The Birmingham age-herald., 1924-10-29
STOCKS DISPLAY "A BETTER TONE;
 BUYERS WARY
Interest In Rails Revives ! On Publication Of 5. Earnings Figures

NEW YORK, Oct. 2s.-Stock prices displayed an improved tone in today's market despite the recurrent weakness in some of the sugar and motor shares. Buying however, was of a selective and cautions character, the days sales only slightly exceeding 100000 shares.
 { sUnited States Steel common closed s higher at 10sA. Total earnings of ESQ., 71s.41S for the third quarter, made pub lie after the market closed, were smaller than expected and failed. by a small margin, to cover the full dividend re- Quirements for that period, although the surplus for the first nine months, after payment of all dividends. taxes and charges, is in excess Of $25,OoO,OUO. A regular dividend of SIPS and an ex- ira of 50 cents on the common were declared for the fourth consecutive time @Revival of speculative interest in the railroad shares followed the publication of another series of unusually faVoraDle September earnings statements and the announcement that freight car loadings for the week ended October IS, had es- tablished a new high record for all time. Rock Island, which had the best September in its history, advanced about a point to 34B but was unable to main tain all of it's gain. Lehigh VaiIey' Atchison, Union Pacific, Canadian Pa 'cific and Hudson and Manhattan pre- ferred advanced 1 to 11s points. Mer- chandising issues continued to give good demonstration of group strength. Sears Roebuck common crossed 1l6 to the highest price in four years on the announcement that the directors would retire the preferred stock, which also advanced A points to a new top at
 
 points to 1O9% An explanation for the recent strength in Manhattan Shirts was found in the report that very profitable business was being built up in it's sidelines, particularly piece goods and drapery material.
 Higher prices for nonferrous metals were reflected in the strength of Ameri- can Smelling and Refining. which sold AIooye 30 for the first time since 19l9. New 1924 highs were established by the Commercial Solvent issues, simmons company, Maxwell Motors "A" and All American Cables.
 Despite the announcement that Moon Motors had earned it's full dividend requirements the first nine months, the stock broke to a new low for the year at 17h but rallied later to 1914, where II was off % on the day. Further liqui- dation of Yellow Cab sold as low as S9L, Both made partial recovery.
 WWeakness W of American Sugar Refin- ing which established a new minimum price at 36A was attributed to the omis- sion of the common dividend on Federal Sugar Refining. Heaviness also was noted in Cuban Dominican Sugar, De troit Edison, Fleischmann, Union Tank Car, and West Pennsylvania, Power.
 Call money renewed at 21s per cent and then advanced to 3. Time money and commercial paper were unchanged. The American Acceptance Council ad- yanced the rate on call loans secured by acceptance from. to 2A per cent. Foreign exchanges held relatively steady in quiet trading. Demand sterlng 4nied around $4,50 and French francs around 5.22 cents. Danish kroner, which Ras been heavy lately, rebounded 15 points to TYPO cents.
 Stock market averages: