The Birmingham age-herald., 1924-09-16

Stock quotations on the New York
 exchange more than held their own
 ast week. They averaged ten points
 hbove the years minimum, reached in
 April and less than five points below
 Ehe peak of August 20A Bonds also did
 we'll during the week and are only
 hbout point under the July high wa
 ter mark. The quieting down of ac-
 fivity on the stock market towards the
 snd of the week is interpreted as a
 healthy rather than an ominous sign.
 The labor department at Washington
 reports larger call for wc-kers in the
 middle west and in mos. A,ther parts
 pf the country, including New England, Ewhere the two most depressed indus
 tries, shoes and textile, are showing
 Bymptoms of at least modest recovery.
 The .vitally important building indus
 Try still exhibits extraordinary vitality: tSomewhat lower prices for brick and
 pertain other materials are proving
 Ftimulating. Automobilas manufacture #krs, having cleaned out stocks, are Bidding to their working forces.
 Stakeholder, for example, plans to add B,500 men during September and Oc-
 ober. General Motors sold to uiti-
 nate consumers during August almost hs many cars as were sold a. year ago <and fully 10000 more in 1922, while
 otal deliveries by dealers for the last Might months are less than per cent
 below the record figures of a year ago. Nm this swiftly moving industry, the ftrong companies are becoming strong
 er, the weak weaker, ss several re-
 reiverships reflect. O.
 -$
 The mercantile agencies record a lit <Ale more activity among retail mer- &'chants, Marshall Field S& Co.,, whose 5F Feports are always conservative, made
 his statement at the end of the week:
 Current distribution of dry goods I*was considerably greater than last ]Iweek and exceeded also the colume of
 period year ago. Road bales reached higher level this week han was recorded for either last week Nor the same week in 1923. Therefwas a &great many more customers in market khan during the corresponding period Eh year ago."
 5I It Is now clear that the general move- 'ment of pric -eshas turned upwards. For z,nine consecutive weeks there have been knore upward than downward revi- 1Asions in wholesale commodity prices. gadvances out of a totaal of 69 price. s2Chankes. Az tsff3tst2 ! -@R - e@ si ?
 ssI.ook for d very heavy outflow of
 Ameriean capital to other countries.
 "City- of Berlin plans to seek loan <lhere, reads one headline. Another item reports the floating of saa loan here for French railroad. |lMany others will follow the placing oft Ethe $100, 0,Oo0,O 900 German government Moan here. Not all of our bank and leaders who, went to Flu NEope this summer-some of them are | ktill there-went solely for pleasure. T unfA fN \ Hind attractive new issues may de de- Idnced from the fact that borrowing J by out banks from the federal reserve Ibanys has declined to the lowest lev < Iets since 1917, while, aSo the National i ICity bank of New Yorw points out, member bank balances with the reserve have been increased through gold im- ports and receipts of other funds to I the highest levels on record. That lpart of the money raised here for for Il Ieign borrowers will be- employed to purchase American materials and mer- Echandise is certain, and the effect of hhis, coming on top of thereviving con- fidence at home may become quite pro- nounced, especially aas most commodi- ties here are selling at prices calcu- hated to encourage forward ordering.
 Politically, things are moving satis- factorily in Europe and here. The Ger linanS ndVe pLOhPIy HeI NneAt hae' wv lIpayments under the plan and the pre- Ivailing opinion in Europe is that all lIparties to the agreement are sincerely Ianxious to put it into successful opera Ition.
 In the highest financial and business IIcircles at home little. or no alarm Is Ifelt over the prospects for the Novem- Iber election. At the moment more att Itentio is paid to La.4Fo1lette than to Ithe democratic candidae.
 wan street always looks for at least lone "election scare" Therefore, hesi- Dtancy may be shown during the next flew weeks. The bulls are confident, however, that things will move their
 ways before, the actual voting takes
 p'"e' fCouyrtsht, 1s24)