The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1923-01-12
NOTHING HAPPENS
TO MAR GOOD DAY
FOR BIG TRADERS
Rv AssncIated Press

NEW YORK. Jan. 11.-stock prices
continued their rise to higher ground
in today's market, which was featured
by another series Of bullish demon
STATIONS in special shares. Spec
ulators for the advance were encour-
aged bv the further strength in for
eign exchange optimistic reports or
= domestic business conditions and the
plentiful supply of call and time
money at comparatively low rates.
Actual occupation of Essen by the
French troops caused further selling
of French bonds, but good buying
support limited the losses to point
or less. Traders still were inclined TO
look for foreign exchanges as the
true barometer of European banking
opinion on the reparations situation.
California Petroleum reached new
record top at so ss. but yielding a. the
close to 1878, where it represented
net gain of Ss points. Cosden also
reached a new top on the movement
at 55%, up nearly a point buying
being influenced by publication OF
statistics showing earnings of APP
proximately $40 share last year.
Postum Cereal was run up to l21a on
rumors of stock dividend distribu
lion. Out BIQlll-Ed btCNetiI -
back to 1929 at the close, or only Is
abeve yesterdays final figure.
Wide Fluctuations
Nash Motors furnished the widest
Fluctuations. selling between 106 and
lily, the high and closing price rep
resenting net gain of 51a points.
Fisher Body, which recently has been
selling between 20t and 205, was run
up to 212A, but forfeited nearly
points later, closing at Il, or up
Ga on the day.
other strong specialties. most of
them objects of pool operations. were
Loose Wiles Biscuit Hartman Corpo-
ration. Woolworth, Kelsey Wheel
and Truck, all up q to 6 points.
Baldwin and Stude baker were two
of the most active shares on the big
board. The former closing at 1876 for
net gain of 9 points and the latter
at 1l5A, or q above Wednesdays
final figure. United states Steel
common clc sed = higher and Crucible
], with the other Independent steels
showing only nominal changes.
Reports that the st. Paul railroad
had sustained another deficit in 1922.
although it was smaller than 1921,
and speculative uncertainty over the
Delaware and Hudson railroad divi-
dend arising from the quoted state
ment & President Loree that he did
not know what action the directors
would take had restraining and de-
pressing effect on railroad shares
Delaware and Hudson dropped to 1O3
Tor net loss of more than points
before buying support set in and car
ried the price to 1863. st. Paul is
sues showed little change at the close
sssa Call Money
Call money held at A per cent. Time
money continued to be quoted IA
per cent bid and 4s4 per cent asked,
with 45-day maturities arranged at
the lower figure and the longer loans
at the higher rate. Out-of-town banks
continued to be the principal takers
of commercial paper, the bulk of
which was moved at 4 4 per gent.
Demand sterling got up to s4.6l7 "a
or nearly &c above yesterdays close
but eased off to 81 81 % in later deal
fngs. French francs held steady
at 6 soc, while the Belgian and Italian
rates showed little change. Marks
sold at .0095c. South American ex-
change were slightly better. The
Canadian dollar was at a discount of
slightly less than u
Days total sales, 10000 shares.
industria1s averaged 9S.l2;
net gain, 4. IS. High for 1922, 1903. 43,
low 1859.
Twenty railroads averaged "a. SO;
net loss, .26. High 1922, So. SO, low
.4S.