,-Armour preferred, lo61A; Libby McNell, 5k; swift & Co, swft wrFiey isG Yeow Mana In9n featuring Cab B, o4A; Yellow Taxi, lls,
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