The Birmingham age-herald., 1923-10-18
MOST OF GROUND
 LOST TUESDAY IS REGAINED IN RISE

AEUA1IVED 1IV hkOE
 NEW YORK, oct. 17.-stcck prices crashed below the previous low levels of the year in the early part of today's trading and then bounded upward, cancelling nearly all of the early losses and recovering most of the ground lost yesterday. Except for the closing out of some weakened d marginal accounts and occasional purchases by so-caled bargain hunters" the days trading was large ly in the hands of professional in terests.
 Northwestern rails, which were de- pressed, yesterday as result of President Coolidge's suggestion of lower freight rates on wheat for ex- port already a gain in supply this tablished by Northern Pacific, Chi cago Northwestern and Nickel Plate" preferred. With few excep- tion, however, closing prices showed net gains on the day.
 Further cuts in gasoline prices com bined with the arrival of rumors prac- tically denied of new financing by the Pan-American had an unsettling ef- feet on the oils.
 More than a score of stocks dropped to new low levels for the year dur ing the morning reaction while a dozen others duplicated their prevf- ous bottom prices. Among those resistance points were United States Rubber, Kelly Springfield, Coca Cola, Pressed Steel, Car common and pre- ferred, Foundation company, Central Leather preferred, Tndicott Johnson and Hupp Motors.
 Floor traders finding a scarcity of the usual leaders at the low prices started rally just before noon which was given impetus by lower time money rates and reports of increas buying of steel, copper and railroad The Character of the sup port eventually brought about exten~ slVe covering operations by nervous shorts who apparently had been er- pecting a wide open break soon after the market opened.
 Gains of one to two points on the day were recorded by United States and Gulf States Steel, Baldwin, American Can, Studebaker, Mack Truck and many others Woolworth jumped nearly six points to 2601a, a new 1923 top, on reports of record breaking sales, while Philip Morris established a new nigh at 21 IA in anticipation of an early consummation of it's merger with some of the lead. ing domestic tobacco companies.
 Early weakness or Famous Players was associated with reports that. the company had written, off a loss of $1,000000 in it's German investments. Unfavorable trad. eonditiins were held responsible for the renewed heaviness of leather and rubber is- sues.
 Money rates were easier. Call money opened at4 3-4, eased to 4 1h IA and finally ti4. Brokers start q bidding inly per cent for the shorter maturities in the time money mar ket with a number if loans arranged at 1-4 for 30 days and so days.
 The feature of the exchange mar ket was the establishment of an- other low record for German marks at 1-S cents a hundred million. Heavy offerings if grain and cotton bills caused a slight recession in the sterling rate to below $453. French francs eased 2 points~ti 6.041a cents.
 Total stock of sales 562,300 shares.
 Twenty industrials averaged S7.56, net gain 60.
 High 1923. 1o5.3s; low s6.92.
 Twenty railroads averaged s1.16.
 High 1923. sO.15; low 7s5s.
 LIVE STOCK
 EAST ST. LOUIS IlL, ,<Oct 17.-Hogs: to s5c tower. closing fairly .aetivs;s me- dium weight and heavy butchers 15c to shtl sG yso to sst 5t 5s sSs b BE s 9a 5 gs s pound averages. s760@7.75; top s7.S5: fight hogs $40 @7.5o; light lights, s6.75 @725; pigs S6.5O @6.75; packer sows
 Cattle: Receipts. 5000; best steers steady all others 25c lower light year lings and heifers strong; beef cows. bo logna bulls and calves steady; canners opened steady closing weak; stocker and long yearlings, SIP; bulk beef steers, $s5o IT. so ~,yearlings, Ss.5o O $50; cows, 4.5o; calves, s12.5o; stocker steers, s4.25@
 Sheep: Receipts 2fooo; fat lambs 25c and bulk native lambs. SIP; few south : west kinds. s11.5O@11. .75; culls mostly $S; light mutton ewes, se.
 NEW YORK. Oct. 17.-cattie: Receipts. bulls, ssQ 4:75; cows. SIPS @4.5os Calves, receipts l;qoG: steady; .yeals, $l45Q l5;
 Sheep and lambs: Receipts, 2.9o0: dull and sessy; sheep. s5@s-25: ,cuiia. s2@s; medium weights, ss.so@s 50; pigs ss 70 ss1oo heavy hogs. ss@S.25; rougrs, ss5o@ .sa,Z,;I c!NcINSATI. s0o 9 9ohio. % oct lz.-Hoss: ss; packers and butchers. ss; medium. s7.25@!s5: stags, s5@5 $50; heavy fat ssows s5.75@s.75; pigs and lights. s5 O
 Cattle: Receipts, 1,o5O; dull and weak, CdlVeS weak. DUG lower. S4 O. 13.
 Sheep; Receipts, 500; slow. steady, LOUISVILLE, Ky. Oct 17.-cattle; sRtS ssesR5 beef seers e g@s25 aefgy hefers @s; cows $2@6; feeders. s5.5o @725;
 Hogs: Receipts, 1900: steady to 25o lower: 200 pounds up, s7s5s 165 pounds to 200 pounds. s7Ro; 12o to l65~pounds. Sheep: Receipts, 100; steady. Lambs. CHICAGO. Oct. 17.--Cattle: Receipts lings. 1b o s5c lower early; closing 70 soc lower; numerous loads unsod at late hour; top natured steers. SIP; best year. lings, s12.5o; numerous loads fed steers and yearlings. ss75@11; run includes about 2,ooO western grasse-s bulk still in first hands; few held upward to sS.25s s5c lower; hulk western cows $3.75@A.5o; western heifers. s5@55O; bulk canners, ssaSS SofGras cutters sss saw ss bulls around ss.5O; bulk stockers and Hogs; Receipts. s2,ooo; uneven. mostly lower; bulk better grades, ssO to s25- able 1so to 22O pounds average, largely, s7bo@Ls5; bulk packing sows s6.75@7; sSed sao57 and ehoics wsighty slaughter pigs, \ Sheep: Receipts 26000 fat lambs mostly 15@25c lower; in-between grades off more; cull lambs weak to 25c lower : yearlings mostly 25c lower aged sheep steady to 25c lower; feeding lambs weak to 15c lower; bulk best fat westerns S12.50@13; bulk natives. $11.7501225: few to city butchers, s1..5o; cuiis mostly ss@9.5o: best fat ewes. ss.50; feeding lambs mostly $12.50@13
 KANSAS. CITY. Mo, Oct. 17-cattle: Receipts, 14 900; calves. 5000; better grades corn fed steers and yearlings fairly steady; other killing steers slow around steady; best weighty beeves 11.65; beef roWs dra gpv afaadv to ,a,,,e... s'.ss